310 Marine AVE Pending Save Request In-Person Tour Request Virtual Tour
Newport Beach,CA 92662
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Pending
Purchase Type For Sale
MLS Listing ID NP24024850
HOA Y/N No
Year Built 1946
Lot Size 2,178 Sqft
Lot Dimensions Assessor
Property Description
A rare and unparalleled opportunity arises with the offering of Sugar n' Spice, an enduring symbol of Balboa Island's rich history and community spirit. Established in 1945, this beloved property has stood the test of time, serving as a beacon of nostalgia and culinary delight for nearly eight decades. From its humble beginnings, Sugar n' Spice has woven itself into the fabric of the island, becoming a cherished destination where locals and visitors alike gather to indulge in its signature treats, including Balboa Bars and chocolate-dipped frozen bananas.
Beyond its culinary offerings, Sugar n' Spice holds a special place in the hearts of the community, serving as a backdrop for countless memories and shared experiences. Generations of families have frequented this beloved landmark, forging connections and traditions that span lifetimes. With its timeless charm and storied history, Sugar n' Spice presents a unique opportunity for discerning buyers to own a piece of Balboa Island's heritage and continue the legacy of this treasured establishment. The property is mixed-use and offers a great residential unit in the rear of the building. Recent visual upgrades for this expansive three-bedroom and two-bathroom property include new paint, new lighting, new luxury vinyl plank flooring and a new roof. Things that are important also to a prospective Buyer that you might not see are the hardware & lining of the wastewater pipes were replaced and redone, as well as newly replaced drainage pipes in the front shop were also recently completed. The property is being sold in conjunction with the sale of the business through a business broker.
Both the front shop and back unit are both used by the current owner, so there is no lease history. However, based on the comparables on Marine, the current back residential could rent for $4850/month. The last commercial lease on BBI on Marine was at $15.29/square foot, comping this out at $6000/month for the front shop.
Location
State CA
County Orange
Area N9 - Lower Newport Bay - Balboa Island
Zoning Mixed Use
Interior
Heating Central
Cooling Wall/Window Unit(s)
Inclusions see inclusions list in supplements
Fireplace No
Laundry Inside,In Kitchen
Exterior
Utilities Available Sewer Connected
Roof Type Composition,Flat
Present Use See Remarks
Total Parking Spaces 1
Building
Lot Description Street Level
Story 1
Water Public
Others
Tax ID 05015114
Security Features Security System,Closed Circuit Camera(s),Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
Lease Land No