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116 E 16th St
For Sale $9,999,000
$9,999,000
- 6 Units
- Unknown Sq Ft
- 31,799 Sq Ft
- Unknown Cap Rate
Description
Three highly desirable industrial buildings in a rare "Opportunity Zone" in the heart of Newport Beach and Costa Mesa are now available! The properties consist of 110, 116 and 118 E 16th Street. 110 E 16th Street currently serves as the headquarters for a top tier vintage Ferrari dealer (which can be made available for an owner-user) and the 116 and 118 E 16th Street buildings are occupied by automotive repair shop tenants. The buildings feature a quality blend of functional office space, spacious warehouses and 14+ foot ceiling heights. The 116 building also contains two professional grade paint booths.
As part of Costa Mesa’s 19 West Urban Plan, this site is suitable for mixed use development. The city’s specific plan allows for up to 4-stories with a density of 1.0-1.25 FAR, which could allow for development of 30,000 - 40,000 buildable square feet. According to one city site analysis, it appears that 18-36 units could potentially be developed.
This prime location sits near Newport Blvd, Superior Ave, 17th Street, the 55 Freeway and Pacific Coast Hwy with easy access to everything. In addition, there is potential for significant tax advantages by investing in a designated "Opportunity Zone" (see https://economicdevelopment.business.ca.gov/place-based-strategies/opportunity-zones/ for further information). All of this combined with the fact that this area is growing in popularity with trendy restaurants, retail stores, residential neighborhoods and its close proximity to the best beaches, entertainment and hospitals in Orange County make this an amazing property for investment or owner-user.
This property is perfect for auto collectors, restaurant concepts, redevelopment, investors or owner-users.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $9,999,000 |
| Property Type | Industrial |
| Usable Sqft | Unknown |
| Number of Stories | 1 stories |
| Parking Spots | 0 spots |
| Year Built | 1946 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 42543104 |
| MLS # | OC24093070 |
| Property ID | 320465360 |
| Lot Sqft | 31,799 |
| Zoning | Light Industrial |
| Total Units | 6 |
| Days on Market | 593 |
| Original List Price | $9,999,000 |
| Date Updated | September 29, 2025 |
| Date Created | May 08, 2024 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Chas Patterson an agent of . Lic #01935216
© 2025 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of September 29, 2025 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Robert Crawford
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