1460 Coast HwyLaguna Beach, CA 92651

This exceptional Laguna Beach property, located at 1460 S Coast Hwy, presents a rare investment opportunity. The three-story, 4,951 square foot building, originally housing the historic Brayton Laguna Pottery, boasts a prime location on Pacific Coast Highway between Bluebird Canyon and Thalia Street. Currently operating as a multi-tenant retail space with six tenants (75% occupancy as of May 10, 2024, projected to be 100% by 01/01/2025), the property features a mix of bar and storefront uses. The asking price is $8,000,000, reflecting a current cap rate of 3.18% and a pro-forma cap rate of 4.03%. The Net Operating Income (NOI) is currently $254,226, projected to increase to $322,332. Built in 1928 and renovated in 2024, the property sits on a 12,446 square foot lot and includes 20 parking spaces. The NNN leases commenced January 1, 2023, with a remaining term of four years and rent bumps included. The property is zoned C-1 and LBP. An additional parking lot at 1400 Glenneyre St. is included, offering potential for future development. This legacy property offers easy access via car, foot, or trolley, and is across from stunning beaches. This is a unique chance to acquire a piece of Laguna Beach history with significant upside potential.