111 Palm StNewport Beach, CA 92661

Property Details for 111 Palm St

Year built

1985

Lot size

0.13 AC

Property size (Sq ft)

5,388 SF

Property type

Commercial real estate

APN

048-122-07

APU

4812207

Description

This exceptional 5,388 square foot restaurant space presents a rare opportunity in Newport Beach's coveted peninsula. Located at the bustling intersection of Palm Street and Balboa Blvd., this property boasts unparalleled visibility, situated near the Balboa Pier, Fun Zone, beach, public parking, and the ferry to Balboa Island. The elegantly designed interior features new windows illuminating the main dining area and efficient LED lighting. The well-equipped kitchen includes nine floor sinks, while the storage/office area has two additional floor drains. A large walk-in cooler with beer lines to the bar area (featuring four floor drains) streamlines operations. Ample storage is provided by two dry storage areas and an additional office space, accessible via a convenient roll-up door. A spacious outdoor patio, exclusive to the restaurant, is equipped with gas and electrical connections. The property benefits from three electrical panels (200 amps, 225 amps, and 200 amps), ensuring sufficient power. An upstairs office (with potential for residential conversion) offers additional versatility and revenue potential. Its proximity to the Balboa Island Ferry (approximately 1500 feet) and the beach (approximately 500 feet) makes this an ideal location for a thriving restaurant. This is a truly unique opportunity to establish a successful culinary venture in one of Southern California's most desirable areas.

• Alternative Use

  Use

  Valuation

  Residential

  $2,750,690

  Hospitality

  $2,519,618

  Educational

  $2,096,292

  Medical

  $2,168,387

  Retail

  $3,260,899

Location Insight

City

Newport Beach

County

Orange

State

California

Latitude

33.6024

Longitude

-117.901

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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