1419 Superior AveNewport Beach, CA 92663

Property Details for 1419 Superior Ave

Lot size

0.31 AC

Property type

Other commercial real estate

APN

424-021-32

APU

42402132

Description

This exceptional 8,935 square foot, two-story Class B medical office building in Newport Beach, California presents a unique owner-user opportunity. Located on a 0.74-acre lot with 50 parking spaces, the property boasts a prime location across from Hoag Newport Beach, a top-ranked hospital. Currently 62% occupied by six tenants, this multi-tenant building offers immediate occupancy potential for an owner-user, with 3,394 square feet available. The asking price is $5,750,000, translating to $643.54 per square foot. Built in 1957, this value-add investment benefits from strong market fundamentals, including a high concentration of residents aged 50 and older in Newport Beach, indicating sustained medical demand. The property's proximity to Hoag Hospital, along with nearby retail and lifestyle amenities, enhances its appeal. Newport Beach's affluent demographics, with an average household income of $230,141 and average home value of $1,861,000, further solidify this investment's potential. Limited new development in the area ensures the continued value of existing properties. This is a generational opportunity to acquire a coastal medical office building in a highly desirable location with significant upside potential.

Location Insight

City

Newport Beach

County

Orange

State

California

Latitude

33.6262

Longitude

-117.934

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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