Pending
310 Marine Avenue
Newport Beach CA, 92662
$3,149,000
$2,019.88 per sqft
Pending
1,559 sqft
Commercial
Built in 1946
Listed by Annie Clougherty with Compass 949-375-3037
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.
NP24024850
MLSⓇ ID
February 7, 2024
Listed
October 17, 2024
Updated
Map
310 Marine Avenue
Newport Beach CA, 92662
Interior Features
Total Stories
1
Laundry Description
Inside, In Kitchen
Fireplace
No
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.05 Acres
Lot Features
Street Level
Roof
Composition, Flat
Other Property Details
Area Name
N9 - Lower Newport Bay - Balboa Island
Days on Market
173
Garage
No
Parking Total
1
View
No
County
Orange
Water Source
Public
Pool
No
Zoning
Mixed Use
Listing History
Date | Event | Price |
---|---|---|
10/4/2024 | Pending | — |
7/31/2024 | Under contract | — |
6/17/2024 | Price change | $3,149,000 -10% |
Listing Contact: 949-438-4340
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/17/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 10/17/2024 at 12:40 PM UTC