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111 Palm St, Newport Beach, CA 92661
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111 Palm St Newport Beach, CA 92661

$12,500
  • -- Beds
  • -- Baths
  • 5,388 Sq.Ft.
For Lease
$12,500 Get Pre-Qualified
Map preview of 111 Palm St, Newport Beach, CA 92661

Property Overview: 111 Palm St Newport Beach, CA has -- bedrooms, -- bathrooms, 5,388 living square feet and 5,227 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: BEST LOCATION IN SOUTHERN CALIFORNIA BEACH AREA Introducing a rare opportunity to lease one of Southern California's most coveted restaurant spaces, nestled in the heart of Newport Beach's picturesque peninsula. Boasting an enviable location right by the ferry landing leading to the iconic Balboa Island, this 5,388 square foot gem sits proudly on a prime corner, offering unparalleled visibility at a bustling intersection. Plenty of parking with a city parking lot next door ensures convenience for patrons of this establishment. Elegantly designed with new windows illuminating the main dining area and efficient LED lighting throughout, this establishment exudes potential sophistication and charm. Equipped with Direct TV hookups, 9 floor sinks in the kitchen, and 2 additional floor drains in the storage/office area, every detail has been meticulously crafted to elevate the dining experience. In a commitment to providing optimal comfort, the property owner will be installing a brand-new HVAC system for the fortunate new operator. Safety is paramount with a full fire suppression system and stainless steel hood in the kitchen, ensuring peace of mind in every culinary endeavor. A boon for efficiency, a convenient large "walk-in" with beer lines to the bar area streamlines operations, while the bar area itself features 4 floor drains for added convenience. Storage is ample with two dry storage areas and an additional office space, complemented by a roll-up door for seamless deliveries. Outdoor dining takes center stage with a spacious patio area, offered exclusively to the restaurant operator and complete with gas line and electrical connections. Men's and women's restrooms are thoughtfully installed for guest convenience. Powering the establishment are three panels providing generous amperage, including 200 amps, 225 amps, and 200 amps respectively, ensuring ample electrical capacity to meet any operational demand. Completing this extraordinary opportunity is the inclusion of an additional office (possible residential apartment w/Site Development Review) located upstairs, offering versatility and potential for further revenue streams. With its unbeatable proximity- a mere 1500 feet to the Balboa Island Ferry launch and just 500 feet to the beach- this location epitomizes the epitome of a successful restaurant venture. Don't miss out on this rare chance to make your mark in one of Southern California's most coveted culinary destinations.

Listed by Wendy Chiri | BRE #01744064 | Coldwell Banker West
Co-listed by Jeff Kane | BRE #01915649 | Coldwell Banker West
Last checked: 14 minutes ago | Last updated: April 24th, 2024 | Source CRMLS | DOM: 21

Home details

Lot Sq. Ft
5,227
HOA Dues
$0/mo
Year built
--
Garage
--
Property Type:
Mixed Use
Status
Active
MLS#
ND24071606
City
Newport Beach
County
Orange
Time on Site
21 days

Open Houses for 111 Palm St

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Property Details for 111 Palm St

Lot Details / Garage and Parking
Lot Information
  • Lot Features: 0-1 Unit/Acre
Property Information
  • Parcel Number: 04812207
  • Entry Level: 1
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Balboa Boulevard to Palm Street
View more facts & features

Local Newport Beach Agent

Sale History for 111 Palm St

Last leased for $12,500 on June 18th, 2018

  • April, 2024

  • Apr 10, 2024

    Date

    Active

    CRMLS: ND24071606

    --

    Price

  • January, 2024

  • Jan 1, 2024

    Date

    Expired

    CRMLS: OC23016296

    $12,500

    Price

  • Jan 30, 2023

    Date

    Active

    CRMLS: OC23016296

    $12,500

    Price

  • Listing provided courtesy of CRMLS

    Rarely available, prime location for an anchor restaurant on Balboa Island. Opportunity knocks to operate a successful business within one block from the famous Balboa Pier & the beach. This premier property offers 4456sqft of restaurant/ retail space, an 600sqft open patio area and an 873sqft of office upstairs with its separate entrance. Conveniently located in Central Balboa with easy access to Balboa Island Ferry entrance, Balboa Fun Zone, numerous retail and commercial establishments, restaurants and shopping. Highly visible location with long-term lease options at competitive rent with NNN lease. Ample municipal parking on both sides of the street provides excellent foot traffic. Newport Beach is one of the most popular vacation spots in the world, attracting thousands of local and international visitors year-round.

  • July, 2021

  • Jul 1, 2021

    Date

    Expired

    CRMLS: OC20154361

    $12,500

    Price

  • Aug 11, 2020

    Date

    Active

    CRMLS: OC20154361

    $12,500

    Price

  • Listing provided courtesy of CRMLS

    Rarely available, prime location for an anchor restaurant on Balboa Island. Opportunity knocks to operate a successful business within one block from the famous Balboa Pier & the beach. This premier property offers 4456sqft of restaurant/ retail space, an 600sqft open patio area and an 873sqft of office upstairs with its separate entrance. Conveniently located in Central Balboa with easy access to Balboa Island Ferry entrance, Balboa Fun Zone, numerous retail and commercial establishments, restaurants and shopping. Highly visible location with long-term lease options at competitive rent with NNN lease. Ample municipal parking on both sides of the street provides excellent foot traffic. Newport Beach is one of the most popular vacation spots in the world, attracting thousands of local and international visitors year-round.

  • June, 2018

  • Jun 19, 2018

    Date

    Leased

    CRMLS: PW18022493

    $12,500

    Price

  • Feb 1, 2018

    Date

    Active

    CRMLS: PW18022493

    --

    Price

  • Listing provided courtesy of CRMLS

    Prime location for the restaurant of your dreams! This is a rare opportunity to operate a successful business within one block walking distance to the Pacific Ocean beach front and the famous Balboa Pier. This premier property offers 4456sqft of restaurant/ retail space, an 600sqft open patio area and an 873sqft of office upstairs with its separate entrance. Conveniently located in Central Balboa with easy access to Balboa Island Ferry entrance, Balboa Fun Zone, numerous retail and commercial establishments, restaurants and shopping. Ample municipal parking on both sides of the street provides excellent foot traffic. Newport Beach is one of the most popular vacation spots in the world, attracting thousands of local and international visitors year-round.

  • March, 2012

  • Mar 6, 2012

    Date

    Sold (Public Records)

    Public Records

    $1,930,000

    Price

  • September, 2010

  • Sep 10, 2010

    Date

    Sold (Public Records)

    Public Records

    $1,700,000

    Price

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Tax History for 111 Palm St

Assessed Value (2020): $2,160,484
Year Land Value Improved Value Assessed Value
2020 $1,728,387 $432,097 $2,160,484

Home Value Compared to the Market

This property vs the competition

111 Palm St is currently listed for lease in the city of Newport Beach. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Newport Beach has a median list price of $4,298,800. The median price per/sqft for Newport Beach is $1,506. With those numbers in mind, if you are looking to purchase a median priced home in Newport Beach, CA and put 20% down you will need to save up $859,760 for the down payment and will need roughly $85,976 for closing costs on top of the down payment.

About 111 Palm St

Detailed summary of property

111 Palm St is a mixed use for lease located in Newport Beach, CA 92661. This mixed use property offers -- bedrooms, -- bathrooms, roughly 5,388 living square feet, and sits on an approximately 5,227 square foot lot. 111 Palm St was first listed on ArdentRealEstateGroup.com on April 11, 2024. The homeowner is currently asking $12,500. Local homes that are currently for sale include 123 E Bay Ave, 114 E Oceanfront and 129 Topaz Ave. While the average home in Newport Beach, CA is selling in 74 days, 111 Palm St has a days on market of 21 days. There are currently 269 homes for sale in the Newport Beach real estate market and 201 of them are single family homes while 55 of them are condos and 13 are townhomes. For more information on this home for lease at 111 Palm St Newport Beach, CA 92661 contact Ardent Real Estate Group and we will put you in touch with one of our Newport Beach agents.

Public Facts for 111 Palm St

Public county record property details
Beds
--
Baths
--
Year built
1985
Sq. Ft.
5,388
Lot Size
5,081
Stories
2
Type
Commercial (General)
Pool
No
Spa
No
County
Orange
Lot#
7
APN
048-122-07

The source for these homes facts are from public records.

92661 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$6,750,000
Median List Price/Sq.Ft.
$2,241
Median Sold Price
$4,625,000
Median Sold Price/Sq.Ft.
$1,741
Total Inventory
45
Median Sale to List Price %
92.59%
Avg Days on Market
69
Loan Type
Conventional (12.5%), FHA (0%), VA (0%), Cash (37.5%), Other (37.5%)

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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, 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.

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