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501 Park Avenue, Newport Beach, CA 92662

Commercial property · 2 recorded sales since 2024

501 Park Avenue, Newport Beach, CA 92662 Sold September 2024 CRMLS
$4,950,000Sold September 2024

Listing Agent: Kevin Bayless (DRE #01788899) · Listing Office: Bayless Real Estate · Contact: kbayless@leeirvine.com · Bought with: Alex Matar · Kidder Mathews · MLS #OC24091109 · Source: CRMLS

5,080
Building Sq Ft
3
Units
3.22%
Cap Rate
$191,840
NOI
5,100 sqft
Lot Size
2015
Year Built
Commercial property
Type

About this commercial property

THE PROPERTY: Welcome to your slice of paradise on Balboa Island in Newport Beach! This exquisite property offers an unparalleled opportunity to own a top-performing restaurant with two stunning apartments above, all completely rebuilt to perfection in 2015. THE RESTAURANT: Step into the heart of culinary excellence as you enter the spacious and inviting restaurant and bar area. Bathed in natural light pouring through large windows, this space exudes warmth and charm. With ample room for indoor and outdoor seating and a meticulously designed kitchen equipped with top-of-the-line appliances, it’s a dream canvas for creativity. THE LOCATION Situated in the heart of Balboa Island, this property enjoys a prime location in one of Newport Beach’s most coveted neighborhoods. Surrounded by quaint shops, charming cafes, and scenic waterfront vistas, residents and visitors alike are drawn to the vibrant energy and unparalleled beauty of this coastal community. With easy access to the Balboa Island Ferry, nearby beaches, and an array of recreational activities, the possibilities for adventure and relaxation are endless.

Listing description from the September 2024 sale, as reported to CRMLS.

Sale history

$4,950,000
Sold September 2024 · listed $5,950,000, on market May 2024 · MLS #OC24091109 · Source: CRMLS
Listing Agent: Kevin Bayless · Listing Office: Bayless Real Estate · Contact: kbayless@leeirvine.com · Bought with: Alex Matar · Kidder Mathews
$4,950,000
Sold September 2024 · listed $5,950,000, on market May 2024 · MLS #OC24090681 · Source: CRMLS
Listing Agent: Kevin Bayless · Listing Office: Bayless Real Estate · Contact: kbayless@leeirvine.com · Bought with: Alex Matar · Kidder Mathews
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