Multi Tenant Retail Center

Highlights:

• High-Visibility Newport Blvd Frontage: Located along Newport Boulevard, one of Eastside Costa Mesa's primary north-south commercial corridors, the property offers excellent frontage, strong daily traffic exposure, and prominent pylon and building signage-ideal for owner-users seeking brand visibility and customer access.
• Prime Eastside Costa Mesa Location: The property is situated within an established and supply-constrained submarket, surrounded by dense residential neighborhoods and close to Newport Beach, supporting consistent demand for retail, service, and professional users.
• Owner/User Occupancy Opportunity: Currently approximately 46% leased, the property allows an owner/user to occupy a substantial portion of the building in the near term while maintaining in-place income. Short-term and month-to-month leases provide flexibility without the need for tenant buyouts.
• Exceptional Parking & Site Functionality: The property features 35 on-site parking spaces, equating to an outstanding 6.22 spaces per 1,000 SF-well above typical retail standards in the area. This parking advantage supports a wide range of owner-occupied uses that require customer and employee convenience.

Description:

Marcus & Millichap is pleased to present 2428 Newport Boulevard CA 92627, a ±5,625-square-foot multi-tenant retail property situated on a ±0.45-acre parcel along one of Eastside Costa Mesa’s most prominent commercial corridors. The property is strategically positioned along Newport Boulevard, benefiting from strong traffic exposure, excellent visibility, and convenient access to State Route 55, Interstate 405, and State Route 73. This high-profile location places the asset within one of Orange County’s most supply-constrained and highly sought-after retail submarkets.

The property is currently approximately 46% leased and features a mix of short-term leases and month-to-month tenants, providing near-term flexibility for an owner/user or investor to reposition the tenant mix, lease up vacant space, or occupy a portion of the property while maintaining in-place income. Existing tenants include service-oriented and specialty users that benefits from street exposure and on-site parking. Several leases are below market, creating a clear path for rental rate growth and NOI expansion.

2428 Newport Boulevard offers a strong physical and functional profile, including prominent pylon and building signage, a gated storage yard providing ancillary income, and an exceptional parking ratio of approximately 6.22 spaces per 1,000 square feet, well above typical retail standards in the submarket. These attributes enhance usability for both retail and office-oriented tenants and support long-term leasing demand.

Surrounded by dense residential neighborhoods and proximate to Newport Beach, Triangle Square, South Coast Plaza, John Wayne Airport, and the Irvine Business Complex, the property benefits from a strong daytime population, affluent consumer base, and sustained retail demand. Eastside Costa Mesa’s limited new retail development further supports long-term occupancy stability and rental growth.

2428 Newport Boulevard represents a compelling opportunity to acquire a well-located retail asset with immediate owner/user optionality and long-term upside in a high-barrier-to-entry Orange County submarket.

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