Newport Beach, CA 92662 310 Marine Avenue
$3,495,000
23 more
Presented By: Annie Clougherty with Compass; 949-375-3037
Home Details
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 private attorney.
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.
Presented By: Annie Clougherty with Compass; 949-375-3037
Interior Features for 310 Marine Avenue
Other Interior Features
LivingAreaSourceAppraiser
Air Conditioning Y/NYes
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesInside, InKitchen
Street SuffixAvenue
Total Stories1
Other Rooms
Entry Level1
General for 310 Marine Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Building NameSugar n' Spice
Business TypeFoodBeverage
Carport Y/NNo
CityNewport Beach
Construction MaterialsStucco
CoolingWallWindowUnits
CountyOrange
Current FinancingNone
Days on Market27
DirectionsTurn south onto Marine avenue from Bayside Drive.
Electric Expense10425.0
Exclusionsone freezer
Expected Active Date 2024-02-07
Garage Y/NNo
HOA / Comm AssnNo
HeatingCentral
Home Warranty Y/NNo
Insurance Expense13755.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCashtoNewLoan
Lot Size Square Feet2178.0
MLS AreaN9 - Lower Newport Bay - Balboa Island
MobileHomeRemainsYNNo
New ConstructionNo
Number of Units Leased0
Occupancy TypeOwner
Open Parking Spaces1.0
Private PoolNo
Property Attached Y/NNo
Property Sub Type AdditionalMixedUse
Property SubTypeMixedUse
Property TypeCommercialSale
Rent Control Y/NNo
RoofComposition, Flat
Security FeaturesSecuritySystem, ClosedCircuitCameras, CarbonMonoxideDetectors, SmokeDetectors
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameMarine
Total Units2
Trash Expense5217.0
UtilitiesSewerConnected
View Y/NNo
Virtual TourClick here
Water Sewer Expense1850.0
Waterfront Y/NNo
Year Built1946
Year Built SourceAssessor
ZoningMixed Use
Exterior for 310 Marine Avenue
Building Area Total1559.0
Crops Included Y/NNo
Horse Y/NNo
Inclusionssee inclusions list in supplements
Irrigation Water Rights Y/NNo
Lot Dimensions75 x 30
Lot FeaturesStreetLevel
Lot Size Acres0.05
Lot Size Area2178.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
LotDimensionsSourceAssessor
Number of Buildings1
Open Parking Y/NNo
SpaNo
Total Parking1.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480