310 Marine Avenue

Newport Beach, CA 92662

$3,495,000
Price
—
Beds
1,559 Sq. Ft.
$2,242 / Sq. Ft.
1,559
Sq. Ft.
$2,242
per Sq. Ft.

Description

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,...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.

Listing Agent

  1. Annie Clougherty

    Annie Clougherty

    Listing Agent

    Compass

    DRE #01716801

Property Details for 310 Marine Avenue

Parking Spaces Total
1
Total Units
2.0
Business Type
Food & Beverage
Lot Size Source
Assessor
Lot Size Dimensions
75 x 30
Building Area Total
1559
Building Area Units
Square Feet
Stories Total
1

Location

Listing Courtesy of Compass, Annie Clougherty, DRE #01716801
Add your commute
LISTING UPDATED: 03/05/2024 11:04 AM

Property Details for 310 Marine Avenue

StatusActive
MLS #NP24024850
Days on Market81
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale / Mixed Use
Year Built1946
Lot Size0.05 AC / 2,178 SF
CountyOrange County

Location

Listing Courtesy of Compass, Annie Clougherty, DRE #01716801
Add your commute

Building Information for 310 Marine Avenue

Stories1Residences-Year Built1946Lot Size0.05 AC / 2,178 SF

Payment Calculator

$20,025 per month

30 year fixed, 7.25% Interest

Principal and Interest

$19,074

Property Taxes

$951

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 310 Marine Avenue

Income / Expense / Tax Details
Income Details
  • Current Financing: None
Expense Details
  • Expense Year: $2,023
  • Electric Expense: $10,425
  • Insurance Expense: $13,755
  • Other Expense: $2,275
  • Trash Expense: $5,217
  • Water Sewer Expense: $1,850
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: In Kitchen, Inside
Exterior Features
  • Security Features: Carbon Monoxide Detector(s), Closed Circuit Camera(s), Security System, Smoke Detector(s)
  • Construction Materials: Stucco
  • Roof: Composition, Flat
Land/Lot Info
  • Sign on Property: Yes
  • Lot Features: Level with Street
  • Current Use Comments: Sugar n' Spice and residential in rear
  • Land Use: Retail
  • Lease Considered: No
  • Land Lease: No
  • Utilities: Sewer Connected
  • Water Source: Public
Parking Info
  • Uncovered Spaces: 1
Property / Structure Info
  • Building Name: Sugar n' Spice
  • Building Status: Existing
  • Asset Class: Retail
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Area: 1166
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 1
  • Unit Type Description: back residential
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Area: 393
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 2
  • Unit Type Description: Front shop
Unit Information
  • Number Of Units Leased: 0
  • Number Of Buildings: 1

Property History for 310 Marine Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 310 Marine Avenue

Taxable ValueLand$726,523Additions$87,975Total$814,498
Tax Record2023$11,407 ($951 / month)
Home Facts
Total Finished SqFt1,134 SqFtAbove Grade Finished SqFt1,134 SqFtStories1Lot Size2,250 SqFtStyleStoresYear Built1946CountyORANGEAPN050-151-14

Schools near 310 Marine Avenue

This home is within Newport-Mesa Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 12
Public - K to 12
Public - 9 to 12
Rating
School
Distance
Abraham Lincoln Elementary School
PublicK to 6

Corona Del Mar High School
Public7 to 12

Monte Vista High School
PublicK to 12

Back Bay High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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310 Marine Avenue is a mixed use property for sale in Newport Beach, CA 92662. This property was listed for sale on February 7, 2024 by Compass, it's currently listed at $3,495,000. This listing's school district is Newport-Mesa Unified School District. Nearby schools include Abraham Lincoln Elementary School, Corona Del Mar High School and Monte Vista High School. 310 Marine Avenue is a 0-bed, 0-bath, 1,559 sqft mixed use property built in 1946.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Annie Clougherty, DRE #01716801

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.