320 N Coast Highway
Laguna Beach, CA 92651
MLS #OC16740078

Commercial
  • 2,000sq ft
$5,938,000
Est. P&I payment: $22679.14/mo
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Description for 320 N Coast Highway, Laguna Beach, CA 92651
Ultimate trophy property in absolute best location in Laguna Beach. Very popular Madison Square & Garden Cafe is a landmark in the city. Rare opportunity to secure an incredible north Laguna location just one block from Main Beach, Heisler Park and Pacific Ocean. This historic property is adjacent to landmarks including Laguna Art Museum, Las Brisas Restaurant, and the newly re-opened Royal Hawaiian. Bustling area with massive foot traffic next to Urth Cafe and in the middle of the popular north gallery district. Classic Craftsman bungalow is set on large parcel with towering mature trees as the perfect back drop. Customers are greeted by the inviting front porch and wonderful architectural detailing. Endless possibilities with flexible interior retail/dining space and expansive, multiple garden settings outdoors. Complete commercial kitchen can suit many restaurant options. Convenient upstairs managers suite could be a residence, efficient office space or leased separately for additional income. C-1 zoning offers flexible use, and approved CUP allows wine and beer service. Current owner has invested over $1,000,000 in improvements that will provide years of low cost maintenance for the next investor. Possible reduction of property taxes through Mills Act. Perfect timing to invest in north Laguna with redevelopment happening in this block. This is truly a unique and special property with endless possibilities. Opportunities such as this come along only once in a lifetime.
MLS #OC16740078
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My Notes for MLS #OC16740078

General Features

  • Building Status: Existing
  • Business Type: Restaurant
  • Condo Area Units: Square Feet
  • Land Use: Other,​Retail
  • Max Total Area Units: Square Feet
  • Min Total Area Units: Square Feet
  • Number Of Buildings: 2
  • Number Of Units Total: 1
  • Property SubType: Retail
  • Property Type: Commercial Sale
  • Year Built: 1912
  • Year Built Source: Assessor
  • Zoning: C-1

Exterior Features

  • Construction Materials: Shingle Siding
  • Fence YN: 1
  • Parking Total: 6
  • Roof: Composition,​Shingle
  • Signage: Sign on Building
  • Stories Total: 2

Interior Features

  • Building Features: Living Quarters

Utility Features

  • Heating YN: 1
  • Heating: Central Furnace
  • Laundry Features: On Upper Level
  • Water Source: Public

Financial Features

  • Accounting Type: Actual
  • Current Financing: Conventional
  • Expense Year: 2015
  • Gross Scheduled Income: 685,000
  • Net Operating Income: 483,000
  • Operating Expense: 175,000
  • Price Per SqFt: 2,969
  • Tax Annual Amount: 10,595
  • Tax Year: 2015
  • Total Expenses: 175,000

Miscellaneous Features

  • Building Area Total: 2,000
  • Building Area Units: Square Feet
  • Days On Market: 355
  • Inclusions: Both Property and business included in sale
  • Lot Size Source: Assessor
  • Special Listing Conditions: Standard

Location

 
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Directions to 320 N Coast Highway, Laguna Beach, CA 92651
Coast Hwy Between Aster and Jasmine
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P&I Payment $22679.14
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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on EXIT Alliance Realty's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. EXIT Alliance Realty, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 11/19/2017 at 9:33am
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