418 31st ST Newport Beach, CA 92663

Charming building on a rare double lot (60’ wide) in Cannery Village near the newly redeveloped Lido Marina Village, Lido House Hotel, beaches and bay. This existing commercial building includes eleven leased tenant spaces with long-term tenants. Rents are low with better cash flow potential than most other income opportunities on the Peninsula, including 2-4 unit apartment buildings. Additionally, site zoning is MU-CV/15th St which may permit other redevelopment uses such as new residential, mixed use residential and non-residential commercial uses. As an interior parcel, this site offers other benefits over corner lots in the Village should it be redeveloped. Properties of this type rarely come to market making this an amazing Cannery Village opportunity.