News Summary
A 7-Eleven property on Balboa Peninsula has been sold for $5.2 million, making waves in California’s competitive commercial real estate market. Located at 1920 W. Balboa Blvd., the deal marks a significant transaction in an area where retail properties are scarce. Listed initially for nearly $5.5 million, the store provides a net operating income of over $260,000 annually, enhancing its investment appeal. The sale reflects ongoing interest in prime locations like Newport Beach, which is characterized by high barriers to entry for potential retailers.
Newport Beach, California – A 7-Eleven location situated on Balboa Peninsula has been sold for $5.2 million, marking a noteworthy transaction in a region where such deals are rare. The property, located at 1920 W. Balboa Blvd., just south of the Pacific Coast Highway, was sold by M David Family Holdings, a California-based family trust.
The sale is notable for its high price tag, especially for an area characterized by significant challenges for new retailers and a scarcity of available triple-net retail properties. Kevin Held, a vice president of capital markets at Dallas-based SRS Capital Markets, has classified this particular property as a “rare opportunity” for potential investors due to the limited availability of similar investment options in the region.
The property in question was originally constructed in 1975 and has been a staple in the community. When put on the market, it was initially listed for nearly $5.5 million, boasting a net operating income exceeding $260,000 annually, a factor that contributes to its attractiveness for buyers. A private investor from California ultimately secured the purchase.
SRS Capital Markets was involved in representing the family trust during the transaction, underscoring their expertise in navigating the complexities of the Newport Beach market.
In conjunction with this sale, SRS Capital Markets has also announced an expansion of its Newport Beach office, enhancing its retail team with the addition of Jeff Straka, Debra Hoppe, and Hannah Rogers. These professionals have transitioned from Main + Main and will focus on serving tenants throughout Southern California and beyond.
The sale of the 7-Eleven in Newport Beach reflects ongoing interest in commercial real estate in desirable areas, despite the challenges associated with acquiring and developing properties in high-demand locations like Balboa Peninsula. The limited inventory and high barriers to entry for retailers speak to the attractiveness of such investments, making transactions like this a point of interest for real estate investors and market analysts alike.
As the commercial real estate market continues to evolve, the sale of the 7-Eleven serves as a significant indicator of investment confidence in retail spaces located in prime areas. The transaction highlights both the value of established businesses in sought-after locations and the competitive nature of real estate investment in coastal regions like Newport Beach.
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Additional Resources
- Orange County Business Journal
- Orange County Register
- Los Angeles Times
- Property Shark
- Google Search: Newport Beach real estate
Author: STAFF HERE COSTA MESA WRITER
COSTA MESA STAFF WRITER The COSTA MESA STAFF WRITER represents the experienced team at HERECostaMesa.com, your go-to source for actionable local news and information in Costa Mesa, Orange County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the OC Fair, Concerts in the Park, and Fish Fry. Our coverage extends to key organizations like the Costa Mesa Chamber of Commerce and Boys & Girls Clubs of Central Orange Coast, plus leading businesses in retail, fashion, and technology that power the local economy such as Vans, Experian, and South Coast Plaza. As part of the broader HERE network, including HEREAnaheim.com, HEREBeverlyHills.com, HERECoronado.com, HEREHollywood.com, HEREHuntingtonBeach.com, HERELongBeach.com, HERELosAngeles.com, HEREMissionViejo.com, HERESanDiego.com, and HERESantaAna.com, we provide comprehensive, credible insights into California's dynamic landscape.
