Newport Beach, California, is a prime location for investing in shopping centers, offering a unique blend of coastal charm and economic stability. Shopping centers in Newport Beach represent a diverse range of investment opportunities, from small, boutique retail spaces to large, multi-tenant complexes. With a strong local economy driven by tourism, real estate, and retail, shopping centers in Newport Beach can provide a steady stream of income for investors. The city's amenities, such as Fashion Island, Upper Newport Bay, and the Pelican Hill Golf Club, attract visitors and residents alike, creating a built-in customer base for shopping centers. Additionally, Newport Beach's highly educated population, with nearby institutions like the University of California, Irvine, and the Fashion Institute of Design & Merchandising, contributes to a strong and stable local economy. With its stunning coastal location, mild climate, and rich cultural scene, Newport Beach is an attractive destination for both businesses and tourists, making it an ideal place to invest in a shopping center.
Currently, there are 2 shopping centers for sale in Newport Beach, offering a range of investment opportunities. The average price per square foot for shopping centers in Newport Beach is $712 USD, with an average size of 29,018 square feet. The largest shopping center available for sale is 39,334 square feet. In addition to shopping centers, Newport Beach also offers a range of other investment opportunities, including restaurants, specialty properties, land, and office properties. For example, restaurants in Newport Beach can take advantage of the city's thriving food scene, while specialty properties, such as those in the Balboa Fun Zone, can capitalize on the area's unique charm. Land investors can find opportunities in the city's coastal areas, such as the Newport Coast, while office properties can benefit from the city's strong economy and highly educated workforce. With its diverse range of investment opportunities, Newport Beach is an attractive destination for investors looking to diversify their portfolios.
What is the average cap rate for shopping centers in Newport Beach?
For investors seeking to acquire a shopping center in Newport Beach, it's essential to understand the current market conditions, and as of now, there are 2 available listings, with an average cap rate of 5.63%, which can provide a solid return on investment, considering the city's strong retail sector and tourist attractions like Fashion Island.
