
Newport Beach, California 92662
Outstanding Balboa Island Commercial and Residential Mixed-Use building, centrally located near the Ferry, Balboa Pavilion, shopping, and restaurants. At 3,026 square feet, this is one of the largest buildings on the Island on a standard 30 x 85-foot lot. The lower-level commercial space has previously been leased as a dentist's office but would be ideal for a wide variety of retail or professional uses, and may also be leased as two separate commercial spaces. Behind this space are two large office/workshop areas, a half bathroom, and laundry facilities. The upstairs unit is bright and spacious, with three bedrooms, two baths, and an abundance of built-in storage. Completing the upper level is a huge, inviting, partially covered deck, perfect for daily living, dining, and entertaining. This unit is currently leased as a residence with long-term tenants. In the rear of the property is a two-car garage, plus open spaces for one or two additional vehicles. 122 Agate is a rare and exciting offering, perfect for a homeowner, entrepreneur, or investor!
Property is moderate renovation needed.
Originally built in 1937, this mixed-use property shows signs of partial updates but remains dated in key areas. While the commercial space is well-maintained, the residential kitchen features older painted cabinetry, dated fixtures, and a wood-paneled ceiling suggesting a renovation older than 15-20 years. Given the building's age and the need for modern cosmetic and system updates in the residential unit, it fits the 'Fair' criteria.
The property offers a rare combination of ground-floor commercial space and a spacious residential unit, providing multiple income streams or a unique live-work opportunity for an owner-user.
Centrally located near the Ferry, Balboa Pavilion, and high-traffic retail areas, this property benefits from exceptional visibility for commercial use and a premium coastal lifestyle.
At 3,026 square feet, this is one of the largest buildings on a standard 30x85-foot lot, offering an expansive floor plan and a large, inviting deck that is rare for the area.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3026, other record living area = 2000.
Originally built in 1937, the property may require significant capital investment for structural updates, modernizing systems, or aesthetic renovations to meet contemporary standards.
The residential unit is currently occupied by long-term tenants, which may limit immediate flexibility for owner-occupancy or the ability to quickly reposition the asset for higher market rents.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 0.0 |
| Baths | 4.0 | 0.0 |
| Square foot | 3,026 | 3,080 |
| Lot Size | 2,550 | 2,614 |
| Price | $3.19M | $4.35M |
| Price per sq ft | $1.1K | $1.6K |
| Built year | 1937 | 1938 |
| HOA | $0 | $0 |
| Days on market | 94 | 154 |
Jul 23, 2026
$3,195,000
Initial Listing