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Madison Square & Garden Cafe in Laguna Beach Sold for $5M

Trust Trades Retail Property
February 5, 2018
Laguna Beach FL Management, Inc. purchased the freestanding retail building at 320 N. Coast Hwy in Laguna Beach, CA from a private trust for $5 million, or $2,500 per square foot.

The single-story restaurant building, located on a 0.2-acre parcel, totals 2,000 square feet and was built in 1912.

The asset is fully occupied by the Madison Square & Garden Cafe restaurant, which the buyer is also purchasing. The business value was reported at roughly $600,000, and is expected to close escrow soon.

Paul Dolkas and Jeff Murray of The McMonigle Group Corp. represented the seller. Ron Duong and Catherine Zhong of Marcus & Millichap represented the buyer.

Please reference CoStar COMPS #4117119 for more information on this transaction.
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