29911 Aventura - Storefront FOR SALE


Rancho Santa Margarita, CA 92688- Samlarc
$20,718,000 USD
949-221-1807
29911 Aventura, Rancho Santa Margarita, CA for Sale
$20,718,000 USD
Storefront - FOR SALE
1/5
null | 6% Cap Rate

29911 Aventura
Rancho Santa Margarita, CA 92688
Samlarc


HIGHLIGHTS

  • 100% NNN Leases / Affluent Demo's: Over $197,000 AHHI & Over 90,000 people with in 3-miles
  • Annual rent increases
  • 24% NOI Growth by year 3
  • Diversified income stream from health/wellness, daily needs, food, and services
  • Break up potential with two separate parcels | arbitrage investment opportunity
  • Master Planned Community | Extremely high barriers to entry within trade area

OVERVIEW

Faris Lee Investments is pleased to offer a rare opportunity to purchase a portion of the Plaza Empresa Commercial Center in the affluent South Orange County city of Rancho Santa Margarita. The offering features NNN leases with a diversified income stream from daily needs, health wellness, food, and services. The investment offers realistic upside potential with 16% vacancy and annual rent increases in every lease allowing for a projected 24% and 29% growth in NOI over 3 and 5 years upon lease up of the existing vacancies. There are 16 tenants with an average suite size of 2,225 sq. ft. which provides an optimal size space for tenants in this market. The many uses at the property provide for a pleasant and convenient experience as Plaza Empresa meets various customer needs in just one stop. Additionally, the offering provides greater flexibility with all leases having either no option to renew or a FMV option to renew, enabling the investor to aggressively grow the income stream while creating the optimal tenant mix. The offering comprises two parcels giving the investor the ability to potentially sell individual parcels for a profit and downsize the holding should the investment goals and objectives change. Rancho Santa Margarita is a master planned community having extremely high barriers to entry. The master planned design helps to support the existing properties by strictly limiting future development which prevents future competition and helps to ensure higher rental rates in the future. This center of town location is located between two major thoroughfares within the trade area – Santa Margarita Parkway (50,700 VPD) and Antonio Parkway (27,700 VPD). With the immediate trade area featuring residents having strong discretionary income (AHHI of $197,461 within a 3 mile radius), the tenants are well-supported by the affluent customer base within the community.

FOR SALE DETAILS

PRICE

$20,718,000 USD

PRICE/SF

$1,992 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shops @ Plaza Empresa / 24% NOI Growth Yr 3

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Restaurant, Storefront Retail/Office, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1987

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.21 AC

LAND SF

139,828 SF

ZONING

-

APN/PARCEL ID

805-051-17,805-051-18

ASK ABOUT THIS PROPERTY

Shaun RileyFaris Lee InvestmentsMore Info
949-221-1807

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Shaun RileyFaris Lee InvestmentsMore Info
949-221-1807

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.