855-948-0558
31911-31991 Dove Canyon Dr, Rancho Santa Margarita, CA for Sale
Storefront - FOR SALE
1/9
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31911-31991 Dove Canyon Dr
Rancho Santa Margarita, CA 92688


HIGHLIGHTS

  • Dove Canyon Plaza is a 65,677-square-foot retail center on 8.99 acres at 94% occupancy, with most tenants on NNN leases to reduce expense leakage.
  • Located at the gateway to Dove Canyon and Coto de Caza, sought-after neighborhoods with median home sale prices of $1.7M and $2.2M, respectively.
  • Anchored by Hoag Memorial Hospital (urgent care), Mariners Church, and the Goddard School, providing consistent, multifaceted daily traffic.
  • 94% leased with an e-commerce-resistant roster of essential service, retail, food, medical, and education users, boasting a robust WALT of 7.2 years.
  • Minimized near-term capital expenditures with renovations made from 2023 to 2026, including full exterior repainting and parking lot restriping.
  • Constrained land mitigates new commercial builds, underscoring the long-term value of acquiring an established destination amidst affluent consumers.

OVERVIEW

SRS Capital Markets is pleased to present the exclusive investment opportunity to acquire Dove Canyon Plaza, a 65,677-square-foot anchored retail center situated at the gateway to two of South Orange County’s most coveted gated communities, Dove Canyon and Coto de Caza. This fee simple offering represents a rare chance to own institutionally positioned retail real estate in a submarket defined by extreme wealth concentration, physical land constraints, and virtually zero new commercial supply. In addition, Dove Canyon Plaza has recently undergone comprehensive capital improvements, including full exterior repainting and parking lot restriping, upgrading it to institutional condition. Dove Canyon Plaza is a generational stabilization play with a clear path already underway. 74% of the gross leasable area (GLA) has been leased over the past 3 years, uplifting the occupancy rate to 94%, with most tenants on NNN leases. This rapid lease-up, combined with a weighted average lease term (WALT) of 7.2 years, reflects a tenant base actively choosing this location. The anchor composition is purpose-built for durability. Hoag Memorial Hospital’s urgent care operation, Mariners Church, and Goddard School account for 54% of occupancy. These anchors generate recurring foot traffic for the surrounding in-line businesses, such as My Gym, Dove Café, wellness services, specialized shops, and more. Situated on 8.99 acres in a dense infill area with high barriers to entry, this is an irreplaceable coastal location in South Orange County. Dove Canyon Plaza is nestled in an affluent suburban node, home to some of the county’s most prestigious neighborhoods, and is constrained by significant geography, making it effectively impossible for new competing commercial projects. This allows Dove Canyon to capitalize on the powerful trade area, as evidenced by the more than 114,000 residents with average annual household incomes exceeding $198,000 within a 5-mile radius. For investors seeking a well-leased, cash-flowing retail asset in a supply-strained market, Dove Canyon Plaza represents an uncommon convergence of income quality, demographic strength, and location permanence.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dove Canyon Plaza | NNN Leases

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Freestanding, Storefront Retail/Office, Department Store

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1991

SPRINKLERS

-

PARKING SPACES

293

LAND DETAILS

LAND ACRES

8.99 AC

LAND SF

391,604 SF

ZONING

CN

APN/PARCEL ID

804-542-26

ASK ABOUT THIS PROPERTY

John RedfieldSRS Real Estate PartnersMore Info
855-948-0558

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John RedfieldSRS Real Estate PartnersMore Info
855-948-0558

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