370 Glenneyre St - Restaurant FOR SALE


Laguna Beach, CA 92651
$3,681,000 USD
949-400-0720
370 Glenneyre St, Laguna Beach, CA for Sale
$3,681,000 USD
Restaurant - FOR SALE
1/5
null | 5% Cap Rate

370 Glenneyre St
Laguna Beach, CA 92651


HIGHLIGHTS

  • Retail Opportunity in “Ground Zero” Location
  • Long-Term Lease – Oto Sushi enjoys a long-term, 10-year lease with 3% annual increases
  • Trophy Building – Downtown Laguna Beach investment opportunity surrounding by a wide variety of retail boutiques

OVERVIEW

* Retail Opportunity in “Ground Zero” Location – Built in 1930 (with a full remodel in 2024), Oto Sushi presents an uncommon opportunity to acquire an extremely well-located, STNL restaurant offering merely steps away from the heavily traveled pedestrian promenade of Forest Avenue in the “Main Beach” area of downtown Laguna Beach * Long-Term Lease – Oto Sushi enjoys a long-term, 10-year lease with 3% annual increases, plus percentage rent of 6% over a breakpoint, providing an excellent hedge against inflation * Low Management/Low Hassle Opportunity – With just one tenant on a long-term NNN lease, the ease of management makes this offering a coupon clipper and a perfect investment for an investor looking for passive income in a marquee coastal property * Trophy Building – Downtown Laguna Beach investment opportunity surrounding by a wide variety of retail boutiques along Forest Avenue and Glenneyre Street, upscale hotels, 5-star resorts, iconoclastic art galleries, complementary bars and restaurants and one short block from Laguna’s Main Beach * Iconic Location – Oto Sushi represents a “one of a kind” opportunity to own a highly coveted retail asset in the heart of Laguna Beach, known for being an international tourism destination (with over 6 million visitors, annually), situated at the heart of the downtown walking district

FOR SALE DETAILS

PRICE

$3,681,000 USD

PRICE/SF

$1,057 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oto Sushi

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1930

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

CBD-2

APN/PARCEL ID

641-265-12

ASK ABOUT THIS PROPERTY

Megan LanniCBRE, Inc.More Info
949-400-0720

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Megan LanniCBRE, Inc.More Info
949-400-0720

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