979 Avenida Pico - Freestanding FOR SALE


San Clemente, CA 92673
$23,251,000 USD
949-221-1821
979 Avenida Pico, San Clemente, CA for Sale
$23,251,000 USD
Freestanding - FOR SALE
1/20
null | 5% Cap Rate

979 Avenida Pico
San Clemente, CA 92673


HIGHLIGHTS

  • Rare chance to acquire a top-performing shadow anchored grocery center in a premier South Orange County retail market
  • Assumable 4.40% fixed-rate loan with full-term interest-only payments, maturing in May 2029
  • Excellent National/ Regional Retailers: Board & Brew , Baja Fresh, AT&T , Verizon, NFCU, Mattress Firm
  • Albertsons recently spent significant capital converting to Pavilions- higher end grocery concept
  • Adjacent to New State of Art $20M Hoag Medical Center- 20Ksqft – serving San Clemente trade area
  • Affluent, densely populated area with $195K+ average income and 35K+ daytime employees nearby

OVERVIEW

Faris Lee Investments is pleased to offer the rare opportunity to acquire a South Orange County shadow anchored grocery center in the affluent community of San Clemente, California. The center is shadow anchored by a recent fully renovated Pavilions with an excellent tenant lineup including Board & Brew , Baja Fresh, Verizon Wireless, AT&T, NFCU and Mattress Firm. Plaza Pacifica is the dominant community center in San Clemente and is additionally anchored by Walmart and Lowe’s. The property’s location provides ideal positioning for tenants to draw customers from the surrounding neighborhoods, further establishing the center’s dominant and competitive position within the trade area. Plaza Pacifica thrives from the high discretionary income trade area with an average household income in excess of $195,000 within a 3 mile radius, and the densely in-fill trade area, over nearly 100,000 permanent residents and 35,000 daytime consumers within a 5-mile radius of the subject property.

FOR SALE DETAILS

PRICE

$23,251,000 USD

PRICE/SF

$977 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Plaza Pacifica

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food, Restaurant, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2002

SPRINKLERS

-

PARKING SPACES

117

LAND DETAILS

LAND ACRES

2.43 AC

LAND SF

105,851 SF

ZONING

C-C

APN/PARCEL ID

688-131-22

ASK ABOUT THIS PROPERTY

Donald MacLellanFaris Lee InvestmentsMore Info
949-221-1821

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Donald MacLellanFaris Lee InvestmentsMore Info
949-221-1821

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