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Investment Summary This investment opporunity to acquire a free standing Jiffy Lube building held under a triple net lease. The property lies in an attractive retail center surrounded by businesses including Bravo Burgers, Ramona Tire and Automotive Services, Advance Tech, Saddleback Automotive, EZ Smog Check, Animal Medical Center of Mission Viejo and Samurai Sushi. The absolute triple net lease bears no landlord responsibility, and features 1.0% annual rent increases. The original lease commenced in 1989, so the property is midway through it' s first option period. The 2nd option period will commence on November 1, 2019. Highlights: »» Located next to large shopping center containing: »» Stein Mart Grocery, Big Lots, Ralphs, Elks Lodge, Launderland, UPS Store, Yogurtland, El Pollo Loco, Carl' s Jr., Chase Bank, Pizza Hut, Flame Broiler, Round Table Pizza »» Situated directly West of Civic Center where Mission Viejo City Hall, Library and Community Development Center are located »» One-mile average household income is greater than $140,00
Marcus & Millichap is pleased to present Silverado Plaza located in the master planned community of Mission Viejo, California. The property is located off the South West corner of Jeronimo Road and Los Alisos Boulevard. The real estate consists of 18,509 square feet of improvements sitting on a 1.5 acre parcel. The property is located off the South West corner of Jeronimo Road and Los Alisos Boulevard where traffic counts exceed 40,000 vehicles per day. The property is 100% stabilized with a very low historical vacancy. Current rents at the subject property average $21 per square foot, NNN. Typical retail rents in the submarket average $36 NNN, allowing the investor rental upside as leases roll. The property is anchored by Apple Tree Montessori Preschool occupying 31% of the gross lease able area, with 4% annual rental increases and 10 plus years remaining on the lease. The real estate was tastefully renovated in 2014 with stacked rock pillars and a new roof. The investment offers a secure income stream with upside potential, in a very desirable South Orange County location.
Los Alisos Village was constructed in 1982 and is situated on approximately 4.56 acres. National and regional retailers within the collateral include AutoZone, Baskin Robbins, and Taco Mesa. The property' s tenants are set amid an open-air layout, which provides a pedestrian-friendly atmosphere. The property provides an investor with a value-add opportunity with the ability to implement a lease-up strategy. Specifically, there is approximately 2,865 square feet of vacant space within the subject property, which represents approximately nine percent of the GLA.
" Land pad for sale asking $1,200,000 " Buildable up to 4,000 sq.ft. of commercial space " Prime South Orange County Location " High Profi le, Pad location in front of Von' s and CVS anchored shopping center " Affl uent Residential Population " Signalized entrance " Easy Access & Visibility from The Foothill Toll Road (SR-241) " Great building and monument signage