Available For Sale - Retail

27,301 SF | Show Pricing $

Retail Space in San Juan Capistrano for sale
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AVAILABILITY DETAILS

Size
27,301 SF
Price/SF
Show Pricing $
Listing ID
SA416801
Notes
We are pleased to offer the rare opportunity to acquire the fee simple interest (land and building ownership) in a NNN leased,

corporate guaranteed, 24 Hour Fitness investment property located in San Juan Capistrano, California (Orange County MSA). The tenant, 24 Hour Fitness

USA, Inc., has 14 years remaining in their initial lease term with 3 (5-year) option periods to extend. The lease features 11% rental increases every 5 years

throughout the initial term and at the beginning of each option period, generating healthy NOI growth. The lease is NNN with landlord responsibilities

limited to roof and structure. The brand new state-of-the-art property opened in December 2018. The asset is a relocation gym with a strong, existing client

base of more than 12,000 members. The site presents a generational opportunity to acquire irreplaceable real estate in South Orange County, a highly

coveted location with significant barriers to entry and limited on-market supply. 24 Hour Fitness is strategically positioned adjacent to Interstate 5, one of the

most highly trafficked interstates in the state of California with 261,000 vehicles passing by daily. The asset is also located near Ortega Highway (37,100

VPD), one of the few arterial highways connecting South Orange County to the Inland Empire. Additionally, the subject property is ideally positioned across

Interstate 5 from Plaza Del Obispo Shopping Center anchored by Marshalls and Rite Aid, promoting crossover traffic to the site. Other nearby tenants include

Costco, Ralphs, Trader Joe???s, Petco, Ross Dress for Less, Vons, PetSmart, CVS, and more, further increasing consumer draw to the trade area. Moreover,

24 Hour Fitness is less than half a mile from both Marbella Estates and The Hunt Club, two privately gated communities featuring current home values north

of $5 million. The 5-mile trade area is supported by a dense population of more than 208,000 resident with an impressive average household income of

$154,993. Orange County is one of the most affluent and desirable regions in Southern CA, and is the second most densely populated county in the state of

CA.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Josh Salik, Salik Real Estate & Development