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Southern California Investor Acquires Plaza Empresa Retail Center In Rancho Santa Margarita For $19M

Property Image
SOLD
$19,000,000

California

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Retail39,175 SF
Sold 11/01/2024
the dealdetailscomps
Property Image
SOLD

Southern California Investor Acquires Plaza Empresa Retail Center In Rancho Santa Margarita For $19M

29851 Aventura

See Similar Deals
Retail39,175 SF
Sold 11/01/2024
the dealdetailscomps

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$485
Total Square Footage:39,175 SF
Transaction Type:Sale

The retail asset involved in the transaction is located at 29851-29941 Aventura in the Rancho Santa Margarita market. It encompasses a total area of 39,175 square feet and was sold for $19,000,000, which translates to approximately $485.60 per square foot. The property is currently 96% occupied and is anchored by a U.S. Post Office and Laguna Beach Brewery.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $19,000,000
  • Square Footage: 39,175
  • Price Per Square Foot: $485.60
  • Market: Rancho Santa Margarita
  • Buyer’s Representative: Faris Lee Investments
  • Seller’s Representative: Coastal Commercial
  • Cap Rate: 7%

Faris Lee Investments facilitated the transaction, representing the buyer, a Southern California investor who was conducting a tax-deferred exchange. Coastal Commercial represented the seller in this deal.

Details

SOLD
IMAGE: 11/01/2024 ADDRESS: 29851-29941 Aventura MARKET: Rancho Santa Margarita ASSET TYPE: Retail BUYER'S REP: Faris Lee Investments SELLER'S REP: Coastal Commercial (@CoastalCommercialAdvisors) SALE PRICE: $19,000,000 SF: 39,175 ~ PPSF: $485 NOTE: Faris Lee Investments facilitated the sale of 39,175 square feet of Plaza Empresa in Rancho Santa Margarita for $19 million, or $485.60 per square foot, resulting in a 7% cap rate. The retail center, which is 96% occupied and anchored by a U.S. Post Office and Laguna Beach Brewery, was purchased by a Southern California investor conducting a tax-deferred exchange.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$67,502.99
Cash-on-Cash Return-1.27%
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