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27635562
29961254

621 W 19th St, Costa Mesa, CA 92627 For Sale

RN
CA01494486
AARE - Real Estate Mission Viejo
Listed by AARE - Real Estate Mission Viejo
$3,442,000
276 days on market
Updated 143 days ago
Opportunity zone

621 W 19th Street

Details
APN 424-211-07
Property Type Retail
Sub Type Shopping Center
Square Footage 4,898
Units 3
Cap Rate 5.18%
NOI $178,428
Occupancy 100%
Tenancy Multi
Brand/Tenant Little Caesars
Lease Type NN
Lease Term 20.1
Lease Expiration 05/31/2029
Remaining Term 2.9
Rent Bumps Yes
Lease Options Two, 5 years
Price per SqFt $703
Broker Co-Op Yes
Year Built 1958/2007
Year Renovated 2007
Buildings 1
Stories 1
Lot Size (SqFt) 11,760
Zoning C-1
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 05/15/2009
Occupancy Date 05/15/2009
Ground Lease No

Retail | 5.18% CAP | 4,898 SqFt

Marketing description

Three unit retail center located on west 19th street, Costa Mesa, one of the major thoroughfares with over 33,000 VPD, located next door to McDonald’s, across from In-N-Out, Good Will Store, DMV, and near other major national and regional retailers such as Bank of America, Wells Fargo Bank, 24 Hour Fitness, Bev Mo, Rubio’s, CVS, Grocery Outlet, and many more.

100% leased to three tenants: Little Caesars, OsteoStrong Health and Fitness, Up N Smoke

Investment highlights

  • 100% Leased

  • Unit A is rented to Up in Smoke, Unit B is rented to OsteoStrong, and Unit C is rented to Little Caesars

  • Little Caesars lease started in 2009; primary term expires 2029

  • Little Caesars exercised their option in 2024 and added two more Five year options

  • McDonald’s Adjacent

  • Located on 19th Street, a major high traffic thoroughfare with more than 33,000 VPD

  • Across from In-N-Out, DMV, Goodwill Store, and near other major tenants such as Bank of America, BevMo, Rubio’s, Dun Edwards Paint, 24 Hour Fitness, CVS, Grocery Outlet, and more

Listing Contacts

RN
CA01494486
AARE - Real Estate Mission Viejo
Listed by AARE - Real Estate Mission Viejo

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$178,428.00
$14,869.00/mo

Valuation Metrics

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DSCR
5.18%
Cap Rate
5.18%
ROI

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