234 Forest Ave, Laguna Beach, CA 92651

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NNN, Alessa Restaurant investment property located in Laguna Beach, California (Orange County). The tenant has 20 years remaining on its lease and has occupied the site since 2000, demonstrating their commitment to the site. The lease features annual CPI based rental increases, growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. The tenant is Chef Alessandro Pirozzi, Inc., which operates Alessa and additional Orange County restaurant concepts. The Seller is currently completing various major capital improvements scheduled for completion by late January 2026 (contact agent for details).

The subject property is located within The Promenade on Forest, a highly trafficked, walkable pedestrian plaza in the heart of Laguna Beach. Surrounded by a curated mix of local boutiques, luxury retailers, and popular dining concepts, the Promenade serves as a year-round destination for shopping, dining, and cultural events, including live music and art installations. The property benefits from significant consumer traffic driven by its proximity to Main Beach, the city’s premier public beach and a magnet for both tourists and locals. Laguna Beach attracts over 6 million annual visitors with more than $550 million in yearly visitor spending, providing a robust foundation for continued retail and restaurant success. The site also enjoys direct access via Pacific Coast Highway (40,000 VPD), connecting it to a dense and affluent Southern California demographic. Within a 3-mile radius, the area boasts an average household income of $224,271 and is supported by over 106,400 residents and 48,200 employees, reinforcing long-term demand for high-end dining and retail in this premier coastal market.