Listed by CBRE - Orange County
$24,639,000
The Village
Details
APN 612-161-13
Property Type Retail
Sub Type Shopping Center
Square Footage 32,592
Net Rentable (SqFt) 32,592
Cap Rate 5.40%
NOI $1,330,512
Occupancy 100%
Tenancy Multi
Lease Type NNN
Pro-Forma Cap Rate 5.80%
Pro-Forma NOI $1,428,790
Price per SqFt $756
Year Built 2006
Buildings 2
Acreage 3.390
Zoning PC - Planned Community
Parking Spaces 155 spaces
Parking per 1,000 SqFt 4.76
Investment Type Stabilized
Ground Lease No
Retail | 5.40% CAP | 32,592 SqFt
Marketing description
The Village is a ±32,592 SF, 100% occupied retail strip center located in the retail and residential focused Foothill Ranch of Lake Forest, featuring a proven, daily needs mix of national and regional tenants all on NNN leases. Benefiting from strong occupancy and complimentary surrounding retail, the property offers stable in-place income and solid long-term growth potential for investors.
The property is strategically located near the CA-241 Toll Road, drawing from a broad trade area serving the established suburban communities of Pinecrest, Portola Springs, and Rancho Santa Margarita. The Village is located directly across the street from Foothill Ranch Towne Centre, anchored by Walmart, Target, Hobby Lobby, PetSmart, and a future Costco, benefiting from exceptional visibility, high foot traffic, and strong tenant demand.
Investment highlights
- Irreplaceable Lake Forest Investment Opportunity - The Village is a ±32,592 SF, 100% occupied retail strip center located in the retail and residential focused Foothill Ranch of Lake Forest, featuring a proven, daily needs mix of national and regional tenants all on NNN leases
- Benefiting from strong occupancy and complimentary surrounding retail, the property offers stable in-place income and solid long-term growth potential for investors
- Strong Historical Occupancy - Six tenants, ±35% of GLA (±11,318 SF) have occupied the center for over 10 years, demonstrating a recession-resistant asset with exceptional tenant commitment to this location
- Stable Cash Flow with Exceptional Income Growth - NOI is projected to increase by more than $535,000 (±40%) over the projected 10-year hold period, generating a +3.4% CAGR
- Complementary Surrounding Retail - Located directly across the street from Foothill Ranch Towne Centre, anchored by Walmart, Target, Hobby Lobby, PetSmart, and a future Costco, this prime retail site benefits from exceptional visibility, high foot traffic, and strong tenant demand
- Convenient Access, Significant Frontage - Situated along Towne Centre Dr (±7,000 CPD) and Bake Pkwy (±15,500 CPD), with direct access to Lake Forest Dr (±18,500 CPD) and the CA-241 Toll Road (±36,500 CPD), driving strong daily exposure and accessibility
- Established Surrounding Communities - Strategically located near the CA-241 Toll Road, The Village draws from a broad trade area serving the established suburban communities of Pinecrest, Portola Springs, and Rancho Santa Margarita
- Internet Resistant Tenant Mix - The Village features a dynamic tenant roster, including national, regional, and local retailers offering a mix of food and beverage, retail, health, and service-focused businesses that are difficult to replicate online, generating strong "daily trip" traffic to the property
- Ideally Sized Tenant Suites - The average suite size is ±1,917 SF, conducive to high occupancy, optimal rents, and low tenant improvement costs, keeping capital expenditures to a minimum year-to-year
- Income Stream Diversity - With 17 tenants, all on NNN leases, no tenant accounts for more than ±11% of the project's square footage or income
- High Barriers to Entry - The trade area is topographically restricted by Trabuco Canyon, part of the greater Saddleback Mountains, and densely populated, creating high barriers to entry and limiting new competition
- High Quality Acquisition - The Village has been professionally managed, leased, and maintained, providing the utmost care to the property and tenants
- NNN + Admin Fees - All tenants feature NNN leases, with most administration fees and management fees recovered, resulting in few if any landlord capital responsibilities
- Free and Clear of Existing Financing - The Village will be delivered free and clear of existing financing, permitting investors the opportunity to customize debt to achieve optimal returns
Listing Contacts
Listed by CBRE - Orange County
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,330,512.00
$110,876.00/mo
Valuation Metrics
0
DSCR
5.4%
Cap Rate
5.4%
ROI
Map
Zoning
C CommercialGeneral CommercialCommercial
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