Garden Grove, CA - Former Joe's Crab Shack

Description:

SRS National Net Lease is pleased to provide the opportunity to lease or purchase the fee simple interest (land and building ownership) in a freestanding vacant restaurant building located in Garden Grove, California (Orange County). The offering consists of a 8,030 SF former Joe’s Crab Shack situated on approximately 0.36 acres, offering investors and owner-users the opportunity to reposition or redevelop a highly visible restaurant asset in a dense Southern California trade area. This offering presents the rare opportunity to acquire a generational-grade asset within the highly coveted Anaheim Resort District, within a dense, infill trade area with extremely high barriers to entry. The asset is ideally located within Harbor Hotel Plaza which features exceptionally high-performing national restaurant tenants, with Outback Steakhouse ranking in the 97th percentile nationwide, Red Robin in the 88th percentile nationwide, and Oggi’s Pizza & Brewing in the 78th percentile nationwide for customer visitation, according to Placer.ai data.

The Former Joe’s Crab Shack is strategically located at the signalized, hard corner intersection of Chapman Avenue and South Harbor Blvd which supports more than 59,000 vehicles per day. Harbor Boulevard is the main thoroughfare for visitors traveling to Disneyland. In addition, the asset is in the heart of the Anaheim Resort District, a 1,100-acre hospitality and entertainment corridor that features approximately 90 hotels and is projected to generate approximately $302.8 million in annual revenue for the 2025-26 fiscal year. The site is located just over one mile south of the world-renowned Disneyland Resort, which attracts more than 28 million annual visitors and employs over 36,000 people. Furthermore, the Property is located less than three miles from Angel Stadium and the Honda Center, both of which are connected by the transformative OCVIBE development, a planned $4 billion, 100 acre mixed use entertainment district expected to include hotels, residential units, office space, restaurants, concert venues, and more than 20 acres of public open space. The Honda Center hosts more than 150 events annually and accommodates up to 18,000 guests per event, while Angel Stadium has a seating capacity of approximately 45,000 and attracts millions of visitors each year as the home of Major League Baseball’s Los Angeles Angels. Moreover, the Property is located just two blocks south of the Anaheim Convention Center, the largest convention center on the West Coast encompassing more than 1.8 million square feet. The site is in the heart of the Anaheim Resort District which features approximately 90 hotels and is projected to generate approximately $302.8 million in annual revenue for the 2025-26 fiscal year, highlighting the area’s significance as one of Southern California’s premier hospitality and tourism destinations. Lastly, Disney’s DisneylandForward expansion initiative was recently approved, which includes an estimated $1.9 billion investment expected to drive increased tourism, hotel demand, consumer spending, and long-term growth throughout the Anaheim Resort District. The dense, 5-mile subject trade area is supported by more than 812,000 residents and 322,000 daytime employees. Residents in a 3-mile radius boast affluent average household incomes of $114,711.

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Listing ID: a28TP000002jCQTYA2