Rancho Santa Margarita, CA - Walgreens & Shops
Market Price
30592 Santa Margarita Pkwy, Rancho Santa Margarita, CA 92688
600,000
NOI
15,099 sqft
Building Size
Details:
Description:
SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Walgreens & Shops located in Rancho Santa Margarita, California (Orange County MSA). The center consists of a diverse, ecommerce resistant tenant lineup comprised of retail and service tenants, creating a stabilized income stream for a future investor. All the tenants operate under leases which are NNN in nature minimizing expense leakage for a future investor. The site presents a rare opportunity to acquire an irreplaceable retail center in South Orange County, a highly desirable location with significant barriers to entry and minimal available on market supply.
The asset is strategically located at the signalized, hard corner intersection of Santa Margarita Parkway and Avenida de Las Flores which supports over 43,000 vehicles per day. Furthermore, the subject property benefits from nearby access to State Highway 241 (43,000 VPD) and Santa Margarita Parkway (26,000 VPD), making this an ideal, centralized location with easy commutes. The asset is ideally positioned in the heart of Rancho Santa Margarita Town Center, a 275,000 SF power center anchored by Target, Ross, Trader Joes, Big 5, and more. Other nearby national/credit tenants include Walmart Neighborhood Center, Lowe’s, Kohls, Pavilions, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. The asset is within walking distance from Eaves Santa Margarita (302 units), Overture Rancho Santa Margarita (115 units), FountainGlen at Rancho Santa Margarita (166 units), and more, providing a direct residential consumer base from which to draw. The 5-mile subject trade area is supported by more than 173,000 residents and 55,000 daytime employees. Residents within a 3-mile radius boast an extremely affluent average household income of more than $207,000.
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