Rare Orange County Del Taco | Below Market Rent
$3,800,000
31780 Del Obispo Street, Mission Viejo, CA 92675
3.5
Cap Rate
133,153
NOI
Details:
Highlights:
- Trophy San Juan Capistrano Location – Opportunity to acquire an irreplaceable single tenant net leased Del Taco drive-thru in a highly desirable market in Orange County, CA.
- Below-Market Rents with Major Upside – Del Taco has seven (7) years remaining on the original lease with three (3), five (5)-year options to extend. The Tenant is currently paying a below-market rent allowing for future upside in income potential.
Description:
Significant Lot Size with Development Potential – The Subject Property features five (5) parcels totaling 1.12 acres of land with leases signed by Del Taco and the City of San Juan Capistrano. These leases run concurrently and upon expiration landlord will have the ability to reposition the property. The current reversion value of the property is in excess of $5M, according to a recent MAI appraisal.
High Traffic and Strong Coastal Demographics – The Subject Property is situated off the San Diego 5 Fwy and Ortega Hwy 74, benefiting from 341,000 vehicles per day. There are over 91,000 people in the three (3)-mile radius with an average household income of more than $192,203.
Documents:
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Offering Memorandum
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Location
Gallery
