Rancho Santa Margarita, CA - Dove Canyon

Description:

SRS Capital Markets is pleased to present the opportunity to acquire the fee simple interest (land & building ownership) in Dove Canyon Plaza, an anchored retail center located in Rancho Santa Margarita, CA (Orange County). The property is currently 86% leased to an e-commerce-resistant tenant lineup of essential retail, service, medical, and education users. Anchored by Goddard School (franchisee), Mariners Church, and Hoag Memorial Hospital (urgent care), the center benefits from consistent daily traffic and long-term tenancy stability. Furthermore, the center has a weighted average lease term (WALT) of 7.4 years, with nearly 74% of the current GLA leased to tenants who have signed new leases within the past three years, providing strong income durability and limited near-term rollover risk. A majority of the tenant lineup operates under leases that are NNN in nature, reducing expense leakage for a future investor. The offering presents a rare opportunity to acquire a generational-quality asset in a wealthy, highly covenanted Orange County neighborhood, located within a dense infill trade area with significant barriers to entry.

Dove Canyon Plaza is ideally located near the signalized, hard corner intersection of Dove Canyon Drive and Plano Trabuco Road, which serves more than 28,000 vehicles per day. The site also benefits from nearby access to State Highway 241 (43,000 VPD) and Antonio Parkway (27,000 VPD), making this an ideal, centralized location with easy commutes. Furthermore, the center is within walking distance from Santa Margarita Catholic High School, a highly regarded private college-preparatory institution serving over 1,700 students with a strong academic reputation, a student-teacher ratio of approximately 15:1, and rankings placing it among the top 20% of private high schools in California. The community is also home to former NFL quarterback and Heisman Trophy winner Carson Palmer, a Santa Margarita Catholic High School alumnus who now serves as the school’s head football coach. Dove Canyon Plaza recently completed extensive capital improvements, including exterior repainting and parking lot restriping, and the center benefits from ample parking and a prominent monument sign along Dove Canyon Road.

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