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$12,500,000
Est. payment /mo
5,074 SqFt
UPDATED:
09/25/2024 08:40 PM
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 5,074 sqft
Price per Sqft $2,463
MLS Listing ID CROC24177898
HOA Y/N No
Year Built 2023
Lot Size 3,920 Sqft
Acres 0.09
Property Description
224 & 226 Avenida Del Mar are being sold together as 2 of the premier Commerical buildings in San Clemente along with 3 prime parking lots situated behind the buildings on Avenida Cabrillo. These 2 properties are being sold as one package and offer great potential. Here are the Property Highlights: 224 Avenida Del Mar: - Multi-unit property featuring 5 suites - Suite A: $6,000/month - Suite B: $3,500/month - Suites C, D, & E: One tenant occupies all three suites for a total of $13,000/month - All these leases are not triple net, providing flexibility for management 226 Avenida Del Mar: - Strong A Class Tenant: Rare Society Restaurant - Lease Rate: $25,000/month on a triple net lease - The stability of this tenant enhances the investment's appeal - This tenant is on a 10 year lease with 4% increases every 2 years Shared Parking Agreement: Both properties benefit from a verbal shared parking agreement, allowing for seamless access and future development potential on the 224 Avenida Del Mar property. Parking Lots: - Three additional lots located behind the properties, each with its own APN/Parcel number, ensuring ample parking for tenants and visitors alike. Investment Opportunity: The combined rental income from both properties presents a compelling cap rate
Location
State CA
County Orange
Area Listing
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 05811136
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Listed by Sam Smith • Beach Cities Real Estate
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