Historical Retail Sale Listing - Plaza Del Lago

Retail For Sale

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Plaza Del Lago

27752 Vista Del Lago, Mission Viejo, CA 92692

N/A

97,699 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
97,699 SF
Property Type:
Retail
Property Sub-type:
Neighborhood Center
Additional Sub-types:
Office-Business Park
Community Center
Specialty Center
Property Use Type:
Investment
Cap Rate:
6.34%
Occupancy:
99%
Tenancy:
Single
Year Built:
1984
Lot Size:
10.60 AC
Listing ID
14255813
Last Updated
over 1 year ago

Highlights

  • IRREPLACEABLE LOCATION
  • EXCELLENT DEMOGRAPHICS
  • DYNAMIC TENANT MIX
  • RECENT REMODELING
  • ATTRACTIVE RETURN ON INVESTMENT
  • PRIDE OF OWNERSHIP

Description

Grubb & Ellis is pleased to exclusively offer for sale, Plaza Del Lago, a 97,699 square foot mixed-use lifestyle center located within the affluent and densely populated South Orange County city of Mission Viejo, California. This unique retail property was built in 1984 on a bluff overlooking Lake Mission Viejo and has recently gone through a complete renovation. Plaza Del Lago is currently 99% occupied by a dynamic mix of 32 retail and office tenants including Wells Fargo, Washington Mutual, Tortilla Flats Restaurant, Fitness 19, Century 21, State Farm, Peppino's Restaurant, Keystone Mortgage, New Century Title and Coldwell Banker. The Property offers rare and unique waterfront views with outside patio seating areas, and provides one of a kind leasing opportunities for restaurant, retail and office tenants.

BUYER MUST ASSUME THE EXISTING LOAN WITH A BALANCE OF $22 MILLION AT A 5.67% INTEREST RATE. THIS ACQUISITION WILL REQUIRE APPROXIMATELY $21 MILLION IN EQUITY.

Plaza Del Lago provides an investor an exceptional opportunity to own a quality mixed-use asset, with a very unique lakefront setting, located within the affluent and densely populated south Orange County residential community of Mission Viejo. The Property is located at the southwest corner of the lighted intersection of Marguerite Parkway and Vista Del Lago. Offers for Plaza Del Lago are due July 14th at 5:00 PM/PST. Seller reserves the right to accept an offer at any time.

BROKERS AND PRINCIPALS - PLEASE EXECUTE AND FAX TO US THE APPLICABLE CONFIDENTIALITY AGREEMENT IN ORDER TO RECEIVE THE DETAILED OFFERING MEMORANDUM.

Map of 27752 Vista Del Lago, Mission Viejo, CA 92692 (Orange County)

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Created 6/30/2005