Historical Retail Sale Listing - NNN Corp. Michaels Arts & Crafts | Below Mkt Rent

Retail For Sale

This Retail property is Off-Market. Search below to find active commercial real estate for sale or lease.

Browse More Listings in Retail For Sale, San Clemente, CA or California

NNN Corp. Michaels Arts & Crafts | Below Mkt Rent

937 Avenida Pico, San Clemente, CA 92673

N/A

24,356 SF | Retail

  • Print

Retail Property - Off Market

Price:
N/A
Building Size:
24,356 SF
Property Type:
Retail
Property Sub-type:
Anchor
Additional Sub-types:
Neighborhood Center
Power Center
Property Use Type:
Net Lease Investment with
3 years left on lease
Cap Rate:
5.50%
Tenancy:
Single
Year Built:
2002
Lot Size:
2.36 AC
Listing ID
18080538
Last Updated
363 days ago

Highlights

  • Corporate Guaranteed Lease/ Strong National Tenant/ $1.82 Billion in Assets
  • Strong Demographics/ $160,000 AVHHI in 1- Mile and over 100,000 People in 5- Miles
  • Triple Net Lease/ Tenant Responsible for Taxes, Insurance, CAM, HVAC and Interior of Building
  • Located Along Main Thoroughfare/ 47,000 Vehicles Per Day
  • Rare Coastal Orange County Offering/ Zero Nearby Box Vacancy
  • Below Market Rent/ Adjacent Junior Anchors are Paying 20-25% More In Rent

Description

The subject property is a single tenant, net leased, Michaels located within the coastal Orange County community of San Clemente, California. The subject property is situated within the largest (417,000 SF) shopping center in the city, Plaza Pacifica, anchored by Wal-Mart, Lowe's Home Improvement, and Albertson's. Michaels is in its first of three, 5-Year Options, with 10% rent increases in each option. The lease is guaranteed by Michael's, a private company with $1.82 Billion in Assets and $4.21 Billion in Revenue (2012). Michael's is paying substantially lower rent than nearby retailers in similar sized spaces.

The property is location along East Avenida Pico (47,000 vehicles per day) and approximately 1 mile from Interstate 5 (200,000 vehicles per day), within a strong demographic area, including over 100,000 consumers and 40,000 day time employees within a 5-Mile radius and an average household income of approximately $160,000 within a 1-mile radius of the subject property.

Map of 937 Avenida Pico, San Clemente, CA 92673 (Orange County)

Research for 937 Avenida Pico, San Clemente, CA 92673 (Orange County)

  • Demographics – Population, income & other demographics near 937 Avenida Pico
  • Research Price – Recent sales of similar properties
  • Property Record Data – Historical listings, current tax, mortgage, owners & tenant info for this building
Created 3/18/2013