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Dove Canyon Plaza | NNN Leases 31911-31991 Dove Canyon Dr 65,677 SF 92% Leased Retail Building Rancho Santa Margarita, CA 92688 $28,986,000 ($441.34/SF) 6.73% Cap Rate
Investment Highlights
- Diverse Tenant Lineup | 74% of GLA Leased Over the Past 3 Years Anchored by Hoag, Goddard School, Mariners Church | NNN Leases
- Direct Residential Consumer Base From Which to Draw |Coto de Caza (4,000 Homes) | Dove Canyon (1,200 Homes)
- Strong Demographics in 5-Mile Trade Area | Affluent Incomes
- Generational Retail Opportunity | Irreplaceable Location | High Barriers to Entry | South Orange County
- Signalized, Hard Corner Intersection | Highway 241 (43,000 VPD) | Santa Margarita High School (Top 20% of CA Private Schools)
Executive Summary
SRS Capital Markets is pleased to present the exclusive opportunity to acquire Dove Canyon Plaza, a 65,677 SF anchored retail center situated at the gateway to two of South Orange County’s most coveted gated communities — Dove Canyon and Coto de Caza. This fee simple offering represents a rare chance to own institutionally positioned retail real estate in a submarket defined by extreme wealth concentration, physical land constraints, and virtually zero new commercial supply. In addition, Dove Canyon Plaza has recently undergone comprehensive capital improvements including full exterior repainting and parking lot restriping, and the property presents in institutional condition. The weighted average lease term of 7.0 years, combined with the fact that nearly three-quarters of occupied GLA has been committed to within the past three years, reflects a tenant base actively choosing this location, not one holding over from prior cycles.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
65,677 SF
Building Class
C
Year Built/Renovated
1991/2026
Price
$28,986,000
Price Per SF
$441.34
Cap Rate
6.73%
NOI
$1,951,121
Percent Leased
92%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.17
Lot Size
8.99 AC
Zoning
CN - Commercial Neighborhood
Parking
293 Spaces (4.46 Spaces per 1,000 SF Leased)
Amenities
- Dedicated Turn Lane
- Restaurant
- Signage
- Signalized Intersection
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 804-542-26 | Improvements Assessment | $6,441,983 |
| Land Assessment | $11,155,190 | Total Assessment | $17,597,173 |
Property Taxes
Parcel Number
804-542-26
Land Assessment
$11,155,190
Improvements Assessment
$6,441,983
Total Assessment
$17,597,173
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