$ 12,500,000
226 Avenida Del Mar San Clemente, CA 92672
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$ 12,500,000
Est. payment /mo
Active
226 Avenida Del Mar San Clemente, CA 92672
3,920 Sqft Lot
UPDATED:
09/30/2024 05:48 PM
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC24177898
HOA Y/N No
Year Built 2023
Lot Size 3,920 Sqft
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, making this an attractive investment for buyers seeking to capitalize on the thriving San Clemente market.
Join the Vibrant San Clemente Community:
Take advantage of this rare opportunity to own prime commercial real estate in one of California's most desirable coastal towns.
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, making this an attractive investment for buyers seeking to capitalize on the thriving San Clemente market.
Join the Vibrant San Clemente Community:
Take advantage of this rare opportunity to own prime commercial real estate in one of California's most desirable coastal towns.
Location
State CA
County Orange
Area Sc - San Clemente Central
Interior
Fireplace No
Laundry See Remarks
Exterior
Present Use Commercial
Building
Lot Description Walkstreet
Story 2
Water Public
Others
Tax ID 05811136
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Sam Smith • Beach Cities Real Estate • 888-990-7111
Lisa Bethel
Advisor | Accredited Buyer's Representative | Seniors Real Estate Specialist® | License ID: 02046953