See all 44 photos
44 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$12,500,000
Est. payment /mo
3,920 Sqft Lot
UPDATED:
12/05/2024 05:12 AM
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
Lease Land No
Read Less Info
Listed by Sam Smith • Beach Cities Real Estate • 888-990-7111
GET MORE INFORMATION