24012 Avenida De La CarlotaLaguna Hills, CA 92653

Village Plaza, a 13,362 square-foot shopping center in Laguna Hills, CA, presents a compelling investment opportunity. This two-story, 100% occupied property boasts a diverse tenant mix of internet-resistant businesses, including medical, restaurant, health and wellness, and service-oriented establishments. Built in 1993 and situated on a 41,891 square-foot lot (APN 62105202), the center offers a strong net operating income (NOI) of $706,794, with a pro-forma NOI of $795,218, resulting in a 6.00% cap rate and a pro-forma cap rate of 6.77%. The asking price is $11,750,000, translating to a price per square foot of $879.36. The property benefits from a prime location with excellent visibility and access from the San Diego Freeway (364,733 vehicles per day), Avenida de la Carlota (16,000 vehicles per day), and El Toro Road (30,978 vehicles per day). It's situated near a significant concentration of luxury residential units, retail, restaurants, entertainment, hotels, and office space, serving a dense and affluent customer base with a 5-mile average household income exceeding $138,000 annually. The weighted average lease term is 2.4 years, offering potential for near-term income growth through below-market rents. The property's location adjacent to a billion-dollar mixed-use redevelopment project further enhances its long-term prospects. Full occupancy was achieved on September 1, 2021. This is a net lease property with no credit rating provided for tenants.