cushwakeprivateclient - LoopNet · 2019. 10. 29. · PETER CURRY Managing Director +1 760 310 0882 [email protected] CA License 01241186 KEVIN CUFF Associate +1 858 558 5677

cushwakeprivateclient.com

Private Capital Investment Advisory

BROOKS CAMPBELL Senior Director +1 760 431 4215

[email protected] License 01380901

PETER CURRY Managing Director

+1 760 310 0882 [email protected]

CA License 01241186

KEVIN CUFF Associate


CA License 02016970

CONTACTS

5

NICO NAPOLITANO Associate


CA License 01962860

CAMINO PLAZA | 3

Executive Summary

Property Overview

Property Highlights

Location

Comparables

Financials

CONTENTS7

11

17

23

33

37

CAMINO PLAZA | 5

PROPERTYOVERVIEW

CAMINO PLAZA | 7

PROPERTYOVERVIEW 32122 Camino Capistrano

San Juan Capistrano, CA 92675

1974

General Commercial

34 Spaces

668-451-24

668-451-25

$4,400,000 ($331/SF)

Parcel 1 | Lot Size 9,280 SF

Parcel 2 | Lot Size 7,860 SF

17,140 SF (0.39 Acres)

Office

Owner-User / Multiple

13,294

Two

Wood Frame & Stucco

Property Address

Year Built

Zoning

Parking

APN#

Asking Price

Lot Size

Property Type

Tenancy Type

Property Square Feet

Stories

Construction Type

As exclusive advisor to the seller, Cushman & Wakefield is pleased to present an owner-user or investor a unique opportunity to acquire a beautifully designed 13,294 square foot, Class “A” multi-tenant office building, ideally located in the heart of San Juan Capistrano, California. The property is strategically located in the path of new development on Camino Capistrano, the main thoroughfare into the emerging downtown of San Juan Capistrano. The Property is currently 27.0% leased and provides an owner-user or investor the opportunity to occupy a portion of the building on Day One and eventually hold up to 100% occupancy within the first year. An investor will be able to capture additional income by repositioning the existing vacant suites, exercising an effective lease-up strategy and/or bringing the existing leases up to market value upon expiration. This extremely rare opportunity combined with the Property’s ideal location in San Juan Capistrano – a submarket with a rapidly increasing population, expanding local economy and massive residential and commercial growth – will continue to benefit the office market for years to come and provide the investor with a fantastic long-term investment.

Executive Summary

CAMINO PLAZA | 9

CAPISTRANOBEACH

CAPISTRANOBEACH

SAN CLEMENTESAN CLEMENTE

DOHENYSTATE BEACH

DOHENYSTATE BEACHDANA POINTDANA POINT

DANA POINTHARBOR

DANA POINTHARBOR

SADDLEBACKCOLLEGE

SADDLEBACKCOLLEGE

GALIVANGALIVAN

ARROYO TRABUCOGOLF CLUB

ARROYO TRABUCOGOLF CLUB

MARBELLACOUNTRY CLUB

MARBELLACOUNTRY CLUB

SAN JUAN HILLSGOLF CLUB

SAN JUAN HILLSGOLF CLUB

EL NIGUELCOUNTRY CLUB

EL NIGUELCOUNTRY CLUB

MONARCH BEACHGOLF LINKS

MONARCH BEACHGOLF LINKS

BEN BROWN’SGOLF COURSEBEN BROWN’SGOLF COURSE

SHORECLIFFSGOLF COURSESHORECLIFFSGOLF COURSE

MONARCHBEACH

MONARCHBEACH

DANA PONTSTATE MARINE

CONSERVATIONAREA

DANA PONTSTATE MARINE

CONSERVATIONAREA

1000 STEPS BEACH1000 STEPS BEACH

RITZ-CARLTONRITZ-CARLTON

ST. REGIS MONARCH BEACH CLUBST. REGIS MONARCH BEACH CLUB

ALISO BEACHALISO BEACH

TREASURE ISLAND PARKTREASURE ISLAND PARK

LAGUNA NIGUELLAGUNA NIGUEL

ALISO VIEJOALISO VIEJO

SAN JUANCAPISTRANO

SAN JUANCAPISTRANO

MISSION BASILICAMISSION BASILICATRAIN STOPTRAIN STOP

RANCHOMISSION VIEJO

RANCHOMISSION VIEJO

5

5

5

73

133

74

1

Plant Depot

Public StorageAtria San Juan

The Brewhouse

Jade China

24 Hour FitnessRalphs

Descanso Park

Wells Fargo

Bank of America

El Coyotito #1 USPS

FedEx

Ruby’sEl Adobe deCapistrano

ZoomarsRamos House Cafe

Trevor’s at the Tracks

Ciao Pasta Tratorria

Los Golondrinas

Best WesternBall Park Pizza

Bravos CaliforniaFresh

Wow Poki-PokeRite Aid

Trader Joe’s

MolliesFamous Cafe

Vons

Starbucks

Pho Lotus

ShellCedar Creek Inn

Inn at the Mission

Regency Theatres

Hennessey’s Tavern

City Hall ofSan JuanCapistrano

San Juan CapistranoTrain Station

OeeshiJapanese Grill

MarieCallender’s

San Juan HillsGolf Club

OrtegaEquestrianCenter

BrookdaleSan JuanCapistrano

CAMINO PLAZA | 11

PROPERTYHIGHLIGHTS

CAMINO PLAZA | 13

Creative environmentOwner user potential Value-Add potential

Investor has ability to reposition property and push to market

rents.

Zoning flexibility

General Commercial zoning allows the

potential for multiple different uses (ie

medical, retail, office).

Revitalized urban area

Walking distance to numerous amenities,

one half mile from the Amtrak/Metrolink

station.

Vaulted ceilings, balconies, and

outdoor patio areas create creative

working environment.

Staggered lease rollover allows for

different owner-user opportunities

PROPERTYHIGHLIGHTS

Irreplaceable property

2 story, free standing building in the heart of San Juan Capistrano’s

Commercial District. Easy access to

freeway.

CAMINO PLAZA | 15

Parcel Map (APNs 668-451-24-00; -25-00)

SAN JUAN CREEK ROAD

DEL OBISPO STREET

CA

MIN

O C

AP

ISTR

AN

O

CAMINO CAPISTRANO

Date:

Floor:

STEVENSONBldg ID:

C

CAP

S

EAC O UN TI N

G

TRECIFIED

E

E

Est. 1986

TE

S

V NSON

MS IN

CS

Y ST

Final Composite Drawing

122CA

32122 Camino Capistrano32122 Camino Capistrano


7/31/14

Vacant

Suite 100

2,521 SF

TG Insurance

Suite 110

3,579 SF

5/31/20

Date:

Floor:

STEVENSONBldg ID:

C

CAP

S

EAC O UN TI N

G

TRECIFIED

E

E

Est. 1986

TE

S

V NSON

MS IN

CS

Y ST


122CA



7/31/14

uranceSuite 1103,579 SF5/31/14

Vacant

Suite 210

4,677 SF

Vacant

Suite 200

2,476 SF

Date:

Floor:

STEVENSONBldg ID:

C

CAP

S

EAC O UN TI N

G

TRECIFIED

E

E

Est. 1986

TE

S

V NSON

MS IN

CS

Y ST


122CA



7/31/14

Date:

Floor:

STEVENSONBldg ID:

C

CAP

S

EAC O UN TI N

G

TRECIFIED

E

E

Est. 1986

TE

S

V NSON

MS IN

CS

Y ST


122CA



7/31/14Stacking Plan | First Floor

First Floor

Stacking Plan | Second Floor

Second Floor

CAMINO PLAZA | 17

LOCATION

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LOCATION

SAN JUANCAPISTRANOSpanning approximately 14 miles in Orange County, the city of San Juan Capistrano is a small town that rests near the stunning California coast. San Juan Capistrano is bordered by Laguna Niguel to the north, Mission Viejo to the east and San Clemente to the south. The city has an estimated resident population of 35,000 who are attracted to the authentic community for its rich Spanish culture, beautiful archeologic monuments, ideal location and numerous attractions and recreational options.

CAMINO PLAZA | 21

San Juan Capistrano Mission Doheny Beach Swallows Day Festival Zoomars Petting Zoo Dana Point San Juan Hills Golf Course Ritz-Carlton St. Regis

Since 1776, San Juan Capistrano has grown to become a historic charm characterized by Mexican ranchlands, vast farms and adobe buildings that bring you back in time. San Juan Capistrano is home to the iconic Mission San Juan Capistrano, a place of cultural and religious significance that has been home to many people over its 240 years of history. The Mission’s old adobe walls seclude 10 acres of lush gardens and magnificent fountains for visitors to explore. The Inn at the Mission, a breathtaking boutique hotel that balances centuries-old tradition with a modern feel, sits in the heart of downtown along with countless shopping, dining and recreational destinations. Art shows, concerts and festivals provide memorable entertainment, and family-owned restaurants offer old world hospitality and treasured recipes that diners love. Just outside of San Juan Capistrano’s city limits sits Capistrano Beach Park, one of the most beautiful and enjoyable locations in Orange County. The sandy venue serves as a prime spot for relaxing, strolling, playing beach volleyball, kayaking and jet skiing. Many more recreational experiences can be found just a couple miles up the road, including whale watching, fishing and surfing.

Highlights

Located approximately 22 miles south of downtown Orange County, San Juan Capistrano is served by the Interstate 5, which provides North/South access throughout the region.

Interstate 5 also provides connections to the Pacific Coast Highway – the longest and most scenic state route in California – and State Routes 73 and 74. State Route 73 creates a direct route from Interstate 5 in San Juan Capistrano to Interstate 405 in Costa Mesa. State Route 74 passes through several parks and national forests between the Pacific coast and Coachella Valley.

San Juan Capistrano’s transit station offers service by Metrolink’s two Orange County lines and Amtrak’s Pacific Surfliner. These services provide an ideal transportation alternative for visitors and commuters and convenient access to Orange County, Los Angeles and San Diego.

In addition to the gorgeous residences located within San Juan Capistrano, several other alluring communities can be found nearby, including Dana Point, Ladera Ranch and Rancho Mission Viejo.

Location & access

CAMINO PLAZA | 23

COMPARABLES

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COMPARABLES

4

1 2 3

5

Ortega Business Center Cottage 35

27352 Calle Arroyo, San Juan Capistrano

Owner/User

4,340

$1,600,000

$368.66

N/A

8/21/2018



Owner/User

4,172

$1,595,000

$382.31

N/A

7/26/2018



Owner/User

7,293

$2,450,000

$335.94

N/A

6/7/2018

Gates Professional Building

31601 Avenida Los Cerritos Rd. Sn Juan Capistrano, CA 92675

Owner/User

14,410

$5,900,000

$409.44

N/A

1/25/2018

32210 Camino Capistrano, San Juan Capistrano

Owner/User

3,450

$1,220,000

$353.62

N/A

10/5/2018

Address

Sale Type

Size (SF)

Sale Price

Price/SF

Cap Rate

Sale Date

Address

Sale Type

Size (SF)

Sale Price

Price/SF

Cap Rate

Sale Date

1 32

54

CAMINO PLAZA | 27

FINANCIALS

CAMINO PLAZA | 29

Monthly Annual

Income TG Insurance $6,979.05 $83,748.60

Owner/User Estimated Property Taxes (1) ($4,106.67) ($49,280.00)

Owner/User Insurance (2018 actuals) ($864.08) ($10,369.00)

Owner/User CAM (2018 actuals) ($4,501.50) ($54,018.00)

Owner/User Estimated Debt Service (2) ($18,579.83) ($222,958.00)

Total Occupancy Expense ($21,073.03) ($252,876.40)

Occupancy Expense Per SF $1.59 $19.02

Tenant Suite RSF % Lease Start Lease Exp. $/SF Monthly Annual $/ft Monthly Annual

Vacant 100 2,521 19.0% $- $- $- $2.50 $6,303 $75,630

Storage 103 41 0.3% $- $- $- $- $- $-

TG Insurance 110 3,579 26.9% 6/1/16 5/31/20 $1.95 $6,979.05 $83,749 $2.50 $8,948 $107,370

Vacant 200 2,476 18.6% $- $- $- $2.50 $6,190 $74,280

Vacant 250 4,677 35.2% $- $- $- $2.50 $11,693 $140,310

Total SF 13,294 100.0% Total Income $1.95 $6,979 $83,749 $2.50 $21,440 $257,280

Occupied SF 3,579 26.9%

Vacant SF 9,674 72.8%

Item Annual Monthly PSF Monthly

Non Reimbursables $3,331 $277.60 $0.02

Non Reimbursables Vacancies $1,315 $109.60 $0.01

Trash $2,722 $226.84 $0.02

Security $6,495 $541.28 $0.04

Plumbing $2,096 $174.67 $0.01

Pest Control $657 $54.74 $0.00

Landscaping $7,218 $601.50 $0.05

Janitorial $8,796 $733.00 $0.06

Supplies $2,515 $209.56 $0.02

HVAC $2,695 $224.58 $0.02

Maintenance & Repairs $5,454 $454.54 $0.03

Water $3,721 $310.07 $0.02

Insurance $10,369 $864.08 $0.06

Phone/Internet $2,145 $178.76 $0.01

Electrical $2,477 $206.43 $0.02

Fire/Life Safety $1,210 $100.86 $0.01

Roof Repairs & Maintenance $1,170 $97.50 $0.01

TOTAL $64,387 $5,366 $0.40

(1) Estimated Property Taxes assumes $331/SF purchase price and 1.12% millage rate

(2) Debt service assumes 4.0% interest rate, 25-year amortization and 80% loan-to-value

Net Occupancy / Expense Analysis Rent Roll

Operating Expenses

Price Sensitivity Analysis

Total Sales Price Sales Price PSF Monthly Occupancy Cost PSF

$4,200,000 $316 $1.51

$4,300,000 $323 $1.55

$4,400,000 $331 $1.59

$4,500,000 $338 $1.62

$4,600,000 $346 $1.66

CAMINO PLAZA | 31

Private Capital Investment Advisory

BROOKS CAMPBELL Senior Director +1 760 431 4215

[email protected] License 01380901

PETER CURRY Managing Director


CA License 01241186

KEVIN CUFF Associate


CA License 02016970

NICO NAPOLITANO Associate


CA License 01962860

©2018 Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) REFERENCED HEREIN OR AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). ANY PROJECTIONS, OPINIONS OR ESTIMATES ARE SUBJECT TO UNCERTAINTY AND DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE.

Contact

1000 Aviara Parkway., Suite 100 Carlsbad, CA 92011

cushwakeprivateclient.com

Documents

cushwakeprivateclient - LoopNet · 2019. 10. 29. · PETER CURRY Managing Director +1 760 310 0882 [email protected] CA License 01241186 KEVIN CUFF Associate +1 858 558 5677