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
+1 858 558 5677 [email protected]
CA License 02016970
CONTACTS
5
NICO NAPOLITANO Associate
+1 949 955 7642 [email protected]
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
San Juan Capistrano, CA 926751
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
Final Composite Drawing
122CA
32122 Camino Capistrano32122 Camino Capistrano
San Juan Capistrano, CA 926752
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
Final Composite Drawing
122CA
32122 Camino Capistrano32122 Camino Capistrano
San Juan Capistrano, CA 926751
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
Final Composite Drawing
122CA
32122 Camino Capistrano32122 Camino Capistrano
San Juan Capistrano, CA 926752
7/31/14Stacking Plan | First Floor
First Floor
Stacking Plan | Second Floor
Second Floor
CAMINO PLAZA | 17
LOCATION
CAMINO PLAZA | 19
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
CAMINO PLAZA | 25
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
Ortega Business Center Cottage 45
27442 Calle Arroyo, San Juan Capistrano
Owner/User
4,172
$1,595,000
$382.31
N/A
7/26/2018
Ortega Business Center Cottage 31
27432 Calle Arroyo, San Juan Capistrano
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
+1 760 310 0882 [email protected]
CA License 01241186
KEVIN CUFF Associate
+1 858 558 5677 [email protected]
CA License 02016970
NICO NAPOLITANO Associate
+1 949 955 7642 [email protected]
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