562-590 W. 19th St Costa Mesa
Coastal Commercial is pleased to present the sale of the leasehold interest in this 100% occupied coastal orange county, multi-tenant retail center located in Costa Mesa, CA. The subject property is comprised of 10,500 square feet situated on 31,120 SF of land. This asset offers long-term, stable tenants that have operated at the center for 5 to 10+ years creating a rare opportunity to own a high yield investment with secure income.
The subject property is surrounded by several popular tenants such as In-N-Out Burger, Smart & Final, McDonalds, Trader Joe’s, Goodwill, Autozone, Bevmo, Subway, Bank of America, 24 Hour Fitness, UPS, Little Caesars, CVS and many more. Direct access to the 55 Freeway, 405 Freeway, 73 Toll Road and Pacific Coast Highway offer convenient access. The property includes over 240 feet of frontage along 19th Street having a traffic count of more than 33,000 vehicle-per-day. There are approximately 158,059 people who live within a 3-mile
radius of the subject property having an average household annual income equal to over $180,703.
Investment Sale Details
List Price
$8,242,000
Square Feet (GLA)
10,500
Current Cap Rate
6.3%
- AFFLUENT DEMOGRAPHICS - There are approximately 158,059 people who live within a 3-mile radius of the subject property having an average household annual income equal to over $180,703.
- HIGH TRAFFIC COUNT - Over 240 feet of frontage along 19th Street, having a traffic count of more than 33,000 vehicles-per-day
- CONVENIENT ACCESS TO FREEWAYS - Direct access to the 55 Freeway, 405 Freeway, 73 Toll Road and Pacific Coast Highway
- FIRST RIGHT OF REFUSAL TO PURCHASE THE LAND - Provides a secure long-term strategy to eventually own the preoptic fee simple
- LOCATED IN A DENSE RETAIL CORRIDOR - Subject property is surrounded by several popular tenants such as In-N-Out Burger, Smart & Final, McDonalds, Trader Joe’s, Goodwill, Autozone, Bevmo, Subway, Bank of America, 24 Hour Fitness, UPS, Little Caesars, CVS and many more.
- FULLY DEPRECIABLE ASSET - Leasehold ownership of the asset allows for the potential to depreciate 100% of the purchase price
- RARE OPPORTUNITY TO OWN A HIGH YIELD INVESTMENT WITH SECURE INCOME - Long-term, stable tenants that have operated at the center for 5 to 10+ years