Retail Property in Mission
For Sale
Contact for pricing
Pending
28321 Marguerite Pkwy, Mission Viejo, CA 92691
Retail property available for sale in Mission Viejo, California.
Property Size46,244 SF
Days on Market185
Property Features for 28321 Marguerite Pkwy
General Information
Standard status
Pending
Size
46,244 SF
Property subtype
Retail
Occupancy
98%
Net Operating Income
$1,781,204
Building Details
Year Built
1980
Year Renovated
2006
Buildings
2
Stories
2
Listing Agency:
Hanley Investment Group
(949) 585-7674
Listed By:
Kevin Fryman · License #CA 01321833
Source:
Crexi
Added: Feb 18
Changed: Aug 15
Last Checked: Aug 21 at 6:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hanley Investment Group
Investment Insights
Based on property information with market context.
This retail property, located in Mission Viejo, California, offers 46,244 square feet of space. The property is available for sale.
Key Highlights
- Year Built: 1980
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,050,678
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$21,013,560
$21.0M
Cap Rate 7%
$15,009,686
$15.0M
Cap Rate 9%
$11,674,200
$11.7M
Market Conditions
NOI Build-Up for 46,244 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.55M $33.60/SF
− Vacancy
−$52.8K −$1.14/SF
EGI
$1.50M $32.46/SF
− OpEx
−$450.3K −$9.74/SF
NOI
$1.05M $22.72/SF
Area
Orange County, CA
Vacancy
3.40%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$21,013,560
Cap Rate 7%
$15,009,686
Cap Rate 9%
$11,674,200
Alternative Uses
Best Use
Retail
$15.01M
$13.13M – $17.51M
NOI $1,050,678 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.53M
$13.59M – $18.12M
NOI $1,087,270 @ 7.0% cap · market cap 3.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,730
Businesses Nearby
407k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 42%
Superstores 27%
Dining 22%
Shops & Services 8%
Costco Wholesale
Superstores
109,394 visits/mo
0.5 miles
Nordstrom
Apparel
79,857 visits/mo
0.3 miles
DICK'S Sporting Goods
Apparel
62,566 visits/mo
0.4 miles
Starbucks
Dining
21,559 visits/mo
0.1 miles
Burlington
Apparel
21,498 visits/mo
0.2 miles
Demographics for 92691, CA
47,918
Population
16,673
Households
2.9
Avg Household Size
44
Median Age
47%
College-Educated
93%
High-School Grad
8.8 sq mi
ZIP Area
5,445
Density / Sq Mi
$135,779
Median Household Income
$64,902
Median Earnings
$2,517
Median Rent
$916,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Retail property available for sale in Mission Viejo, California.
Where is this retail property located?
The property is located at 28321 Marguerite Pkwy Mission Viejo, CA.
What is the asking price?
The asking price for this property is $29,820,000.
What are key features of this property?
This property features: Year Built: 1980
