Plaza Empresa Commercial Center
For Sale
Contact for pricing
29911 Aventura, Rancho Santa Margarita, CA 92688
NNN leased commercial center portion in Rancho Santa Margarita, CA.
Property Size35,953 SF
Price / SF$576.25
Days on Market107
Property Features for 29911 Aventura
General Information
Standard status
Active
Size
35,953 SF
Property subtype
Retail
Occupancy
84%
Net Operating Income
$1,240,372
Building Details
Tenancy
Multi
Listing Agency:
Faris Lee Investments
(949) 221-1810
Listed By:
Shaun Riley · License #CA 01165160
Source:
Crexi
Added: May 16
Changed: Aug 26
Last Checked: Aug 29 at 3:59PM
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 Faris Lee Investments
Investment Insights
Based on property information with market context.
A portion of the Plaza Empresa Commercial Center in Rancho Santa Margarita, California, is available for purchase. This offering includes NNN leases with income from daily needs, health, wellness, food, and service tenants. The property features 16 tenants with an average suite size of 2,225 square feet. The leases provide flexibility, with either no option to renew or a fair market value option to renew. The offering comprises two parcels, giving the investor the ability to potentially sell individual parcels. The center is located between Santa Margarita Parkway, with a traffic volume of 50,700 vehicles per day, and Antonio Parkway, with 27,700 vehicles per day. The surrounding trade area has a high average household income of $197,461 within a 3-mile radius. The property has a total size of 35,953 square feet. The investment offers potential with existing vacancies and annual rent increases in every lease.
Key Highlights
- NNN leases with diversified income stream.
- Significant upside potential with 16% vacancy and projected NOI growth.
- Flexibility to aggressively grow income stream due to lease terms.
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
$816,864
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
3.94%
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%
$16,337,280
$16.3M
Cap Rate 7%
$11,669,486
$11.7M
Cap Rate 9%
$9,076,267
$9.1M
Market Conditions
NOI Build-Up for 35,953 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
$1.21M $33.60/SF
− Vacancy
−$41.1K −$1.14/SF
EGI
$1.17M $32.46/SF
− OpEx
−$350.1K −$9.74/SF
NOI
$816.9K $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%
$16,337,280
Cap Rate 7%
$11,669,486
Cap Rate 9%
$9,076,267
Alternative Uses
Best Use
Retail
$11.67M
$10.21M – $13.61M
NOI $816,864 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.08M
$10.57M – $14.09M
NOI $845,313 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,539
Businesses Nearby
45k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Dining 27%
ARCO
Shops & Services
17,525 visits/mo
0.2 miles
KFC
Dining
8,543 visits/mo
0.1 miles
AMPM
Shops & Services
5,599 visits/mo
0.2 miles
Santa Margarita Toyota
Shops & Services
5,224 visits/mo
0.4 miles
Jersey Mike's Subs
Dining
3,807 visits/mo
0.2 miles
Demographics for 92688, CA
44,688
Population
16,388
Households
2.7
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
13.2 sq mi
ZIP Area
3,385
Density / Sq Mi
$142,015
Median Household Income
$72,020
Median Earnings
$2,508
Median Rent
$857,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- ARROYO CROSSROADS — 307 Santa Margarita Pkwy, Rancho Santa Margarita, CA 92688
- Santa Margarita Market Place — 30451-30465 Avenida de las Flores, Rancho Santa Margarita, CA 92688
Frequently Asked Questions
What type of property is this?
Shopping center - NNN leased commercial center portion in Rancho Santa Margarita, CA.
Where is this shopping center located?
The property is located at 29911 Aventura Rancho Santa Margarita, CA.
What is the asking price?
The asking price for this property is $20,718,000.
What are key features of this property?
This property features: NNN leases with diversified income stream.; Significant upside potential with 16% vacancy and projected NOI growth.; Flexibility to aggressively grow income stream due to lease terms.
