NNN Retail Strip
41 Auto Center Drive Lake Forest, CA 92610
41 Auto Center Drive, Lake Forest, CA, 92610
Contact for pricing
For Sale
Contact for pricing
100% occupied retail strip center on NNN leases with a daily-needs tenant mix in Foothill Ranch.
Property Size32,592 SF
Price / SF$755.98
Days on Market55
Property Features for 41 Auto Center Drive
General Information
- Standard status
- Active
- Size
- 32,592 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2006
Listing agency
CBRE - Orange County
Listed by
Erin Smith · License #CA 02214300
Source
Crexi
Added: May 28 Updated: Jul 21 at 12:16AM Checked: Jul 21 at 4:21AM
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 CBRE - Orange County
Investment Insights
Based on property information with market context.
The Village is a 32,592 SF, 100% occupied retail strip center with a daily-needs tenant mix operating on NNN leases. The property is positioned to support stable in-place income through its current national and regional tenants.
The Village is located near the CA-241 Toll Road within the retail and residential focused Foothill Ranch of Lake Forest. It sits directly across the street from Foothill Ranch Towne Centre, anchored by Walmart, Target, Hobby Lobby, PetSmart, and a future Costco.
This is a single strip center investment opportunity offering an established tenant roster under NNN lease structure.
The Village is located near the CA-241 Toll Road within the retail and residential focused Foothill Ranch of Lake Forest. It sits directly across the street from Foothill Ranch Towne Centre, anchored by Walmart, Target, Hobby Lobby, PetSmart, and a future Costco.
This is a single strip center investment opportunity offering an established tenant roster under NNN lease structure.
Key Highlights
- 32,592 SF 100% occupied retail strip center in Foothill Ranch (Year Built: 2006).
- All tenants on NNN leases, providing a daily‑needs retail tenant mix.
- Proven daily‑needs lineup with national and regional tenants on long‑term in‑place leases.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.10M | $33.60 |
| − Vacancy | −$37.2k | −$1.14 |
| EGI | $1.06M | $32.46 |
| − OpEx | −$317.4k | −$9.74 |
| NOI | $740.5k | $22.72 |
32,592 SF · lease $33.60/SF/yr · vacancy 3.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$10.58M
$9.26M – $12.34M
NOI $740,501 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.95M
$9.58M – $12.77M
NOI $766,290 @ 7.0% cap · market cap 3.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Strip malls
Similar For Sale Nearby
FAQs
What type of property is this?
Strip mall - 100% occupied retail strip center on NNN leases with a daily-needs tenant mix in Foothill Ranch.
Where is this strip mall located?
The property is located at 41 Auto Center Drive Lake Forest, CA.
What is the asking price?
The asking price for this property is $24,639,000.
What are key features of this property?
This property features: 32,592 SF 100% occupied retail strip center in Foothill Ranch (Year Built: 2006).; All tenants on NNN leases, providing a daily‑needs retail tenant mix.; Proven daily‑needs lineup with national and regional tenants on long‑term in‑place leases.
