3553 Camino Mira Costa San Clemente, CA 92672-3512

Property Details for 3553 Camino Mira Costa

Year built

1979

Lot size

0.54 lot acres

Property size

8,261 SF

Property type

Commercial real estate

APN

691-096-02

APU

69109602

Description

This exceptional two-story office building, totaling 8,400 square feet, presents a compelling investment opportunity in San Clemente, California. Situated on a 0.54-acre lot at 3553 Camino Mira Costa (APN 691-096-02), this Class C property boasts a prime location in a vibrant commercial area, close to major highways (including the 5 Freeway and Pacific Coast Highway), and numerous retail establishments such as Home Goods, Nordstrom Rack, and Sprouts. Built in 1979, the building currently has seven units with 68% occupancy, generating a Net Operating Income (NOI) of $93,099 and a 3.51% cap rate. The asking price is $2,650,000, representing a competitive price per square foot. The property's flexible leasing structure, with many tenants having less than a year remaining on their leases, offers significant upside potential for rental increases. Furthermore, the property is zoned Commercial-General, allowing for a variety of uses, and is suitable for owner-users seeking to benefit from a 10% down payment SBA financing program. This fee-simple ownership opportunity combines a strategic location with strong potential for future growth in a thriving coastal market. The property's high visibility and ample parking further enhance its appeal.