Lee & Associates – Newport Beach is pleased to exclusively offer for sale or lease the two-tenant retail building located just off the 5 Freeway at 27672 Crown Valley Pkwy in Mission Viejo. One space is occupied by long-term tenant Mission Park Pet Hospital and the other space is vacant, having most recently been occupied by a credit union. The current in-place NOI is ±$125,552 (2.85% cap rate). Projected proforma NOI, assuming a $4.00psf NNN lease for the vacant Suite A space, is ±$289,786 (6.59% cap rate). This could potentially be increased by converting Mission Park Pet Hospital's modified gross lease to NNN when their lease expires in January 2028.
Mission Park Pet Hospital’s modified gross lease expires in January 2028 with no option to renew. Their premises is ±3,040 sq ft inclusive of a ±1,000 sq ft 2nd floor office space. Their current monthly rent is $13,357 ($4.39psf modified gross).
The vacant space is ±3,060 sq ft and is near turn-key for an office/financial services type user. Asking rent is $4.25psf NNN. This vacancy is ±50.16% of the building making the property a perfect SBA financing target for an owner/user!