*Quintessential Retail Center – Westport Plaza & Square is a 97% leased, ±39,334 SF retail and service retail shopping center comprised of local-favorite, upscale boutiques and eateries such as Plumbs Café, Common Thread, Crumbl Cookies, Laser Away and others
*Destination Location – Situated along 17th Street, arguably the most coveted and dominant retail/commercial corridor in the west Newport Beach/east Costa Mesa trade area, featuring vibrant traffic counts, and drawing from infill, affluent demographics ($182,000 AHI)
*Outstanding Income Growth – Due to robust in-place rental increases (tenants pay 4% annual increases), the offering enjoys an impressive CAGR of +4.4%; over a 5- and 10-year hold periods, the NOI is projected to increases more than $400,000 (23%), and $923,000 (54%) over the hold periods, respectively] and a leveraged cash on cash return +13%
*Fully Depreciable Asset – Outstanding after-tax returns due to the long-term leasehold nature of the property—potential to depreciate up to 100% of the asset’s purchase price