Casablanca

6800 West Pacific Coast Highway, Newport Beach, CA 92663

$2,727,000

Cap Rate 4.95%

Views: 122 DOM: 154 Updated: 10.06.24 Posted: 06.13.24 Status: Active

Summary

Price $2,727,000	Built/Renov 1948/2007	Tenant Casablanca
Cap Rate 4.95%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 2,134	Lease Start 04-05-2023	#Units 1
Price/SF $1,277.88	Expiration 04-04-2033	Tenant Type Casual Dining
NOI $135,000	R. Term 8.4	Ownership Fee Simple
Rent/SF $63.26	Increases 10.0%/5/yrs	Pop 5Mi 255,780
Lot/AC 0.09	Options 1/5yrs/3%	AHHI 5Mi $163,855

Lease Highlights

Casablanca has 8+ years remaining on the current lease term with 1 (5-year) option to extend
The lease features a 10% rental increase at the start of the first option, 3% annually in remaining options
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Casablanca is strategically located at the signalized, hard corner intersection of Pacific Coast Highway and Orange Street, with access to a robust combined daily traffic count of 50,800 vehicles. The property is conveniently situated just 130 yards from the sands of world-famous Newport Beach, which attracts over 6.9 million visitors annually. Additionally, it is within close proximity to...

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Key Features

Signalized intersection
Hard corner intersection
High traffic 50M+ VPD
Dense retail corridor
Near major nationals
Strategically located
Top 100 MSA
Strong demographics
Absolute NNN
Corporate Guarantee

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Links

Casablanca Wikipedia Newport Beach, California Zip Code 92663 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Casablanca
Guarantor:Corporate
Company:Casablanca the Restaurant
# Units:1
Stock:Private

About Tenant

Casablanca the Restaurant (Casablanca) is a superb North African (Algerian-Moroccan) and West Mediterranean Fusion refined with Mediterranean (Spain, France, Italy) and Magreb Cuisine. There are...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	5,736	103,132	252,394
2024 Total Population :	5,771	103,405	253,444
2024 Employed Civilian Pop :	3,709	57,884	139,609
2024 Total Businesses :	321	7,577	18,345
2024 Average Household Income :	$ 188,246	$ 168,408	$ 175,125
2024 Total Consumer Spending :	$ 399 M	$ 5973 M	$ 15447 M
2024 Median Age :	40	40	42
2024 Total Households :	2,498	41,437	103,263
2024 Pop Age 25+: Bachelor's Degree :	1,632	26,986	66,489
2024 Average Home Value :	$ 1,347,829	$ 1,292,536	$ 1,303,726

*ESRI data is presented for informational purposes only

Listing Broker

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
21597 Views
57 Sold

Eric Carlton

Colliers NNN Group

Contact

180 Listings
23189 Views
61 Sold

Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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