Casablanca

6800 West Pacific Coast Highway, Newport Beach, CA 92663

$2,842,000

Cap Rate 4.75%

Views: 73 DOM: 86 Updated: 07.15.24 Posted: 06.13.24 Status: Active

Summary

Price $2,842,000	Built/Renov 1948/2007	Tenant Casablanca
Cap Rate 4.75%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 2,134	Lease Start 04-05-2023	#Units 1
Price/SF $1,331.77	Expiration 04-04-2033	Tenant Type Casual Dining
NOI $135,000	R. Term 8.7	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 escalation at the start of the first option, 3% annually in remaining options
Absolute NNN | 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...

...

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

...

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...

...

Listing Broker

Jereme Snyder

Colliers NNN Group

Contact

153 Listings
16664 Views
53 Sold

Eric Carlton

Colliers NNN Group

Contact

165 Listings
17942 Views
56 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

...

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

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT