Investment Overview

We are pleased to present “Bliss” a commercial net leased investment located in Corona del Mar, California. The offering consists of 4,860 square feet of ground floor retail, with mezzanine space of 563 square feet, totaling 5,423 square feet. The real estate sits one building off the Southwest signalized corner of Pacific Coast Highway and Marguerite Ave., the center of town and best retail corner in the city. The building faces Pacific Coast Highway with 60 feet of frontage. Traffic counts exceed 63,000 cars per day through the intersection. The location is truly main and main, 2 blocks from the Pacific coastline and beaches. The building has been occupied by Bliss Home and Design since 2005 and they have recently signed a new 5-year NNN Lease with No Landlord Responsibilities. Additionally, there are 3% annual rent increases in the primary lease term, and annual CPI increases in the 5-year option. The building was fully renovated in 2004, with a complete Roof Replacement, new HVACs, plumbing, electrical panel, and was recently painted in 2020. Open City car parking consisting of 50 spaces is 143 feet from the front door of the real estate providing ample parking for the business. Bliss Home and Design is a boutique home and design firm catering to the homeowners in the surrounding area of Corona del Mar, Newport Beach and Newport Coast. As a full-service design firm their in-house design staff work with local clientele, curating unique fabrics, linens and furniture not usually seen in any of the larger furniture retailers. Their unique offering and design expertise has been thriving at this location for over 17 years. Corona Del Mar in Spanish is “Crown of the Sea” and this small quaint coastal town lives up to its name. Located on one the most spectacular coastlines in the world, Corona del Mar sits atop a bluff that provides unrivaled views of the Pacific coastline. Residents and visitors alike enjoy this quaint seaside village where one can walk to outdoor cafes, boutiques, shops, restaurants and the beach. One of the most desirable places to live in Orange County, “CDM” as it is commonly called, offers its residents a lifestyle not often found in all of the world. Corona Del Mar’s demographic profile is truly what retailers, banks and other service-oriented business are seeking. With average household incomes of $242,822 within a 1 mile ring of the property, the residents of this town and surrounding it have high disposable incomes. There are 180,981 people in a 5 mile radius and the population has grown 13.67% since 2000. Additionally, the population continues to increase with resident population projected to grow an additional 4% in the next five years.