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Miscellaneous

Grand Legacy at the Park Anaheim (Leased Fee)

1650 S Harbor Blvd, Anaheim, CA 92801

Listing Price: $25,000,000

Cap Rate
3.70%
Tenant Name
Grand Legacy at the Park Anaheim, The Fifth
Years Remaining On Lease
18.6
Guarantor
Personal Guarantee
Rentable SF
99,572
Lease Type
NNN Ground Lease
Rent Per Square Feet
$9.38

Investment Overview

Marcus & Millichap is proud to present a ground leased fee offering consisting of a 1.09 acre parcel on the NEC of Harbor Boulevard and Disney Way and steps from Disneyland & California Adventure. The tenant operates The Grand Legacy at the Park Anaheim, a mixed two-story and four-story hotel comprised of 230 well-appointed guest rooms and suites with several desirable amenities including a heated outdoor pool & spa, guest laundry facilities and some subleased retail space including Tony Roma’s Restaurant and The Fifth, Anaheim’s Only Rooftop Restaurant & Bar. This offering includes the land associated with 115 of the hotel guest rooms, The Fifth restaurant, and a couple of the retail spaces. The remaining Grand Legacy hotel rooms and the Tony Roma’s restaurant are located on the adjacent parcel and are not included in this offering. The ground lease has 19 years remaining. Rent is base rent or percentage of revenue, whichever is greater. Included in this memorandum is a breakdown of historical rents and a projection of remaining rents subject to the lease. The Grand Legacy at the Park Anaheim leased fee offering represents the opportunity to acquire an irreplaceable location near several demand drivers. Our Pro Forma analysis assumes rents received per a projected market recovery to pre-pandemic levels by year two, then continued modest growth supported by the increasing population and demand growth in the Southern California region. Percentage rent is expected to increase to $1.3M over the remaining term.

Investment Highlights

  • Steps to Disneyland & California Adventure (28M+ Attendance in 2019)
  • Easily Accessible to and from Interstate 5 and Several California State Highways
  • Significant Leisure & Business Demand: ~25M Visitors to Anaheim Annually
  • 2 Miles to Anaheim Convention Center, the Largest Exhibit Facility on the West Coast
  • Nearby Attractions Include Disneyland & California Adventure, Angel Stadium (home to MLB's Angels), Honda Center (home to NHL's Ducks), Knott's Berry Farm, Santa Ana Zoo and Several Southern California Beaches
  • Within 5 Miles of UC Irvine Medical Center, Providence St. Joseph Hospital & Kindred Hospital Santa Ana
  • Within 16 Miles of Chapman University, CSU Fullerton & UC Irvine | Top Rated Institutions with 88k+ Combined Enrollment
  • 15 Miles to Google's 3.5-Acre Irvine Campus

Exclusively Listed By

Miscellaneous

Grand Legacy at the Park Anaheim (Leased Fee)

Listing Price: $25,000,000

Cap Rate
3.70%
Tenant Name
Grand Legacy at the Park Anaheim, The Fifth
Years Remaining On Lease
18.6
Guarantor
Personal Guarantee
Rentable SF
99,572
Lease Type
NNN Ground Lease
Rent Per Square Feet
$9.38

Investment Highlights

  • Steps to Disneyland & California Adventure (28M+ Attendance in 2019)
  • Easily Accessible to and from Interstate 5 and Several California State Highways
  • Significant Leisure & Business Demand: ~25M Visitors to Anaheim Annually
  • 2 Miles to Anaheim Convention Center, the Largest Exhibit Facility on the West Coast
  • Nearby Attractions Include Disneyland & California Adventure, Angel Stadium (home to MLB's Angels), Honda Center (home to NHL's Ducks), Knott's Berry Farm, Santa Ana Zoo and Several Southern California Beaches
  • Within 5 Miles of UC Irvine Medical Center, Providence St. Joseph Hospital & Kindred Hospital Santa Ana
  • Within 16 Miles of Chapman University, CSU Fullerton & UC Irvine | Top Rated Institutions with 88k+ Combined Enrollment
  • 15 Miles to Google's 3.5-Acre Irvine Campus

Investment Overview

Marcus & Millichap is proud to present a ground leased fee offering consisting of a 1.09 acre parcel on the NEC of Harbor Boulevard and Disney Way and steps from Disneyland & California Adventure. The tenant operates The Grand Legacy at the Park Anaheim, a mixed two-story and four-story hotel comprised of 230 well-appointed guest rooms and suites with several desirable amenities including a heated outdoor pool & spa, guest laundry facilities and some subleased retail space including Tony Roma’s Restaurant and The Fifth, Anaheim’s Only Rooftop Restaurant & Bar. This offering includes the land associated with 115 of the hotel guest rooms, The Fifth restaurant, and a couple of the retail spaces. The remaining Grand Legacy hotel rooms and the Tony Roma’s restaurant are located on the adjacent parcel and are not included in this offering. The ground lease has 19 years remaining. Rent is base rent or percentage of revenue, whichever is greater. Included in this memorandum is a breakdown of historical rents and a projection of remaining rents subject to the lease. The Grand Legacy at the Park Anaheim leased fee offering represents the opportunity to acquire an irreplaceable location near several demand drivers. Our Pro Forma analysis assumes rents received per a projected market recovery to pre-pandemic levels by year two, then continued modest growth supported by the increasing population and demand growth in the Southern California region. Percentage rent is expected to increase to $1.3M over the remaining term.

Exclusively Listed By

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