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Shopping Regional

Mission Plaza

52 Mission Cir, Santa Rosa, CA 95409

Listing Price: $9,085,000

Cap Rate
6.29%
Gross SF
28,587
Rentable SF
28,587
Price/Gross SF
$317.80
Lot Size
3.10 acres
Year Built
1987

Investment Overview

Mission Plaza represents an outstanding to acquire a seasoned retail center, anchored by Burger King, and Verizon Wireless on the out-parcel, and McDonald's on its own pad (NAP). The retail tenants of Mission Plaza are internet-resistant and cater well to customers residing in the subject property trade area. In addition to two of the Nation's leading brands in fast food (Burger King) and wireless network operators (Verizon Wireless), the remaining tenant mix includes a combination of service-oriented retailers such as Cielito Lindo Restaurant, Halo Salon, Sarmentine Bakery, and Fru-ta Artisan Ice Cream, and second-floor retail and office space. The average lease rates, common area maintenance, and other industry-standard tenant expenses at Mission Plaza are at sustainable levels, including post-sale property taxes. Located in Santa Rosa, California, Mission Plaza shopping center is situated on the signalized, hard corner of Sonoma Highway and Mission Boulevard. Ingress/egress are via two double-wide curb cuts, accessible from Mission Circle, which wraps around the subject property to the south, and connects Sonoma Highway to Mission Boulevard. Tenant signage is provided by channel cut, on-building tenant signage, with additional exposure to foot and vehicular traffic on Sonoma Highway and Mission Boulevard from the monument sign. There is ample on-site parking with 171 parking stalls equating to over five parking spaces per one thousand square feet of gross building area. The subject property is comprised of two buildings on totaling 28,787 square feet on a total of four parcels, equaling roughly 3.1 acres. The site is level with irrigated landscaping. The structure is wood frame with stucco exterior wall built on a concrete slab foundation. The parking surface is asphalt in sound condition. At just over $300 per square foot, and a 6.50% capitalization rate, Mission Plaza shopping center is arguable the most attractive multi-tenant shopping center offering in the greater Bay Area when compared to similar recently closed and currently available properties.

Investment Highlights

  • Verizon Wireless and Burger King provide strong credit and high vehicle and foot traffic as the anchor tenants to Mission Plaza.
  • A mixture of predominantly triple net (NNN) and gross leases make for minimal management responsibilities; however, provide upside in the potential to convert gross leases to NNN in the future.
  • Located in the heart of Sonoma County, subject property is easily accessible from the San Francisco Bay Area and Napa Valley.
  • McDonald's (NAP) provides excellent vehicle and foot traffic.
  • Attractive return and price per square foot compared to similar recently closed, and currently available offerings.

Exclusively Listed By

Shopping Regional

Mission Plaza

Listing Price: $9,085,000

Cap Rate
6.29%
Gross SF
28,587
Rentable SF
28,587
Price/Gross SF
$317.80
Lot Size
3.10 acres
Year Built
1987

Investment Highlights

  • Verizon Wireless and Burger King provide strong credit and high vehicle and foot traffic as the anchor tenants to Mission Plaza.
  • A mixture of predominantly triple net (NNN) and gross leases make for minimal management responsibilities; however, provide upside in the potential to convert gross leases to NNN in the future.
  • Located in the heart of Sonoma County, subject property is easily accessible from the San Francisco Bay Area and Napa Valley.
  • McDonald's (NAP) provides excellent vehicle and foot traffic.
  • Attractive return and price per square foot compared to similar recently closed, and currently available offerings.

Investment Overview

Mission Plaza represents an outstanding to acquire a seasoned retail center, anchored by Burger King, and Verizon Wireless on the out-parcel, and McDonald's on its own pad (NAP). The retail tenants of Mission Plaza are internet-resistant and cater well to customers residing in the subject property trade area. In addition to two of the Nation's leading brands in fast food (Burger King) and wireless network operators (Verizon Wireless), the remaining tenant mix includes a combination of service-oriented retailers such as Cielito Lindo Restaurant, Halo Salon, Sarmentine Bakery, and Fru-ta Artisan Ice Cream, and second-floor retail and office space. The average lease rates, common area maintenance, and other industry-standard tenant expenses at Mission Plaza are at sustainable levels, including post-sale property taxes. Located in Santa Rosa, California, Mission Plaza shopping center is situated on the signalized, hard corner of Sonoma Highway and Mission Boulevard. Ingress/egress are via two double-wide curb cuts, accessible from Mission Circle, which wraps around the subject property to the south, and connects Sonoma Highway to Mission Boulevard. Tenant signage is provided by channel cut, on-building tenant signage, with additional exposure to foot and vehicular traffic on Sonoma Highway and Mission Boulevard from the monument sign. There is ample on-site parking with 171 parking stalls equating to over five parking spaces per one thousand square feet of gross building area. The subject property is comprised of two buildings on totaling 28,787 square feet on a total of four parcels, equaling roughly 3.1 acres. The site is level with irrigated landscaping. The structure is wood frame with stucco exterior wall built on a concrete slab foundation. The parking surface is asphalt in sound condition. At just over $300 per square foot, and a 6.50% capitalization rate, Mission Plaza shopping center is arguable the most attractive multi-tenant shopping center offering in the greater Bay Area when compared to similar recently closed and currently available properties.

Exclusively Listed By

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