A shopping center totaling 32,592 square feet has recently been placed up for sale in the Foothill Ranch community of Lake Forest. The fully occupied retail property is being offered at $19.5 million, or nearly $600 per square foot, according to the listing by Lucescu Realty.
Located at 41 Auto Center Dr., the property was built in 2006 and consists of two one-story buildings. Property records show that it is currently owned by an entity affiliated with Foothill Ranch Centers LLC.
The shopping center is currently fully occupied with 16 tenants, with a net operating income of $1.17 million. According to Lucescu Realty, the property offers a mix of both service and dining retailers, including Jersey Mike’s, Pacific Dental, Club Pilates, Banfield Pet Hospital and many others.
The property is located in a prime shopping area of Foothill Ranch, and is located across from Foothill Ranch Towne Centre. The 900,000 square foot community center is home to various retailers, including Walmart, Target, Hobby Lobby, Dollar Tree, PetSmart and more. The property is also closely situated to State Route 241, providing quick access to the rest of Orange County.
The area is also home to a large population, with 87,341 people residing in a three-mile radius of the property, according to the property listing. Those living within a three-mile radius also maintain an average household income of $151,869 per year.
