Rancho Mission Viejo, CA 92694,74 Esencia
$6,500,000
$6,500,000
Est.Price: ?

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1.1 Acres Lot

74 Esencia Rancho Mission Viejo, CA 92694

Est. payment /mo
SOLD DATE : 05/24/2021

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Key Details

Sold Price $6,500,000

Property Type Commercial

Sub Type Special Purpose

Listing Status Sold

Purchase Type For Sale

MLS Listing ID OC20235212

Sold Date 05/24/21

HOA Y/N No

Year Built 2018

Lot Size 1.100 Acres

Property Description

Sale-leaseback. Current owner is a Montessori preschool operator and looking to leaseback on a long term lease. Operator owns 4 Montessori preschools in Orange County and has been operating Montessori preschools since 2009. Recent appraisal was $6.6 million and owner will prepay rent for the entire 2021. This class A property was new construction completed in 2018 and is the only child care provider in the new community of Rancho Mission Viejo. Property is priced at a 6% cap rate to move fast. This is an absolute NNN lease where tenant will take care of everything and buyer will have zero responsibility for the property. Child Care is an essential business and will continue to grow. Enrollment numbers are ~80% of pre-COVID and are growing each month.

Location

State CA

County Orange

Area Esen - Esencia

Interior

Fireplace No

Laundry Stacked

Building

Lot Description Lot Over 40000 Sqft

Story 2

Water Public

Others

Tax ID 75541118

Financing Cash to New Loan

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Scott Ayres • Bay Property Management & Rlty
Bought with General NONMEMBER • NONMEMBER MRML

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Nicole Parent

Broker Associate | License ID: 01827226

+1(559) 930-7171

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