FOR SALE TURNKEY RESTAURANT - TOWN CENTRE LAGUNA WOODS (FORMERLY A HOMETOWN BUFFET) - LOOPNET
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Turnkey Restaurant
(Formerly a HomeTown Buffet)
FOR SALE
Town Centre
Laguna Woods
in A Master Planned Community
24381 EL TORO ROAD, LAGUNA WOODS, CA 92637
Exclusively Marketed by
Darvishian Investment Group | CalBRE #01915377
REAL ESTATE INVESTMENT SERVICES
Orange County Office
600 Anton Boulevard
11th Floor
Costa Mesa, CA 92626
+1 949 396 1071 Main
+1 949 396 1081 Fax
Pasha Darvishian
Managing Partner
BRE Lic No 01397162
Pasha@darvishiangroup.com
+1 949 396 1075 Direct
+1 949 396 1081 Fax
Jon Hauso
Associate
BRE Lic No 02003482 24381 El Toro Rd,
Jon@darvishiangroup.com Laguna Woods, CA 92637
+1 949 396 1028 Direct
Square Feet: 9,100 appx sf
+1 949 396 1081 Fax Lot Size: 1.12 AC
TABLE OF CONTENTS
05 | Property Characteristics
13 | Investment Overview
10 | Area Overview
21 | Area Information
Town Centre
Laguna Woods
in A Master Planned Community
05 Property Characteristics
PROPERTY CHARACTERISTICS
Property Highlights
The Darvishian Investment Group (DIG) presents for sale a newer construction
commercial building in the highly sought after city of Laguna Woods, CA. The
property consists of a 9,100 square foot turnkey restaurant that was formerly
a HomeTown Buffet. The site closed when HomeTown Buffet filed for Chapter
11 Bankruptcy and closed over 500 stores. Based on previous reviews, this
particular location suffered from patrons complaining about poor quality food
and a disappointing staff.
That being said, the community of Laguna Woods continues to be an ideal
location for a restaurant. The city is a thriving community of 18,000 seniors with
medium to high average household income levels. The city attracts many upper
income seniors with a reported average household income of $97,676 to $115,
357 in a 3 to 5 mile radius, respectively.
Upon vacating, HomeTown Buffet left a number of valuable items such as:
• Four industrial size walk in refrigerator and freezer units
• 24 foot kitchen ventilation systems
• Large dishwasher station equipped to handle a large operation
• Hoshizaki Ice making machine, CO2 tanks and multiple hose lines
• Numerous stainless steel kitchen sink stations
• Men’s and and women’s employee restrooms
• Private administration office and multiple dry storage areas
• ADA compliant parking and entrance pathways
• ADA compliant men’s and women’s restrooms in dining room
• Expansive dining room area to accommodate large crowds
• Booth seating and free standing tables
• Multiple buffet station areas and serving stations with splash guards
• Newer LED lighting throughout dining room
• Beverage station in the middle of the dining room
• Security camera system throughout restaurant
• Pre-wired fully integrated building alarm system
6 Town Centre Laguna Woods | 24381 El Toro Rd, Laguna Woods, CA 92637
PROPERTY CHARACTERISTICS
Ideal Investment
The property is ideal for a restaurant operator to take advantage of the lost
opportunity Hometown Buffet left behind. The site has undergone the intense
capital investment and time needed to build a restaurant of this size and caliber.
A buyer could walk into a turn key restaurant and only need to make cosmetic
changes.
• Rare opportunity to purchase a turn key restaurant
TOWN CENTRE
• Intense capital and time required to build and permit restaurant
LAGUNA WOODS
• Restaurant was built for a national food operator with clear high quality standards
• Hundreds of thousands of dollars in tenant improvements included in purchase
• Located in Laguna Woods, CA - a high barrier to entry Orange County market
• Situated at the entrance of Laguna Woods Town Centre
The Subject property faces from El Toro Blvd and is visible to 35,000 cars per day.
Elevated from the street level, the property has great curb appeal and highly visible
signage. The Laguna Woods complex attracts a steady steam of Laguna Woods
residents that use the recreational center to pay city bills, apply for permits, use the
gym facilities and use the city meeting rooms.
Traffic Volume PROPERTY CHARACTERISTICS 7
PROPERTY CHARACTERISTICS Property Highlights (continued) • Newer 2004 construction building with steel frames • All mechanical equipment, HVAC 2004 construction • Stucco two-tone exterior with a brick facade • Beautifully designed community landscape with Palm trees throughout • Association professionally maintains parking lot and common areas • Golf cart designated parking areas • 60 parking spaces for exclusive use
PROPERTY CHARACTERISTICS
Property Details
Property Type: Multi-Use Commercial Building, formally a HomeTown Buffet.
Location: 24381 El Toro Road, Laguna Woods CA 92637
APN: 616-012-26
Square Feet: 9,100 appx sf
Lot Size: 1.12 AC
Zoning: Community Commercial
The subject property sits at the entrance of Town Centre Laguna Woods, a large
12.41 acre development which houses the Ayres Hotel, The Laguna Wood
Community center, a large medical office building and numerous other retail
and office businesses.
SUBJECT PROPERTY
LAGUNA WOODS VILLAGE
COMMUNITY CENTER
SCOS ORTHOPEDIC
SPECIALTIES AYRESS HOTEL
10 Town Centre Laguna Woods | 24381 El Toro Rd, Laguna Woods, CA 92637PROPERTY CHARACTERISTICS
Offering Summary
Offering Price: $ 3,995,000
Floor Plan
Price per Sq Ft: $439.00 9,100 appx sf.
Total Land: 48,787.20 appx sf
Year Built: 2004
Parking: 60 exclusive spaces
Ownership Fee Simple
PROPERTY CHARACTERISTICS 11Town Centre
Laguna Woods
in A Master Planned Community13 Investment Overview
N
Laguna Woods Golf Course
no ra
e S o
Ca l l
Okon Dental Lab
Laguna Woods Village
Community Center
El
To
r o
Rd
TOWN CENTER
MEDICAL BUILDINGINVESTMENT OVERVIEW
Ideal Investment
The property is ideal for a restaurant operator to take advantage of the lost
opportunity HomeTown Buffet left behind. The site has undergone the
intense capital investment and time needed to build a restaurant of this size
and caliber. A buyer could walk into a turn key restaurant and only need to
make cosmetic changes.
INVESTMENT OVERVIEW 15Aliso Viejo Country Club
N
Ca
lle
So
no
ra
El Toro Rd
TOWN CENTER
MEDICAL BUILDING
Laguna Woods Village
Community CenterINVESTMENT OVERVIEW
Association Assessments Abstract
Town Centre Laguna Woods
Association Annual Coverage Expenses
General and Administrative: $23,980.00
Landscape and Irrigation: $51,545.00
Maintenance, Pest Control and Lighting: $23,022.00
Property Protection: $8,800.00
Utilities: $31,920.00
Reserve Allocations: $33,293.00
Total Expenses Covered $172,560.00
Subject Property Pro Rata Share: 6.94%
Total Annual Assesments: 11,976.00
Property Taxes
Tax Rate: 1.03038%
Special Assessment Charges $36.34
Total Annual Amount: $41,200.021
Insurance
Estimated Annual Insurance $2,500.00
Total Annual Expenses (estimated): $55,676.02
Per Square Foot (estimated): $ .51 MONTHLY
INVESTMENT OVERVIEW 17INVESTMENT OVERVIEW
Population Growth
Located in Laguna Woods, CA- a high barrier to entry Orange County with
market average income 3-mile radius of $97,777. Situated at the entrance of
Town Centre Laguna Woods.
The chart below shows the projected robust population growth of 5.01% within
one mile of the Town Centre by the year 2021.
Graph below is population in a 1 mile radius.
Demographics
Population 1 mile 3 mile 5 mile
2016 Total Population: 18,431 123,905 266,408
2021 Population: 19,355 130,079 278,508
Pop Growth 2016-2021 5.01% 4.98% 4.54%
Average Age: 55.20 43.50 41.50
Households
2016 Total Households: 9,414 48,595 100,455
HH Growth 2016-2021 4.16% 4.54% 4.28%
Median Household Inc: $55,264 $74,701 $90,533
Avg Household Size: 1.90 2.40 2.60
2016 Avg HH Vehicles: 1.00 2.00 2.00
Housing
Median Home Value: $305,716 $467,731 $613,542
Median Year Built: 1974 1980 1983
18 Town Centre Laguna Woods | 24381 El Toro Rd, Laguna Woods, CA 92637INVESTMENT OVERVIEW Demographics Radius 1 mile 3 mile 5 mile POPULATION: 2021 Projection 19,355 130,079 278,508 2016 Estimate 18,431 123,905 266,408 2010 Census 16,683 112,295 247,308 Growth 2016-2021 5.01% 4.96% 4.54% Growth 2010-2016 10.48% 10.34% 7.72% 2016 Population Hispanic Origin 3,327 28,337 49,789 2016 Population by Race: White 15,162 98,492 207,873 Black 250 2,357 4,773 Am. Indian & Alaskan 75 788 1,508 Asian 2,379 17,373 40,985 Hawailan & Pacific Island 29 301 627 Other 536 4,595 10,641 U.S. Armed Forces: 1 73 261 Households: 2021 Projection 9,806 50,801 104,756 2016 Estimate 9,414 48,595 100,455 2010 Census 8,932 45,188 94,690 Growth 2016-2021 4.16% 4.54% 4.28% Growth 2010-2016 5.40% 7.54% 6.08% Owner Occupied 6,942 33,501 69,439 Renter Occupied 2,472 15,094 31,016 2016 Avg Household Income $79,202 $97,776 $115,357 2016 Med Household Income $55,264 $74,701 $90,533 2016 Households by Household Inc
Town Centre
Laguna Woods
in A Master Planned Community21 Area Overview
AREA OVERVIEW Located just west of Laguna Beach in the heart of South Orange County, California, Laguna Woods is home to premier active adult communities and expansive open spaces. With the Pacific Ocean just five miles away, the 7,000 acre Laguna Coast Wilderness Park on our border, and the 4,500 acre Aliso and Wood Canyons Wilderness Park down the road, opportunities abound to take in the great outdoors. Laguna Woods residents also enjoy easy access to a vast array of social clubs, world class destinations, and continuing education at some of California’s finest colleges and universities. The City is committed to ensuring that its residents have access to high quality goods and services close to home. An integral part of achieving that goal is the City’s “resident and business friendly” approach to regulatory and permitting matters. A championship 27-hole golf course, a nine-hole executive golf course, putting green and driving range, seven clubhouses, five pools, two fitness centers, tennis courts, a performing arts center, a library, over 250 clubs and organizations, a television station, hobby and game rooms, a full-time staff of gardeners, security officers, transportation services, and social events are some of the amenities to be found. Laguna Woods Village is a gated community for active adults, where one occupant is required to be 55 years of age or older. It is not just a place to live– it is a lifestyle opportunity, an ideal environment for those transitioning from careers and work to active retirement. The 18,000 residents of Laguna Woods Village are proud of the fact that no other community in the country offers so many advantages. Nowhere else will you find the combination of distinctive and gracious living, convenience to shopping, houses of worship and cinemas, complete recreation and social facilities and thousands of friendly, active people. 22 Town Centre Laguna Woods | 24381 El Toro Rd, Laguna Woods, CA 92637
AREA OVERVIEW
CITY OF LAGUNA WOODS
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DISCLAIMER
This map is a public resource of general information. The feature data provided on this map
represents the most accurate zoning and parcel information available at the most recent date
of revision. In the event of a conflict between information on this map and adopted City
Resolutions or Ordinances, the City’s Resolutions or Ordinances shall govern.
Source: Esri, DigitalGlobe, GeoEye, Earthstar Geographics, CNES/Airbus DS, USDA, USGS, AEX, Getmapping, Aerogrid, IGN, IGP, swisstopo, and the GIS User Community
Miles
0 0.25 0.5
PROPERTY CHARACTERISTICS 23AREA OVERVIEW
• Laguna Woods is
a city of 18,000
residents in 3.15
square miles. 90%
of the city consists
of Laguna Woods
Village a retirement
community formerly
known as “Leisure
World”
• Located in the heart
of South Orange
County surrounded
by Laguna Beach to
the West, Laguna
Hills to the South,
Mission Viejo to the
East and Irvine to
the North. The Town
Centre is located on
the “Golf Cart’ path.
24 Town Centre Laguna Woods | 24381 El Toro Rd, Laguna Woods, CA 92637DISCLAIMERS AND CONFIDENTIALITY
ALL PROPERTY SHOWINGS BY APPOINTMENT ONLY
DO NOT DISTURB TENANT
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Shaw Equity Inc. and/or Darvishian Investment
Group “Broker” and should not be made available to any other person or entity without the written consent broker. This Marketing Brochure has been prepared to provide summary, unverified information to prospec-
tive purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Broker. has not made any
investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the
property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the
financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained
from sources we believe to be reliable; however, Shaw Equity Inc. and Darvishian Investment Group have not verified, and will not verify, any of the information contained herein, nor has Broker conducted any
investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures
to verify all of the information set forth herein.
NON-ENDORSEMENT NOTICE
Shaw Equity Inc. and Darvishian Investment Group is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or
name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Darvishian Investment Group, its affiliates or subsidiaries, or any agent, product, service, or commercial
listing of Darvishian Investment Group, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
NET-LEASED DISCLAIMER
Shaw Equity Inc. and Darvishian Investment Group hereby advises all prospective purchasers of Net Leased property as follows:
The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Shaw Equity Inc. and Darvishian Investment Group has not and will not verify any of this
information, nor has Shaw Equity Inc. and Darvishian Investment Group conducted any investigation regarding these matters. Shaw Equity Inc. and Darvishian Investment Group makes no guarantee, warranty or
representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and com-
pleteness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Shaw Equity Inc. and
Darvishian Investment Group expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure
are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and
legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of
the property for your needs.
Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and
tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed
facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any
guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or
other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-
term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replace-
ment tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.
By accepting this Marketing Brochure you agree to release Shaw Equity Inc. and Darvishian Investment Group Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability
arising out of your investigation and/or purchase of this property.
PROPERTY CHARACTERISTICS 25Turnkey Restaurant
(formallly a HomeTown Buffet)
Town Centre
Laguna Woods
in A Master Planned Community
600 Anton Boulevard, 11th Floor, CA 92626
info@darvishiangroup.com | 949.396.1071You can also read
