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Lucid 28471 Marguerite Pky 28,156 SF Retail Building Mission Viejo, CA 92692 $35,901,991 CAD ($1,275.11 CAD/SF) 5.65% Cap Rate
Investment Highlights
- Long-Term Absolute NNN Lease – 100% absolute NNN leased to Lucid Group USA (NYSE: LCID) with 10 years remaining
- Secure Income Stream – 3% annual rent increases, providing a reliable inflation hedge backed by a publicly traded, high-growth tenant
- Infill Location with Substantial Tenant Investment – The property sits along one of Orange County's premier auto dealer rows in Mission Viejo
- Dense Retail and Commercial Corridor – Surrounded by national retailers including Walgreens, Starbucks, In-N-Out, and First Citizens Bank
Executive Summary
* Long-Term Absolute NNN Lease – 100% absolute NNN leased to Lucid Group USA (NYSE: LCID) with 10 years remaining. Lucid operates 820 locations nationwide and generated approximately $1.35 billion in revenue in 2025, a 68% year-over-year increase, underpinned by industry-leading EV battery range and performance.
* Secure Income Stream – The lease features 3% annual rent increases, providing a reliable inflation hedge backed by a publicly traded, high-growth tenant.
* Infill Location with Substantial Tenant Investment – The property sits along one of Orange County's premier auto dealer rows in Mission Viejo, with direct access to the I-5 Freeway (±250,000 CPD) and prominent frontage on Marguerite Parkway (±35,000 CPD). Lucid has committed $5 million in facility upgrades prior to occupancy, demonstrating strong confidence in the location.
* Dense Retail and Commercial Corridor – Surrounded by national retailers including Walgreens, Starbucks, In-N-Out, and First Citizens Bank, with neighboring automotive dealerships such as Audi Mission Viejo, South County Lexus, Land Rover Mission Viejo, Jaguar Mission Viejo, and Volvo Cars Mission Viejo.
* Secure Income Stream – The lease features 3% annual rent increases, providing a reliable inflation hedge backed by a publicly traded, high-growth tenant.
* Infill Location with Substantial Tenant Investment – The property sits along one of Orange County's premier auto dealer rows in Mission Viejo, with direct access to the I-5 Freeway (±250,000 CPD) and prominent frontage on Marguerite Parkway (±35,000 CPD). Lucid has committed $5 million in facility upgrades prior to occupancy, demonstrating strong confidence in the location.
* Dense Retail and Commercial Corridor – Surrounded by national retailers including Walgreens, Starbucks, In-N-Out, and First Citizens Bank, with neighboring automotive dealerships such as Audi Mission Viejo, South County Lexus, Land Rover Mission Viejo, Jaguar Mission Viejo, and Volvo Cars Mission Viejo.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Dealership
Building Size
28,156 SF
Building Class
B
Year Built
2001
Price
$35,901,991 CAD
Price Per SF
$1,275.11 CAD
Cap Rate
5.65%
NOI
$2,028,463 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
0.35
Lot Size
1.84 AC
Zoning
CH, Mission Viejo - zone is primarily intended to provide for highway-oriented businesses offering goods and services to a mobile population
Parking
110 Spaces (3.91 Spaces per 1,000 SF Leased)
Frontage
201’ on Marguerite Pky
Amenities
- Dedicated Turn Lane
- Freeway Visibility
- Signalized Intersection
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 740-016-06 | Improvements Assessment | $5,283,941 CAD |
| Land Assessment | $22,064,882 CAD | Total Assessment | $27,348,823 CAD |
Property Taxes
Parcel Number
740-016-06
Land Assessment
$22,064,882 CAD
Improvements Assessment
$5,283,941 CAD
Total Assessment
$27,348,823 CAD
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Lucid | 28471 Marguerite Pky
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