Dove Canyon Plaza | NNN Leases 31911-31991 Dove Canyon Dr 65,677 SF 92% Leased Retail Building Rancho Santa Margarita, CA 92688 For Sale

SRS Capital Markets is pleased to present the exclusive investment opportunity to acquire Dove Canyon Plaza, a 65,677-square-foot anchored retail center situated at the gateway to two of South Orange County’s most coveted gated communities, Dove Canyon and Coto de Caza.

This fee simple offering represents a rare chance to own institutionally positioned retail real estate in a submarket defined by extreme wealth concentration, physical land constraints, and virtually zero new commercial supply. In addition, Dove Canyon Plaza has recently undergone comprehensive capital improvements, including full exterior repainting and parking lot restriping, upgrading it to institutional condition.

Dove Canyon Plaza is a generational stabilization play with a clear path already underway. 74% of the gross leasable area (GLA) has been leased over the past 3 years, uplifting the occupancy rate to 94%, with most tenants on NNN leases. This rapid lease-up, combined with a weighted average lease term (WALT) of 7.2 years, reflects a tenant base actively choosing this location. The anchor composition is purpose-built for durability. Hoag Memorial Hospital’s urgent care operation, Mariners Church, and Goddard School account for 54% of occupancy. These anchors generate recurring foot traffic for the surrounding in-line businesses, such as My Gym, Dove Café, wellness services, specialized shops, and more.

Situated on 8.99 acres in a dense infill area with high barriers to entry, this is an irreplaceable coastal location in South Orange County. Dove Canyon Plaza is nestled in an affluent suburban node, home to some of the county’s most prestigious neighborhoods, and is constrained by significant geography, making it effectively impossible for new competing commercial projects. This allows Dove Canyon to capitalize on the powerful trade area, as evidenced by the more than 114,000 residents with average annual household incomes exceeding $198,000 within a 5-mile radius.

For investors seeking a well-leased, cash-flowing retail asset in a supply-strained market, Dove Canyon Plaza represents an uncommon convergence of income quality, demographic strength, and location permanence.