The residents of Laguna Niguel decided to create the Community Services District in1986 and on November 7, 1989, they voted to incorporate the city. Thus, on December 1, 1989, it emerged as the 29th city of Orange County, California.
The city had a population of 62,979 as of 2010, according to the U.S. Census. It is one of the most suburban among the cities in the county. It is located in the southeast and it was one of the first master-planned communities. It was created to provide a bedroom community and this has now become a very affluent community. Its median household income is 31% above the county average almost 50% over that of the national average. It is considered to be one of the safest in the county and part of its attraction are the many parks and public trails.
Laguna Niguel Retail Building for Sale & Lease – Should You Buy or Lease?
If you are interested in getting some retail space in Laguna Niguel, you have two major choices: buying or leasing.
First of all, the advantages of buying retail space include the fact that:
- Your expenses for the retail space will remain unchanged because the amortization will remain constant for the duration of the mortgage.
- You can file for several tax deductions, including property taxes and mortgage interest.
- You can lease out some of your retail space to provide you with additional income, assuming that the space is too large for your use.
- Your property will rise in value over time.
On the other hand, the cons of buying retail space include the fact that:
- It is much more difficult to relocate your business because you will first have to find a buyer for the property and then complete the selling process.
- A 30 percent down payment is often required. You will also have to shoulder maintenance, appraisal, and other property costs. This means that your upfront costs will be quite substantial.
Your other option is to lease retail space, which has some clear benefits, including the fact that:
- It is possible to obtain prime retail space, which will surely help to boost your reputation.
- Because you don’t have to pay for a huge down payment and other costs, you will be left with a bigger working capital.
- You can concentrate on your retail business. There is no need to be concerned about the usual issues that come with property ownership.
Of course, there are also some downsides leasing, including the fact that:
- Rents tend increase, which means your monthly expenses for using the retail space will also rise over time.
- The increasing value of the retail property will not be of benefit to you.
To help decide between the two options, we present the trends and statistics in terms of prices, supply, and demand with regards to retail property.
Laguna Niguel Retail Property for Sale – Trends and Statistics
- The asking prices for retail properties in Laguna Niguel in dollars per square foot is $408.88, which has remained the same over the past three months, but represents a 14.5% increase year on year. This is higher than the metro ($282.45) area and state ($214.98) area.
- The index of total dollars available for retail properties for sale in Los Angeles-Long Beach-Laguna Niguel is 45, which represents a 9.7% increase over the past three months and a 7.1% increase year on year.
- The index of total number of listings of retail properties available in Los Angeles-Long Beach-Laguna Niguel is 35, which is a 2.6% decrease over the past three months, as well as a 10.6% decrease year on year.
- The profile view index for retail property for sale in the Los Angeles-Long Beach-Laguna Niguel metro area is 123, which is a 10.6% increase over the past three months and a 14.7% increase year on year.
- The index of total square feet of available retail space for sale in the Los Angeles-Long Beach-Laguna Niguel metro area is 34, which is a 3.2% increase over the past three months, but an 8.5% decrease year on year.
Laguna Niguel Retail Property for Lease – Trends and Statistics
- The asking rent for retail properties for lease in Laguna Niguel in dollars per square foot per year is $24.21. This represents a 0.9% decrease over the past three months, but a 0.4% increase year on year. This is higher than the state ($20.88) area, but lower than the metro ($24.88) area.
- The index of total number of retail spaces for lease in the Los Angeles-Long Beach-Laguna Niguel area is 71, which represents a 2.4% increase over the past three months and a 1.4% increase year on year.
- The profile view index for retail properties for lease in the Los Angeles-Long Beach-Laguna Niguel area is 91, which is a 49.3% decrease over the past three months and a 47.5% decrease year on year.
- The index of total square feet of retail space available for lease in the Los Angeles-Long Beach-Laguna Niguel area is 69, which is a 5.3% increase over the past three months and a 3.3% increase year on year.