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Black Bear Diner 1990 E 20th St 6,085 SF Retail Building Chico, CA 95928 $3,347,000 ($550.04/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- An absolute NNN single-tenant Black Bear Diner in Chico
- 10% rental increases during the primary term and option periods provide investors with a hedge against inflation
- Directly across from the center is a high performing Target – top 18% in the country per Placer.ai
- 14 years remaining in the primary term with three, 5-year options to extend the lease
- The subject property is a prominent outparcel of Chico Marketplace – a 585,000+ SF shopping center generating ~4.5M annual visitors per Placer.ai
- Ideal positioning on the signalized, hard corner intersection of 20th Street & Forest Avenue – 34,610 VPD
EXECUTIVE SUMMARY
An absolute NNN Black Bear Diner with 14 years remaining in the primary term of the lease which features 10% rental increases every 5 years and three, 5-year options to extend the lease term. The subject property is a prominent outparcel of Chico Marketplace – a 585,000+ SF shopping center generating ~4.5M annual visitors per Placer.ai.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,085 SF
Building Class
B
Year Built
2022
Price
$3,347,000
Price Per SF
$550.04
Cap Rate
6%
NOI
$200,808
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
0.55 AC
Walk Score®
Very Walkable (75)
Bike Score®
Biker's Paradise (92)
NEARBY MAJOR RETAILERS
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Black Bear Diner | 1990 E 20th St
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