2365 Esplanade Rd 2,620 SF Retail Building Chico, CA 95926 $799,000 ($304.96/SF) 7.45% Cap Rate

Income-producing freestanding restaurant property offered at $799,000. The real estate is occupied by Mi Pueblito under a lease extending through September 30, 2029, with one additional five-year tenant renewal option. Current contractual rent is $5,712 per month, or $68,544 annually.
Based on the current property-tax bill and estimated annual building insurance, preliminary current-owner NOI is approximately $59,536, representing a 7.45% cap rate at the asking price. Buyers should independently verify income, expenses, lease terms, and the effect of property-tax reassessment following a sale.
The property includes an approximately 2,620-square-foot freestanding restaurant building on approximately 0.40 acres with prominent Esplanade exposure, on-site parking, and established restaurant infrastructure. The modified-gross lease assigns the tenant responsibility for utilities, HVAC, mechanical and restaurant operating systems, and certain parking-lot maintenance. The parking lot was recently resealed at the tenant’s expense.
The roof is older and has received prior repair or maintenance work, although it is not represented as having been completely replaced. The HVAC equipment is also older, has been repaired, and remains the tenant’s responsibility under the lease. Property condition and responsibility for any future work are subject to the lease, buyer inspections, and customary due diligence.
Real estate only; the tenant’s restaurant business is not included in the sale. Please do not disturb the tenant. Property tours must be arranged through the listing broker. All information is believed reliable but should be independently verified by the buyer.