225 Main StChico, CA 95928

This exceptional 23,444 square foot retail property, known as The Garden Walk Mall, is situated in the heart of Downtown Chico, California, just steps from California State University, Chico. The two-story building, constructed in 1965 and renovated in 1979, features 20 leasable units currently occupied by a mix of retail, service, and restaurant tenants. The property boasts a unique layout, with a walkable indoor mall configuration, offering the potential for continued operation under the existing model or complete redevelopment. The ground floor encompasses approximately 16,950 square feet of open clear-span arched wood truss construction, complemented by a 6,500 square foot, two-story section of CMU block with steel support columns. The DN (Downtown North) zoning allows for a wide array of uses, including retail, personal services, educational, cultural, and recreational uses, with office and residential options above the ground floor. With an allowable building height of 85 feet, the property benefits from high traffic counts on Main Street (approximately 15,000 ADT) and significant pedestrian traffic from the nearby university. Dual entrances on Main Street and Wall Street, along with ample street parking and large signage opportunities, enhance the property's visibility and accessibility. The asking price is $3,500,000, representing a price per square foot of $149.29. The property sits on a 16,988 square foot lot and is offered as a fee simple ownership with a triple net (NNN) lease structure. The current lease terms are 0 years, offering significant flexibility for the new owner. This is a value-add redevelopment opportunity with fourteen tenants and no credit rating available.