For Sale
$3,347,000

1990 20Th StChico, CA 95928

NNN Leased Restaurant in Chico, CA

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a freestanding, single-tenant Black Bear Diner located at 1990 E 20th St, Chico, CA 95928. The property boasts a 6,085 square foot building situated on a 0.55-acre lot, recently renovated in 2022. This absolute NNN net lease features a 15-year primary term with three, 5-year renewal options, providing long-term stability and predictable cash flow. Rent increases of 10% every 5 years offer a built-in hedge against inflation. The property generates a substantial net operating income (NOI) of $200,808, resulting in a compelling 6.00% cap rate at an asking price of $3,347,000. The diner enjoys a prime location as a prominent outparcel of Chico Marketplace, a major 585,000+ square foot shopping center attracting approximately 4.5 million annual visitors. This high-traffic location benefits from its proximity to national retailers such as JCPenney, Home Goods, Dick's Sporting Goods, Petco, Burlington, and Chipotle, as well as a high-performing Target store. The property's visibility is further enhanced by its position on a signalized corner intersection with a high volume of daily traffic (34,610 vehicles per day). The surrounding area demonstrates strong demographics, with 97,522 residents and an average household income of $87,058 within a 5-mile radius. This combination of a strong tenant, favorable lease terms, and excellent location makes this a highly attractive investment opportunity.

Highlights

  • Absolute NNN single-tenant Black Bear Diner in Chico, CA.
  • 15-year primary lease term with three 5-year renewal options.
  • 10% rent increases every 5 years.
  • Prominent outparcel of Chico Marketplace, a 585,000+ SF shopping center with ~4.5 million annual visitors.
  • Strong co-tenancy including JCPenney, Home Goods, Dick's Sporting Goods, Petco, Burlington, and Chipotle.
  • High-performing Target store across the street.

Property Details for 1990 20Th St

Property type
Retail properties, Restaurants
Square Feet
6,085 SF
Year Renovated
2022
Lot Size (sq. ft)
23,958 SF

Location Insight

City
Chico
County
Butte
State
California
Latitude
39.727532
Longitude
-121.8019422
1990 20Th St, Chico, California

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1990 20Th St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message