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
Nearby Similar for Sale
For Sale
$3,500,000
Downtown Chico Retail Center
Prime Chico location, 23,444 SF, redevelopment opportunity
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Contacts
Ryan Schulten
John Andreini
Kirby Dederian
Learn more
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1990 20Th St, Chico, California, 95928
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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1990 20Th St
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