For Sale
$4,253,000

3240 Bidwell StFolsom, CA 95630

High-return NNN ground lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 20-year absolute NNN ground lease for a Chevron convenience store and gas station located at 3240 E Bidwell St, Folsom, CA 95630. The 4,000 square foot property sits on a 1.3-acre lot and boasts a strong NOI of $185,000, yielding a 4.35% cap rate. The lease commenced July 15, 2024, and includes 20 years remaining, with rent bumps built in. The tenant, Chevron U.S.A. Inc., is investment-grade rated and provides a corporate guarantee, ensuring a secure and passive income stream. This prime location is just off State Route 50 (115,500 AADT), a major thoroughfare in the Sacramento MSA, and benefits from its proximity to a new retail center, The Shops at Folsom Ranch, and significant residential developments. The site is surrounded by major employers, including UC Davis Health and Dignity Health, and is situated within the rapidly growing Folsom Ranch master-planned community. With over 118,000 residents within a 5-mile radius and an average household income exceeding $282,000 within a 1-mile radius, this property offers exceptional stability and growth potential. The property is also ideally suited for a 1031 exchange. The lease includes two five-year option periods and a third option period of four years and eleven months. This is a rare opportunity to acquire a high-quality, long-term net lease investment in a thriving California market.

Highlights

  • High-traffic location: Signalized intersection of Alder Creek Parkway and East Bidwell Street, off SR-50 (115,500 AADT), with over 43,000 vehicles daily passing the site.
  • Outparcel in new retail center: Adjacent to The Shops at Folsom Ranch, anchored by Starbucks, The Habit Burger Grill, and others.
  • Strong surrounding demographics: Proximity to UC Davis Health, Dignity Health (approx. 4,500 employees), and Alder Creek Marketplace.
  • Dense residential area: Across from Rockress, Oakwood, Broadstone Estates, and Russell Ranch communities.
  • Large customer base: 118,147 residents within a 5-mile radius.
  • High-income area: Average household income within 1 mile is $282,028.

Property Details for 3240 Bidwell St

Property type
Retail properties, Grocery and convenience stores
Square Feet
4,000 SF
Year Built
2024
Lot Size (sq. ft)
56,628 SF

Location Insight

City
Folsom
County
Sacramento
State
California
Latitude
38.6371787
Longitude
-121.1130331
3240 Bidwell St, Folsom, California

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3240 Bidwell St
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