575 East AveChico, CA 95926

Property Details for 575 East Ave

Year built

1954

Property size (Sq ft)

2,390 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

Prime 4-unit retail shopping center in Chico, CA, totaling 2,390 square feet on a 9,148 square foot lot. Built in 1954 and renovated in 2024, this Class C property offers a compelling value-add investment opportunity. Currently boasting 50% occupancy with four tenants on one-year leases commencing September 1, 2024, and expiring August 31, 2025, the property generates a current NOI of $13,270, with a pro-forma NOI projected at $38,830. Two units are currently occupied at recently increased rents, providing immediate cash flow. The remaining two units are vacant and actively marketed at market rates, presenting a clear path to increase income. The property features excellent visibility and high traffic exposure at the intersection of East Avenue and El Paso Way, benefiting from nearby residential areas and public transit. Seven parking spaces are available. The asking price is $359,900, representing a current cap rate of 3.69% and a pro-forma cap rate of 10.79%. The property is zoned OR. This is a rare opportunity to acquire a well-located retail property with significant upside potential in a thriving Chico market.

Location Insight

City

Chico

County

Butte

State

California

Latitude

39.7614

Longitude

-121.852

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].