1990 20Th StChico, CA 95928

Property Details for 1990 20Th St

Lot size

0.55 AC

Property size (Sq ft)

6,085 SF

Property type

Retail properties

Property subtype

Restaurants

Description

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.

Location Insight

City

Chico

County

Butte

State

California

Latitude

39.7275

Longitude

-121.802

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