2875 Main StSusanville, CA 96130

Property Details for 2875 Main St

Year built

2006

Lot size

1.47 AC

Property size (Sq ft)

14,820 SF

Property type

Retail properties

Property subtype

Retail space

APN

105-310-015-000

APU

105310015000

Description

This exceptional investment opportunity features a 14,739 square foot Walgreens, built in 2006, situated on a 1.47-acre lot at a signalized hard corner in Susanville, CA. The property boasts a 75-year absolute NNN lease with a corporate guarantee from a credit-rated tenant, ensuring minimal landlord responsibilities. With a remaining lease term of 56.9 years, commencing October 1, 2006, and expiring September 30, 2081, this investment offers exceptional long-term stability and predictable cash flow. The property's strategic location on Main Street (State Highway 36), a major commercial thoroughfare, provides high visibility and accessibility. Its proximity to a Walmart Supercenter further enhances its desirability. The property generates a substantial net operating income (NOI) of $360,372, resulting in an attractive 7.50% cap rate. The asking price is $4,805,000. This free-standing building, featuring a drive-thru lane and large pylon sign, represents a compelling investment opportunity for discerning buyers seeking a secure, high-return asset with a blue-chip tenant. The property is 100% occupied.

• CAP approach

  CAP return

  Valuation

  6%

  $4,347,450

  6.5%

  $4,013,031

  7%

  $3,726,386

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,551,952

  Geo Method

  $8,551,952

• Alternative Use

  Use

  Valuation

  Residential

  $3,385,142

  Hospitality

  $3,100,772

  Educational

  $2,579,806

  Medical

  $2,668,529

  Retail

  $4,013,031

Location Insight

City

Susanville

County

Lassen

State

California

Latitude

40.4104

Longitude

-120.635

CBSA code

45000

CBSA name

SUSANVILLE, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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