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Black Bear Diner

$3,347,000

1990 East 20th Street, Chico, CA 95928

Active
Last Updated: 02/26/2025

6

Cap Rate

200,808

NOI

Details:
Cap Rate:    6%
NOI:    $200,808
Building Size:    6,085 sqft
Lot Area:    0.55 acres
Lease Type:    Absolute Net
Tenancy:    Single
Year Last Renovated:    2022
Highlights:
  • An absolute NNN single-tenant Black Bear Diner in Chico
  • 15 years remaining in the primary term with three, 5-year options to extend the lease
  • 10% rental increases during the primary term and option periods provide investors with a hedge against inflation
  • The subject property is a prominent outparcel of Chico Marketplace – a 585,000+ SF shopping center generating ~4.5M annual visitors per Placer.ai
  • Prominent national retailers at the center include JCPenney, Home Goods, Dick’s Sporting Goods, Petco, Burlington, and Chipotle
  • Directly across from the center is a high performing Target – top 18% in the country per Placer.ai
  • Ideal positioning on the signalized, hard corner intersection of 20th Street & Forest Avenue – 34,610 VPD
  • Strong residential demographics – 97,522 residents and average household incomes of $87,058 within a 5-mile radius of the subject property
Description:

An absolute NNN Black Bear Diner with 15 years remaining in the primary term of the lease which features 10% rental increases every 5 years and three, 5-year options to extend the lease term. The subject property is a prominent outparcel of Chico Marketplace – a 585,000+ SF shopping center generating ~4.5M annual visitors per Placer.ai.

Map:
Documents:
Title
BlackBearDiner_ChicoCA.pdf
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Location
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