Leased Restaurant Investment
For Sale
$375,000
1020 Main St, Chico, CA 95928
Fully leased restaurant in downtown Chico with parking.
Property Size2,000 SF
Price / SF$187.50
Days on Market111
Property Features for 1020 Main St
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Commercial
Building Details
Year Built
1945
Listing Agency:
Harris Commercial Real Estate
(530) 419-1600
Listed By:
Brandon Harris · License #01318261
(530) 419-1600
Source:
Elliman
Added: Apr 11
Changed: Jul 10
Last Checked: Jul 29 at 11:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Harris Commercial Real Estate
Investment Insights
Based on property information with market context.
This is an opportunity to acquire a fully leased restaurant investment property in downtown Chico. The property, located at 1020 Main Street, is approximately 2,000 square feet and is leased to Carnitas El Rincon, a 22-unit Mexican Restaurant operator. The lease is for 5 years, commencing May 1, 2025, with annual rent increases. The property benefits from its history as a longstanding restaurant location, offering visibility and established restaurant use in one of Chico’s recognizable commercial corridors. The property also features a rear patio/storage area and a large private parking lot. Recent improvements include new interior and exterior paint, updated flooring, upgraded lighting, a new electrical panel, and a new roof with warranty. Landlord responsibility is limited to the roof, foundation, and structural elements of the premises, while the tenant is responsible for all utilities and day-to-day premises and mechanical maintenance obligations. The location has a bike score of 74, indicating it is very bikeable, and a walk score of 71, indicating it is very walkable.
Key Highlights
- Fully leased to Carnitas El Rincon, a 22‑unit Mexican restaurant operator, with a 5‑year lease commencing May 1, 2025, providing immediate income.
- New roof with warranty and recent significant building improvements including interior/exterior paint, flooring, lighting, and electrical panel.
- Low‑management investment with limited landlord responsibilities.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.4k | $18.72 |
| − Vacancy | −$2.1k | −$1.05 |
| EGI | $35.3k | $17.67 |
| − OpEx | −$8.8k | −$4.42 |
| NOI | $26.5k | $13.25 |
2,000 SF · lease $18.72/SF/yr · vacancy 5.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$378.7K
$331.4K – $441.8K
NOI $26,508 @ 7.0% cap · market cap 7.07%
Second Best
Retail
$353.4K
$309.3K – $412.3K
NOI $24,740 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$403.8K
$353.3K – $471.1K
NOI $28,267 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,837
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95928, CA
38,378
Population
17,455
Households
2.2
Avg Household Size
35
Median Age
41%
College-Educated
90%
High-School Grad
145.4 sq mi
ZIP Area
264
Density / Sq Mi
$65,350
Median Household Income
$32,615
Median Earnings
$1,419
Median Rent
$476,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully leased restaurant in downtown Chico with parking.
Where is this conventional restaurant located?
The property is located at 1020 Main St Chico, CA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Fully leased to Carnitas El Rincon, a 22‑unit Mexican restaurant operator, with a 5‑year lease commencing May 1, 2025, providing immediate income.; New roof with warranty and recent significant building improvements including interior/exterior paint, flooring, lighting, and electrical panel.; Low‑management investment with limited landlord responsibilities.
