Freestanding Storefront with
For Sale
Contact for pricing
1615 Main St, Susanville, CA 96130
Hard-corner retail property with pharmacy-grade dual drive-through lanes and C-2 Retail Trade zoning.
Property Size17,369 SF
Lot Size1.60 Acres
Price / SF$169.84
Days on Market12
Property Features for 1615 Main St
General Information
Standard status
Active
Size
17,369 SF
Total Parking Spaces
62
Lot size
1.60 Acres
Property subtype
RETAIL
Zoning
C-2
Site & Location
Corner Location
Yes
Drive-Thru
Yes
Building Details
Buildings
1
Parking Ratio
3.57 per 1,000 SF
Listing Agency:
Colliers | Reno
(775) 413-9026
Listed By:
Shannon Leonard · License #0046702
Source:
Moodyscre
Added: Aug 11
Changed: Aug 15
Last Checked: Aug 21 at 4:21AM
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 Colliers | Reno
Investment Insights
Based on property information with market context.
This freestanding storefront property contains ±17,369 SF on approximately ±1.60 acres and was formerly occupied by Rite Aid. The building includes a pharmacy-grade double drive-through that can remain configured for pharmacy or urgent care use or be converted to a QSR coffee or beverage operation. On-site parking includes 62 spaces.
Positioned at 1615 Main St in Susanville, the property occupies a hard corner at a primary commercial intersection. It is identified as the only signalized retail corner in the primary trade area and carries C-2 Retail Trade zoning, supporting broad commercial use by right.
Positioned at 1615 Main St in Susanville, the property occupies a hard corner at a primary commercial intersection. It is identified as the only signalized retail corner in the primary trade area and carries C-2 Retail Trade zoning, supporting broad commercial use by right.
Key Highlights
- ±17,369 SF freestanding former Rite Aid on ±1.60 Acres
- Pharmacy‑grade double drive‑thru with conversion potential for QSR coffee or beverage use
- 62 parking spaces, equal to 3.57 / 1,000 SF
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$209,101
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,182,020
$4.2M
Cap Rate 7%
$2,987,157
$3.0M
Cap Rate 9%
$2,323,344
$2.3M
Market Conditions
NOI Build-Up for 17,369 SF
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.
Gross rent
$296.0K $17.04/SF
− Vacancy
−$17.2K −$0.99/SF
EGI
$278.8K $16.05/SF
− OpEx
−$69.7K −$4.01/SF
NOI
$209.1K $12.04/SF
Area
Lassen County, CA
Vacancy
5.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,182,020
Cap Rate 7%
$2,987,157
Cap Rate 9%
$2,323,344
Alternative Uses
Best Use
Specialty Retail
$2.99M
$2.61M – $3.49M
NOI $209,101 @ 7.0% cap · market cap 7.09%
Second Best
Retail
$2.88M
$2.52M – $3.36M
NOI $201,341 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$4.76M
$4.17M – $5.56M
NOI $333,485 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
78k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 45%
Shops & Services 29%
Dining 26%
Susanville Supermarket IGA
Groceries
19,628 visits/mo
0.2 miles
Grocery Outlet Bargain Market
Groceries
15,625 visits/mo
0.1 miles
Burger King
Dining
12,026 visits/mo
0.1 miles
Chevron
Shops & Services
5,646 visits/mo
0.0 miles
Papa Murphy's
Dining
5,275 visits/mo
0.3 miles
Demographics for 96130, CA
22,121
Population
7,193
Households
3.1
Avg Household Size
36
Median Age
12%
College-Educated
77%
High-School Grad
499.9 sq mi
ZIP Area
44
Density / Sq Mi
$71,125
Median Household Income
$41,962
Median Earnings
$982
Median Rent
$258,400
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Hard-corner retail property with pharmacy-grade dual drive-through lanes and C-2 Retail Trade zoning.
Where is this storefront property located?
The property is located at 1615 Main St Susanville, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: ±17,369 SF freestanding former Rite Aid on ±1.60 Acres; Pharmacy‑grade double drive‑thru with conversion potential for QSR coffee or beverage use; 62 parking spaces, equal to 3.57 / 1,000 SF
