Grocery Store with Apartments
For Sale
Contact for pricing
2120 Main Street, Susanville, CA 96130
Grocery store, butcher shop, and apartments in Susanville, CA.
Property Size6,000 SF
Price / SF$250
Days on Market177
Property Features for 2120 Main Street
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Retail
Zoning
Commercial
Investment Type
Owner/User
Building Details
Year Built
1927
Buildings
1
Units
5
Tenancy
Multi
Listing Agency:
Smith Properties Susanville
(530) 257-2441
Listed By:
Larry Smith · License #CA 00551162
Source:
Crexi
Added: Feb 17
Changed: Aug 8
Last Checked: Aug 12 at 5:20AM
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 Smith Properties Susanville
Investment Insights
Based on property information with market context.
The property features a grocery store and butcher shop on the first floor, which has been a family-run business since 1968. The business is available with or without the real estate. A parking lot is located on the north side of the building. A separate building in the back serves as storage and a freezer room for processed meat. Upstairs, there are four apartments that currently generate a total rental income of $2,700 per month. The building encompasses over 6,000 square feet and is located in Susanville, CA. The property is the home to Idaho Grocery and Butcher Shop and is the only game and meat processing facility in Lassen County. The real estate is listed separately.
Key Highlights
- Established business: Successfully run butcher shop and grocery store since 1968.
- Income potential: Four apartments upstairs generate $2,700 per month in rental income.
- Large building: Over 6,000 square feet.
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
$72,233
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
4.82%
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%
$1,444,660
$1.4M
Cap Rate 7%
$1,031,900
$1.0M
Cap Rate 9%
$802,589
$802.6K
Market Conditions
NOI Build-Up for 6,000 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
$102.2K $17.04/SF
− Vacancy
−$5.9K −$0.99/SF
EGI
$96.3K $16.05/SF
− OpEx
−$24.1K −$4.01/SF
NOI
$72.2K $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%
$1,444,660
Cap Rate 7%
$1,031,900
Cap Rate 9%
$802,589
Alternative Uses
Best Use
Specialty Retail
$1.03M
$902.9K – $1.20M
NOI $72,233 @ 7.0% cap · market cap 4.82%
Second Best
Retail
$993.6K
$869.4K – $1.16M
NOI $69,552 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,200 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
151k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 31%
Superstores 24%
Dining 17%
Groceries 10%
Walmart
Superstores
36,948 visits/mo
0.4 miles
Grocery Outlet Bargain Market
Groceries
15,625 visits/mo
0.4 miles
Tractor Supply Co.
Home Improvements & Furnishings
13,058 visits/mo
0.2 miles
Burger King
Dining
12,026 visits/mo
0.4 miles
Dollar Tree
Shops & Services
10,474 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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Similar Off Market Nearby
- Safeway — 2970 Main St, Susanville, CA 96130
- Grocery Outlet — 1616 Main St, Susanville, CA 96130
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Grocery store, butcher shop, and apartments in Susanville, CA.
Where is this grocery and convenience store located?
The property is located at 2120 Main Street Susanville, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Established business: Successfully run butcher shop and grocery store since 1968.; Income potential: Four apartments upstairs generate $2,700 per month in rental income.; Large building: Over 6,000 square feet.
