Chili's Absolute NNN
For Sale
Contact for pricing
2801 Countryside Dr, Turlock, CA 95380
Chili’s-branded property with an absolute NNN lease structure and no landlord responsibilities.
Property Size5,991 SF
Price / SF$463.19
Days on Market166
Property Features for 2801 Countryside Dr
General Information
Standard status
Active
Size
5,991 SF
Property subtype
Retail
Zoning
TUR CC
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$131,769
Building Details
Year Built
2005
Year Renovated
2023
Tenancy
Single
Listing Agency:
Sync Brokerage
(714) 875-8141
Listed By:
Kunal Sethi · License #CA 01351160
Source:
Crexi
Added: Mar 18
Changed: Aug 30
Last Checked: Aug 30 at 12:14PM
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 Sync Brokerage
Investment Insights
Based on property information with market context.
The property is associated with Chili’s Bar & Grill and contains 5,991 square feet. Built in 2005, it is offered with an absolute NNN lease structure that places no landlord responsibilities on the owner.
Located at 2801 Countryside Dr in Turlock, California, the asset carries TUR CC zoning. The lease is supported by a corporate guarantee from a publicly traded guarantor.
Located at 2801 Countryside Dr in Turlock, California, the asset carries TUR CC zoning. The lease is supported by a corporate guarantee from a publicly traded guarantor.
Key Highlights
- Absolute NNN lease structure
- 5,991‑square‑foot property built in 2005
- Corporate guarantee from a publicly traded guarantor
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
$139,937
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
5.04%
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%
$2,798,740
$2.8M
Cap Rate 7%
$1,999,100
$2.0M
Cap Rate 9%
$1,554,856
$1.6M
Market Conditions
NOI Build-Up for 5,991 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
$222.9K $37.20/SF
− Vacancy
−$23.0K −$3.83/SF
EGI
$199.9K $33.37/SF
− OpEx
−$60.0K −$10.01/SF
NOI
$139.9K $23.36/SF
Area
Stanislaus County, CA
Vacancy
10.30%
Lease Rate
$37.20 /SF/Yr
Expense Ratio
30.00%
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%
$2,798,740
Cap Rate 7%
$1,999,100
Cap Rate 9%
$1,554,856
Alternative Uses
Best Use
Retail
$2.00M
$1.75M – $2.33M
NOI $139,937 @ 7.0% cap · market cap 5.04%
Second Best
Specialty Retail
$1.33M
$1.16M – $1.55M
NOI $92,978 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$2.78M
$2.44M – $3.25M
NOI $194,919 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
Explore this area
Business Placement
Demographics for 95380, CA
42,912
Population
15,682
Households
2.7
Avg Household Size
34
Median Age
18%
College-Educated
73%
High-School Grad
77.2 sq mi
ZIP Area
556
Density / Sq Mi
$68,308
Median Household Income
$39,002
Median Earnings
$1,348
Median Rent
$410,300
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?
NNN property - Chili’s-branded property with an absolute NNN lease structure and no landlord responsibilities.
Where is this nnn property located?
The property is located at 2801 Countryside Dr Turlock, CA.
What is the asking price?
The asking price for this property is $2,775,000.
What are key features of this property?
This property features: Absolute NNN lease structure; 5,991‑square‑foot property built in 2005; Corporate guarantee from a publicly traded guarantor
