Retail Pad Building in
For Sale
Contact for pricing
2920 Main St, Susanville, CA 96130
6,500 SF retail building in Walmart Plaza.
Property Size6,500 SF
Price / SF$175.38
Days on Market1672
Property Features for 2920 Main St
General Information
Standard status
Active
Size
6,500 SF
Class
B
Property subtype
Retail
Occupancy
50%
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
1997
Year Renovated
2021
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Epic Real Estate Advisors, Inc
(916) 837-9384
Listed By:
Heath Charamuga · License #CA 01189551
Source:
Crexi
Added: Feb 1, 2022
Changed: Aug 17
Last Checked: Aug 30 at 7:27PM
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 Epic Real Estate Advisors, Inc
Investment Insights
Based on property information with market context.
The Walmart Plaza Shopping Center features a 6,500 square foot pad building leased to T-Mobile. The property is located in an opportunity zone and offers exposure to Highway 36 and monument signage. Walmart completed an expansion and remodel in 2019 after being at the site for over 30 years. The building is positioned at the main entrance and offers access to the adjacent Safeway shopping center. A new drive-thru lane is pending. The asset is located adjacent to all the local government agencies (within 1,500 ft.) – New Lassen County Courthouse, Lassen National Forest Service, US Social Security Administration, Lassen County District Attorney, Lassen County CAL Works, California DMV.
Key Highlights
- Leased to T‑Mobile, providing immediate income.
- Located in an opportunity zone.
- Excellent exposure to Highway 36 and monument signage.**
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
$75,348
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
6.61%
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%
$1,506,960
$1.5M
Cap Rate 7%
$1,076,400
$1.1M
Cap Rate 9%
$837,200
$837.2K
Market Conditions
NOI Build-Up for 6,500 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
$117.0K $18.00/SF
− Vacancy
−$9.4K −$1.44/SF
EGI
$107.6K $16.56/SF
− OpEx
−$32.3K −$4.97/SF
NOI
$75.3K $11.59/SF
Area
Lassen County, CA
Vacancy
8.00%
Lease Rate
$18.00 /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%
$1,506,960
Cap Rate 7%
$1,076,400
Cap Rate 9%
$837,200
Alternative Uses
Best Use
Retail
$1.08M
$941.9K – $1.26M
NOI $75,348 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,800 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
245k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 34%
Superstores 15%
Shops & Services 13%
Groceries 13%
Walmart
Superstores
36,948 visits/mo
0.2 miles
Safeway
Groceries
31,194 visits/mo
0.2 miles
McDonald's
Dining
20,171 visits/mo
0.2 miles
Marshalls
Apparel
18,049 visits/mo
0.2 miles
Taco Bell
Dining
14,974 visits/mo
0.2 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?
Retail space - 6,500 SF retail building in Walmart Plaza.
Where is this retail space located?
The property is located at 2920 Main St Susanville, CA.
What is the asking price?
The asking price for this property is $1,140,000.
What are key features of this property?
This property features: Leased to T‑Mobile, providing immediate income.; Located in an opportunity zone.; Excellent exposure to Highway 36 and monument signage.**
