Building Details

Year Built 1997

Year Renovated 2021

Buildings 1

Stories 1

Units 3

Tenancy Multi

Listing Agency: Epic Real Estate Advisors, Inc

Listed By: Heath Charamuga · License #CA 01189551 Show Phone

Source: Crexi

Added: Feb 1, 2022 Changed: Oct 4 Last Checked: Oct 16 at 9:28AM

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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

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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 / Yr

$75,348

Cap Rate

6.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,506,960 $1.5M

Cap Rate 7%

$1,076,400 $1.1M

Cap Rate 9%

$837,200 $837.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,500 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $124,800 @ 7.0% cap · market cap 10.95%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

T-Mobile Mobile Phone Store

Suggested Use

Top Pick Big Box & Wholesale Store HVAC Service Building Supply Locksmith Furniture & Home Goods Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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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.**