1990 20Th St Chico, CA 95928
- Retail properties
- 6,085 SF
- 0.55 lot acres
Current Use by Public Records
- Black Bear Diner Chico / American Restaurant / Breakfast Restaurant
Property Details for 1990 20Th St
- Lot size
- 0.55 lot acres
- Property size
- 6,085 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a freestanding, single-tenant Black Bear Diner located at 1990 E 20th St, Chico, CA 95928. The property boasts a 6,085 square foot building situated on a 0.55-acre lot, recently renovated in 2022. This absolute NNN net lease features a 15-year primary term with three, 5-year renewal options, providing long-term stability and predictable cash flow. Rent increases of 10% every 5 years offer a built-in hedge against inflation. The property generates a substantial net operating income (NOI) of $200,808, resulting in a compelling 6.00% cap rate at an asking price of $3,347,000. The diner enjoys a prime location as a prominent outparcel of Chico Marketplace, a major 585,000+ square foot shopping center attracting approximately 4.5 million annual visitors. This high-traffic location benefits from its proximity to national retailers such as JCPenney, Home Goods, Dick's Sporting Goods, Petco, Burlington, and Chipotle, as well as a high-performing Target store. The property's visibility is further enhanced by its position on a signalized corner intersection with a high volume of daily traffic (34,610 vehicles per day). The surrounding area demonstrates strong demographics, with 97,522 residents and an average household income of $87,058 within a 5-mile radius. This combination of a strong tenant, favorable lease terms, and excellent location makes this a highly attractive investment opportunity.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chico
- County
- Butte
- State
- California
- Longitude
- -121.802
- Latitude
- 39.7275
