1990 20Th St Chico, CA 95928

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.