895 L StCrescent City, CA 95531

Property Details for 895 L St

Lot size

0.47 AC

Property type

Commercial land

APN

118-250-013-000

APU

118250013000

Description

Exceptional investment opportunity: a brand-new, 2,325 square foot Chipotle restaurant in Crescent City, California, situated on a 0.85-acre lot. This is a single-tenant, net lease (NN+) property with a corporate guarantee from a Fortune 500 company, offering a secure and passive income stream. The 10-year lease commenced October 15, 2024, and expires October 31, 2034, featuring built-in rent bumps. The property boasts a 4.50% cap rate and a net operating income (NOI) of $200,000. Built in 2024, this location is the only Chipotle within an 80-mile radius, serving a population of 23,163 residents within a 10-mile radius, with an average annual household income of $88,460. Its strategic location at the signalized intersection of L Street and 9th Street on US Highway 101 ensures high visibility and accessibility, benefiting from over 7,700 vehicles passing daily. The property's proximity to schools (Joe Hamilton Elementary, Crescent Elk Middle, College of the Redwoods, and Del Norte High School) and tourist attractions (Del Norte County Fairgrounds, Ocean World, Crescent City Harbor District, and Battery Point Beach) further enhances its appeal. The site also benefits from its proximity to major national retailers like Walmart, Safeway, Grocery Outlet, Dollar Tree, and CVS. The restaurant incorporates a dedicated "Chipotlane" drive-thru for added customer convenience. This is a 1031 exchange eligible property.

• Alternative Use

  Use

  Valuation

  Residential

  $4,616,965

  Hospitality

  $4,229,115

  Educational

  $3,518,574

  Medical

  $3,639,583

  Retail

  $5,473,338

Location Insight

City

Crescent City

County

Del Norte

State

California

Latitude

41.7581

Longitude

-124.197

CBSA code

18860

CBSA name

CRESCENT CITY, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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