1111 Frst Ave Chico, CA 95928-6302

Property Details for 1111 Frst Ave

Year built

1998

Construction

TILT-UP CONCRETE

Lot size

1.38 lot acres

Property size

2,940 SF

Zone code

CC

Property type

Gas stations

APN

002-050-244-000

APU

2050244000

Description

This exceptional investment opportunity presents a 2,940-square-foot 7-Eleven convenience store and gas station located at 1111 Forest Ave, Chico, CA 95928. Built in 1998 on a 1.38-acre lot, this freestanding building features a canopy, twelve gasoline pumps, and ample parking for ten vehicles. The property boasts a strong, long-term lease with 7-Eleven, Inc., extending until November 30, 2033, with two five-year renewal options. The current net annual rent is $217,800, increasing by 10% on December 1, 2028. The lease is a triple-net lease, meaning the tenant is responsible for all taxes, insurance, and maintenance (including building interior and exterior, roof, parking lot, and gasoline equipment). The landlord's responsibility is limited to foundation and structural maintenance. This established location offers a compelling investment opportunity with a 5.50% cap rate and an asking price of $3,960,000. The property's price per square foot is $1,346.94. Projected cap rates increase over the lease term, offering significant long-term value. This is a rare chance to acquire a high-performing asset anchored by a globally recognized brand with a strong credit rating.