3240 Bidwell St Folsom, CA 95630-7251

Property Details for 3240 Bidwell St

Zone code

SP-GC (PD)

Property type

Commercial land

APN

072-4150-004-0000

APU

7241500040000

Description

This exceptional investment opportunity presents a 20-year absolute NNN ground lease for a Chevron convenience store and gas station located at 3240 E Bidwell St, Folsom, CA 95630. The 4,000 square foot property sits on a 1.3-acre lot and boasts a strong NOI of $185,000, yielding a 4.35% cap rate. The lease commenced July 15, 2024, and includes 20 years remaining, with rent bumps built in. The tenant, Chevron U.S.A. Inc., is investment-grade rated and provides a corporate guarantee, ensuring a secure and passive income stream. This prime location is just off State Route 50 (115,500 AADT), a major thoroughfare in the Sacramento MSA, and benefits from its proximity to a new retail center, The Shops at Folsom Ranch, and significant residential developments. The site is surrounded by major employers, including UC Davis Health and Dignity Health, and is situated within the rapidly growing Folsom Ranch master-planned community. With over 118,000 residents within a 5-mile radius and an average household income exceeding $282,000 within a 1-mile radius, this property offers exceptional stability and growth potential. The property is also ideally suited for a 1031 exchange. The lease includes two five-year option periods and a third option period of four years and eleven months. This is a rare opportunity to acquire a high-quality, long-term net lease investment in a thriving California market.