The subject property is a 97,620-square-foot neighborhood shopping center situated on 8.03 acres across five commercial-zoned parcels in Oroville, California.
Known as Oroville Plaza, the center is prominently located at the signalized intersection of Oro Dam Boulevard and Lincoln Street, which experiences traffic
counts exceeding 45,000 vehicles per day.
The property comprises 15 suites, four of which are currently vacant. The vacant units range in size from 1,290 square feet to 31,044 square feet. The largest
vacancy, measuring 31,044 square feet, was formerly occupied by Big Lots, which vacated in late 2024 as part of the retailer’s Chapter 11 bankruptcy
proceedings.
The largest current tenant is Dollar Tree, occupying 18,500 square feet. Dollar Tree has operated at the center since 2002 and recently executed a forth
Amendment to their lease that extended the lease term an additional 5-years. The second-largest tenant is the Salvation Army Thrift Store, which occupies
14,212 square feet, has been a tenant since 2010, and currently operates on a month-to-month lease. Other tenants include Mountain Mike’s Pizza, Prime Time
Nutrition, Rent-A-Center, Tacos Tijuana Restaurant, Oro Jewelry & Loan, Holbrook Furniture, Smoke & Toke, and a newly signed lease with Mi Jalisco
Restaurant. Notably, all tenants are paying rental rates at or below market levels, providing additional upside potential.
Offered at $91 per square foot with a 62% current occupancy rate, Oroville Plaza presents an excellent value-add investment opportunity. Additionally, the
property offers significant redevelopment potential, given its prime location on a high-traffic, signalized hard corner with excellent street visibility. The center
features multiple large monument signs and sits on five separate parcels, offering investors the potential to create further value by selling off individual parcels.