229 Broadway St - Bar FOR SALE


Chico, CA 95928- Downtown Chico
$2,550,000 USD
530-828-9289
229 Broadway St, Chico, CA for Sale
$2,550,000 USD
Bar - FOR SALE
1/29
null | Request Cap Rate

229 Broadway St
Chico, CA 95928
Downtown Chico


HIGHLIGHTS

  • - Complete seven-figure remodel in 2018
  • - Turn-key property with full kitchen build-out
  • - Front and rear patios with gas heaters
  • - Located in the center of Downtown Chico
  • - Longstanding restaurant/bar location
  • - Two Parcels included in the sale

OVERVIEW

Prime Downtown Chico Restaurant & Bar Opportunity Located in the absolute core of Downtown Chico, just steps from California State University, Chico, this premier restaurant and bar offers unmatched visibility along Broadway between 2nd and 3rd Streets. Consisting of two parcels, this building features striking architecture, a dramatic glass-front entrance, and multiple heated patios, the property is a true centerpiece in Chico’s bustling core. The interior has a mostly open floorplan with tall 15' ceilings, private banquet room, long-bar with 14 beer taps, large ADA compliant restrooms, and large basement area for storage and office use. The rear patio is nearly 3,000 SF and features a bar area, engineered canvas awning systems, built-in fire pits, built-in gas heaters, floor drains, and storage. The two street-front patios are mostly shaded and have built-in gas heaters. The large kitchen is fully equipped with multiple Type II hoods, walk-in fridges, dishwashing line, warming station and more. In 2018, the building underwent a comprehensive, seven-figure remodel from the ground up, leaving it nearly turn-key and ready for a new operator. Options are available for a buyer to acquire the existing Type 47 liquor license, Type 58 caterer license, and all existing furniture, fixtures, and equipment along with the real estate. The location in the Downtown area could not be better: surrounded by a vibrant mix of retail, personal services, financial institutions, and dining operators on the ground floor, with offices and residential users above. With over 13,000 students enrolled at CSU, Chico just two blocks away and a dense concentration of businesses and housing in the immediate area, pedestrian traffic is consistently strong. Downtown Chico also benefits from excellent access and amenities, including metered street parking (M–F, 9am–6pm), four street-level public lots, a three-story parking garage and a Downtown Chico PBID organization. The area is further energized by a robust calendar of annual events such as Thursday Night Markets, Friday Night Concerts, Saturday Farmer’s Market, Taste of Downtown, Slice of Chico, Art & Wine Walk, Chico Live Concert Series, Harvest Sidewalk Sale, ARTober Fest, Christmas Preview, and the seasonal Ice Rink in the Plaza. This is a rare opportunity to acquire a trophy restaurant/bar property in Chico’s most desirable location.

FOR SALE DETAILS

PRICE

$2,550,000 USD

PRICE/SF

$425 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Turn-Key Restaurant and Bar - Downtown Chico

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bar

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

DN

APN/PARCEL ID

004-081-018-000,004-081-019-000

ASK ABOUT THIS PROPERTY

Brandon HarrisHarris Commercial Real Estate ServicesMore Info
530-828-9289

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Brandon HarrisHarris Commercial Real Estate ServicesMore Info
530-828-9289

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.