2365 Esplanade Rd - Restaurant FOR SALE


Chico, CA 95926
$799,000 USD
916-622-5897
2365 Esplanade Rd, Chico, CA for Sale
$799,000 USD
Restaurant - FOR SALE
1/5
null | 7.45% Cap Rate

2365 Esplanade Rd
Chico, CA 95926


HIGHLIGHTS

  • Established restaurant tenant with lease through September 2029 plus one five-year renewal option
  • Approximately 2,620 SF freestanding building on 0.40 acres with Esplanade exposure and on-site parking
  • $68,544 annual rent with tenant responsible for HVAC, utilities and key operating expenses

OVERVIEW

Income-producing freestanding restaurant property offered at $799,000. The real estate is occupied by Mi Pueblito under a lease extending through September 30, 2029, with one additional five-year tenant renewal option. Current contractual rent is $5,712 per month, or $68,544 annually. Based on the current property-tax bill and estimated annual building insurance, preliminary current-owner NOI is approximately $59,536, representing a 7.45% cap rate at the asking price. Buyers should independently verify income, expenses, lease terms, and the effect of property-tax reassessment following a sale. The property includes an approximately 2,620-square-foot freestanding restaurant building on approximately 0.40 acres with prominent Esplanade exposure, on-site parking, and established restaurant infrastructure. The modified-gross lease assigns the tenant responsibility for utilities, HVAC, mechanical and restaurant operating systems, and certain parking-lot maintenance. The parking lot was recently resealed at the tenant’s expense. The roof is older and has received prior repair or maintenance work, although it is not represented as having been completely replaced. The HVAC equipment is also older, has been repaired, and remains the tenant’s responsibility under the lease. Property condition and responsibility for any future work are subject to the lease, buyer inspections, and customary due diligence. Real estate only; the tenant’s restaurant business is not included in the sale. Please do not disturb the tenant. Property tours must be arranged through the listing broker. All information is believed reliable but should be independently verified by the buyer.

FOR SALE DETAILS

PRICE

$799,000 USD

PRICE/SF

$203 USD /SF

CAP RATE

7.45%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1969

SPRINKLERS

-

PARKING SPACES

36

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,424 SF

ZONING

C1

APN/PARCEL ID

006-140-013-000

ASK ABOUT THIS PROPERTY

Scott BeatonScott BeatonMore Info
916-622-5897

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Scott BeatonScott BeatonMore Info
916-622-5897

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