855.375.4001
Listed by 530-828-0011 - Michael Donnelly - Coldwell Banker C&C Properties
$3,699,000 affordable loan icon Calculate Payment

Mangrove Avenue Avenue Chico, CA 95926

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Retail Residence
Beds
Baths
... Bed/Bath
19,531 Sq. Ft.

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Last updated on 12/4/2024 7:41 PM
The Shops at Mangrove are located in the heart of Chico at the gateway to downtown and California State University, Chico. This is one of the city's most attractive retail centers directly across from Chipotle, Rite Aid and the Safeway anchored Park Plaza Shopping Center. This is a daily needs driv...e by location at the corner of Mangrove & Vallombrosa, with a combined traffic count of more than 35,000+ vehicles per day. Within walking distance to Chico Junior High, Chico State and Chico High School. The center is 90% leased out. The center consists of three separate buildings on two parcels. Two of the buildings at 605 Mangrove (Parcel 003-210-018) are a leasehold interest with a long term ground lease. The third building at 615 Mangrove (Parcel 003-210-019) is on a fee parcel. The ground lease has approximately 42 years of control remaining including options. The NOI has been calculated net of the annual ground lease payments. The ground lease provides for a 12% increase every five years. The leasehold interest vs fee ownership allows an investor to own a newer quality center at a higher than average cap rate compared to comparable quality assets in California. Continue reading
MLS#
SN23086931
Property Type
Retail
Year Built
2007
Square Feet
19,531 sq. ft
Lot Size
1.82

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Listed by 530-828-0011 - Michael Donnelly - Coldwell Banker C&C Properties
Barbara Lynn Simmons, CALBRE 637579, Xome Inc., CALBRE 1932600, [email protected], 844-400-XOME (9663), 2945 Townsgate Road, Suite 200, Westlake Village, CA 91361

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This content last refreshed on 12/4/2024 7:41 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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