Garden Walk Mall | 225 Main St
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Garden Walk Mall 225 Main St
23,444 SF 100% Leased Retail Building Chico, CA 95928 $3,500,000 ($149/SF)
Investment Highlights
- LOCATED STEPS FROM CALIFORNIA STATE UNIVERSITY, CHICO (CSUC)
- HEAVY FOOT TRAFFIC
- ADJACENT TO THE LARGE MUNICIPAL PARKING LOT
- SITUATED IN THE CORE OF DOWNTOWN CHICO
- FRONTAGE ONTO MAIN AND WALL STREETS
- LARGE CLEAR SPACE CONSTRUCTION
Executive Summary
Located in the absolute core of Downtown Chico just steps from California State University, Chico, the subject property fronts onto Main Street between 2nd & 3rd Streets and runs all the way through the city block to Wall Street where the large municipal parking lot is located. This mixed-use building is currently configured as a well known walkable indoor mall with 20 leasable units consisting of various retail, personal services, restaurants, and office space.
Known as The Garden Walk Mall, the property offers an opportunity to continue with and improve upon the exiting layout and tenancy model or redevelop into a more traditional retail building able to accommodate tenants up to 23,450 SF. The footprint of the ground floor is approximately 16,950 square feet with a 2nd floor of approximately 6,500 square feet. The front 10,000 square feet is open clear-span arched wood truss construction and the rear 6,500 square foot, two-story section is CMU block with steel support columns.
The property is zoned DN (Downtown North) which accommodates many various uses including a wide range of retail, personal service, educational, cultural, and recreational uses, with office and residential uses above the ground floor. Allowable building height is 85’ and traffic counts on Main Street are approximately 15,000 ADT with huge pedestrian counts supported by the 15,000+ students enrolled at CSU, Chico just two blocks away. The location offers the ability to have two main entrances to the property with one fronting onto Main Street as well as a 2nd entrance fronting the large municipal parking lot on Wall Street. Large signage is available on both the Main Street and Wall Street entrances, and there is street parking directly in front of the building on both sides.
Known as The Garden Walk Mall, the property offers an opportunity to continue with and improve upon the exiting layout and tenancy model or redevelop into a more traditional retail building able to accommodate tenants up to 23,450 SF. The footprint of the ground floor is approximately 16,950 square feet with a 2nd floor of approximately 6,500 square feet. The front 10,000 square feet is open clear-span arched wood truss construction and the rear 6,500 square foot, two-story section is CMU block with steel support columns.
The property is zoned DN (Downtown North) which accommodates many various uses including a wide range of retail, personal service, educational, cultural, and recreational uses, with office and residential uses above the ground floor. Allowable building height is 85’ and traffic counts on Main Street are approximately 15,000 ADT with huge pedestrian counts supported by the 15,000+ students enrolled at CSU, Chico just two blocks away. The location offers the ability to have two main entrances to the property with one fronting onto Main Street as well as a 2nd entrance fronting the large municipal parking lot on Wall Street. Large signage is available on both the Main Street and Wall Street entrances, and there is street parking directly in front of the building on both sides.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
23,444 SF
Building Class
B
Year Built/Renovated
1965/1979
Price
$3,500,000
Price Per SF
$149
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.38
Land Acres
0.39 AC
Opportunity Zone
Yes
Zoning
DN - Allowable uses include a multitude of retail, personal services, restaurant, educational, cultural and recreational uses.
Amenities
- Signage
Walk Score ®
Walker's Paradise (94)
Bike Score ®
Very Bikeable (84)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 004-082-014-000 | Improvements Assessment | $850,000 |
Land Assessment | $550,000 | Total Assessment | $1,400,000 |
PROPERTY TAXES
Parcel Number
004-082-014-000
Land Assessment
$550,000
Improvements Assessment
$850,000
Total Assessment
$1,400,000
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Garden Walk Mall | 225 Main St
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