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575 East Ave
Chico, CA 95926

Retail Property For Sale

Investment Highlights

  • High Visibility
  • Transit Stop
  • Walkable

Executive Summary

Presenting 575 East Avenue, a prime 4-unit retail building located on a prominent corner at the intersection of East Avenue and El Paso Way. This property boasts excellent visibility and high-traffic exposure, making it an ideal investment opportunity for those looking to establish a presence in a bustling commercial area. This key location attracts a diverse customer base and offers tenants access to a steady stream of potential customers from its high visibility location, the adjacent walkable neighborhood, and even public transit stops located across El Paso Way. Recently remodeled and currently undergoing interior improvements, this building offers a blend of modern updates and strong potential for income growth. Two of the four units are currently occupied at recently increased rents, providing immediate cash flow. The remaining two units are vacant and actively listed at market rents, offering an opportunity to further increase the property's income potential.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
2,390 SF
Building Class
C
Year Built
1954
Price
$339,000
Price Per SF
$142
Cap Rate
9.90%
NOI
$33,550
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.17
Lot Size
0.33 AC
Zoning
CC - Community Commercial
Parking
20 Spaces (8.37 Spaces per 1,000 SF Leased)
Frontage
79 FT on East Ave

Amenities

  • Bus Line
  • Corner Lot

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
007-080-062-000
Land Assessment
$105,117
Improvements Assessment
$152,420
Total Assessment
$257,537
  • Listing ID: 33676365

  • Date on Market: 10/29/2024

  • Last Updated:

  • Address: 575 East Ave, Chico, CA 95926

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