$3,699,000
For Sale

605 Mangrove Avenue

Chico, CA 95926
1.82 acres | #SN23086931
Listing OfficeColdwell Banker C&C Properties
Browse 10 photos
Type:Purchase
Structure:Retail
Zone:Commercial

Description

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 drive 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.

  • Property Details
      • Lot DescriptionStreetLevel
      • Original List Price$3,990,000
      • MLS #SN23086931
      • MLS #SN23086931
      • Property TypePurchase
      • Cost3699000
      • Utility SourcePublic
      • Property SubtypeRetail
      • CountyButte
      • Acres1.82
      • Year Built2007
      • Stories1

Location

Cristina Arneson-CabreraReal Estate Group
$
years

Down Payment

$
%
10.0%

Interest Rate

%
6.0%

Tax Rate

%
2.6%
$
$
annually
$
monthly

Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

Estimated Monthly Payment
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Loan Amount
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