19,531
Sq. Ft.
1.82
Acre Lot
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, RiteAid 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 605Mangrove (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 ofcontrol 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 ownershipallows an investor to own a newer quality center at a higher than average cap rate compared to comparable quality assets in California.
SN23086931
Commercial - Retail, Business Opportunities, 1 Story
2007
Butte
1.82
Acres
Public
1
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The scores below measure the walkability of the address, access to public transit of the area and the convenience of using a bike on a scale of 1-100
Walk Score
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Bike Score
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Courtesy: Michael Donnelly, Coldwell Banker C&C Properties
Agent Cell Phone: 530-896-3126
Agent License: 01429436
Office License: 01198431
Office Phone: 530-895-1545