Online Auction Sale
Absolute Net Leased La-Z-Boy near California State University
2315 Esplanade Chico, CA 95926
19,457 SF | 100% Leased | Retail Building
Auction On December 16 - 18, 2024 | Starting Bid $900,000
INCREDIBLE RETURN OPPORTUNITY
Call Mason for details!
PROPERTY HIGHLIGHTS:
Building Size: 19,457.
Lot Size: 30,056.
Remaining Lease Term: 3 years.
Lease Bumps: 3%.
Lease Expiration: December 31, 2027.
Year Built: 1955.
Parking: 18 spaces.
Zoning: CC
NET OPERATING INCOME (NOI):
$262,947
PROPERTY OVERVIEW:
The Mason Canter Group at KW Commercial Los Angeles is pleased to offer a Net Lease sale investment in Chico, California. A short drive from Chico's thriving downtown district and California State University, Chico (with 14,000 students), La-Z-Boy Furniture Galleries is owned and operated by the largest Northern California La-Z-Boy franchisee, Northern California Chair Corp. The company was founded in 1982. The Chico location has a long track record of furniture sales and has been branded as a La-Z-Boy since 1996.
Tenant responsible for CAM, Insurance & Property Taxes (Taxes Capped at $21,672).
La-Z-Boy Incorporated, established in 1927, is one of the world’s leading residential furniture producers, marketing furniture for every room of the home. The company’s branded distribution network is dedicated to selling La-Z-Boy Incorporated products and brands, which include 355 stand-alone La-Z-Boy Furniture Galleries® stores and 561 independent Comfort Studio® locations.
The company's revenue exceeds $1.7 Billion.
Mason Canter
310-704-2434 mason@masoncanter.com
CA #01797960
