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(626) 893-2817
Gilbert Garcia
1355 Washington, Oroville, CA 95965
- $615,000
- List Price
- $615,000
- Status
- ACTIVE
- MLS#
- SN26231683
- Year Built
- 1984
- Lot Size
- 8,276
- Acres
- 0.19
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 5
- Property Type
- Commercial
- Property Sub Type
- Mixed Use
Property Description
1355 Washington Avenue is a net-leased drive-thru restaurant offered at $615,000, an 8.21% cap rate. The 1,495 SF single-story building was built in 2018 on a ±0.19-acre (8,276 SF) corner lot zoned NC (Neighborhood Commercial). It sits at a busy roundabout off Montgomery Street, near downtown Oroville. The building has a wrap-around drive-thru lane with a pickup window and a commercial kitchen with hood and Ansul fire suppression. It also has a walk-in cooler and central heat and air. It is leased to The Lamb and The Wolf on a new three-year lease through April 15, 2029. Rent is $4,500 a month plus $800 a month in CAM, for $63,600 in gross annual income and $50,496 in net operating income. With a newer building, a lease in place and a flood-safe FEMA Zone X site, it’s an easy-to-own income property for investors and 1031 exchange buyers.
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Additional Information
- Heat
- Central
- Attached Structure
- Detached
Listing courtesy of Listing Agent: Sylvanna Steveson (commercial@vannacre.com) from Listing Office: 1st Choice Realty & Associates Inc.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.