3240 E Bidwell St | Folsom, CA 95630
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3240 E Bidwell St
Folsom, CA 95630
Chevron · Retail Property For Sale
Investment Highlights
- New 20-year absolute NNN ground lease with 10% rental increases every five years
- Guaranteed by investment-grade tenant Chevron U.S.A. Inc., rated “AA-“ by Standard & Poors
- Chevron ranked 10th on the Fortune 500 in 2023
- Two (2) option periods of five (5) years each and a third option period of 4 years and 11 months, providing a passive long-term income generator
- Chevron Corporation (NYSE: “CVX”) is one of the largest companies in the world and the second largest oil company based in the US by revenue
Executive Summary
This Chevron is located just off State Route 50 (115,500 AADT), at the signalized intersection of Alder Creek Parkway and East Bidwell Street with access to more than 43,000 vehicles passing directly in front of the site. This Chevron is located just off State Route 50 (115,500 AADT), at the signalized intersection of Alder Creek Parkway and East Bidwell Street with access to more than 43,000 vehicles passing directly in front of the site. The site is surrounded by major traffic drivers such as UC Davis Health and Dignity Health (combined estimated ±4,500 employees) and Alder Creek Marketplace (anchored by a national grocer). This Chevron is located across the street from residential communities, including Rockress at Folsom Ranch, Oakwood at Folsom Ranch, Broadstone Estates, and Russell Ranch. 118,147 residents live within 5 miles of the site, creating a stable customer base for the site. The average annual household income within a 1-mile radius of this Chevron is $282,028. Since the 2010 U.S. Census, the population within a 1-mile radius of the site has increased more than ten-fold, and Folsom’s population increase stands to be more than triple the rate of growth seen across the Sacramento region
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
4,000 SF
Building Class
B
Year Built
2024
Price
£3,408,780
Price Per SF
£852
Net Initial Yield
4.35%
NOI
£148,278
Tenancy
Single
Number of Floors
1
Building FAR
0.07
Lot Size
1.29 AC
Parking
18 Spaces (4.5 Spaces per 1,000 SF Leased)
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