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422 Otterson Dr

37,980 SF 100% Leased Industrial Building Chico, CA 95928 £3,148,110 (£83/SF)

Investment Highlights

  • Strong National Tenant - Solid Investment Property
  • Quality Concrete Tilt Up Construction
  • Solar Power
  • Excellent NOI
  • 8 Roll Up Doors - 4 Loading Docks
  • Desirable Hegan Lane Business Park Location

Executive Summary

Solid industrial Net Income investment Property (NNN) fully leased. Modern 37,200 sq. ft. concrete tilt up building in desirable Hegan Lane Industrial Park. Leased by a long time respected national tenant offering an investor an attractive Net Income Return/CAP Rate. Tenant pays all Operating Expenses except insurance. Fully served by solar power for added value, and a newer roof (approximately 10 years old). The building has four Dock High and two grade level roll up doors on the north side (10 feet high) and two grade level doors on the south side (14 feet high) for a total of eight roll up doors. Ceiling height is 23 feet high. Two story modular conditioned offices in the front including break rooms and conference room and conditioned offices in the far back of the warehouse. The tenant is a major national door machinery manufacturing company headquartered in Ohio with facilities in California and North Carolina.

Property Facts

Price £3,148,110
Price Per SF £83
Sale Type Investment NNN
Property Type Industrial
Property Subtype Service
Building Class B
Lot Size 3.64 AC
Rentable Building Area 37,980 SF
Number of Floors 1
Year Built 1991
Parking Ratio 1.84/1,000 SF
Clear Ceiling Height 23 ft
No. Dock-High Doors/Loading 4
Level Access Doors 4
Opportunity Zone Yes

Utilities

  • Lighting

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
039-620-009-000
Land Assessment
£440,072
Improvements Assessment
£1,264,766
Total Assessment
£1,704,838
  • Listing ID: 33156069

  • Date on Market: 12/09/2024

  • Last Updated:

  • Address: 422 Otterson Dr, Chico, CA 95928

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