422 Otterson Drive, Chico, CA

Industrial for Sale - $3,990,000


Agent Info

Mike Donnelly
Coldwell Banker C&C Properties

Property Info

CIMLS#1165178
Location
  422 Otterson Drive
  Chico CA 95928
UpdatedNovember 20th, 2024
TypeIndustrial
Price$3,990,000

Property Description

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.


Financials


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