Listed by Matthews
$1,487,815
Black Bear Diner
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 3,959
Cap Rate 6.50%
NOI $96,708
Tenancy Single
Brand/Tenant Black Bear Diner
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 04/30/2030
Remaining Term 4
Lease Options 3,5 Year Options
Price per SqFt $376
Year Built 1989
Year Renovated 2015
Buildings 1
Stories 1
Acreage 0.740
Lease Commencement 04/20/2015
Ownership Fee Simple
Absolute NNN Lease Structure | Low Rent | Healthy Rent To Sales
Investment highlights
- Absolute NNN Lease Structure: The tenant is fully responsible for all operating expenses, including taxes, insurance, roof, and structure, delivering a truly passive, management-free investment. Ideal for 1031 exchange buyers seeking hands-off income.
- Exceptional Rent Coverage: 4.86% Rent-to-Gross Sales: This location achieves the "Gold Standard" in rent coverage, providing a superior financial cushion to absorb market fluctuations and rising operational costs. This translates into a robust 5.30% Rent-to-Net Sales ratio, offering investors "fortress-level" rent coverage and ensuring long-term security.
- Guaranteed by Elite Diners, LLC: The lease is backed by Elite Diners, LLC, an experienced multi-unit Black Bear Diner franchise operating ±18 locations. The location is Elite Diners, LLC first location. Multi-unit operators provide meaningfully stronger credit than single-unit tenants, supporting lease obligations across their portfolio.
- 11% Bumps at Each Option Period: Each of the three 5-year renewal options carries an 11% rental increase, providing significant NOI growth and inflation protection. By Option 3, NOI escalates to over $132,000 annually, a 37% increase from today’s base rent.
- National Brand in Strong Trade Area: Black Bear Diner is a beloved family dining concept with 160+ locations across the western U.S. The Woodland, CA location benefits from proximity to Sacramento, UC Davis, and regional employment drivers along the city’s primary commercial corridor.
- Fee Simple Land & Building Ownership: The investor acquires fee simple ownership of the land and building, no ground lease risk. The ±0.74-acre site on E Main Street offers long-term land value retention and future optionality in a supply-constrained California market.
- Dense National Retail Corridor: The subject property is surrounded by a strong lineup of national retailers, including McDonald’s, Carl’s Jr., Starbucks, Taco Bell, Sonic, Denny’s, Chevron, Walmart Supercenter, The Home Depot, Food 4 Less, Dollar Tree, and Quality Inn, providing consistent daily traffic and consumer draw. The immediate trade area is further supported by major brands such as Target, Ross, Five Below, Harbor Freight, Grocery Outlet, Sprouts Farmers Market, Chipotle, and Tractor Supply Co., creating a dense retail corridor that drives sustained foot traffic and long-term demand.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$96,708.00
$8,059.00/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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