2.68 Acre Commercial Development

Location & Parcel: Two adjoining 2 acre lots on Richmond Road at US395 in Susanville (Lassen County), acquired for $300,000. The parcels front a hightraffic arterial near Susanville Ford and CHP office, offering excellent visibility and access. Richmond Rd is a primary gateway into town from Hwy 395, with an estimated 1,700 vehicles (cars+trucks) passing daily . Zoning & Uses: Both parcels are zoned Town Service District (C-T). C-T zoning is designed for town centers and rural communities, accommodating a mix of commercial and public uses . It allows retail, service, and convenience uses (often by right or with a use permit) that serve daily/weekly needs of the surrounding area . Notably, C-T explicitly anticipates groupings of stores provid[ing] daily and weekly convenience shopping and services . Permitted uses typically include retail, offices, repair shops, small restaurants, and the like; conditional permits cover larger or specialized uses (details in Lassens zoning code). Retail demand is supported by highway traffic and local needs; a new travelcenter planned east of town projects ~1,500 cars and 200 trucks per day , indicating strong throughtraffic on US395. Current retail supply includes a major shopping center (81,000 sf Lassen Shopping Center offered at $8.1M, 8.0% cap) and a Walgreens (14,700 sf at $4.8M, 7.5% cap) . Asking prices for Susanville retail average ~$153/sf (up to $326/sf) and cap rates around 7.58.0% . Vacancy rates are relatively low; demand exists for convenient local retail. Highest & Best Use Scenarios: Four primary strategies are feasible, given zoning and market: (1) Gas Station/Convenience Store leverage highway traffic with fuel sales plus attached cstore; (2) Automatic Car Wash standalone or adjunct use (possibly combined with fuel); (3) Multi-Tenant Retail Center a small national-brand strip center (fast food, pharmacy, etc.); and (4) NNN Lease Investment Pad Sites develop one or two pad buildings leased to credit tenants (e.g. banks, franchise restaurants) for passive income. Each scenario has trade-offs: gas stations and car washes have higher returns but require heavy capital and operating risk; NNN pad developments yield lower cap rates (~78%) but stable longterm cash flow.