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    Chico Office with Residential Potential Title is generated by Realmo AI

    1339 Esplanade, Chico, CA 95926

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    For Sale
    $800,000

    Commercial Sale - Chico, CA

    Property size:
    2,618 SF
    Price / SF:
    $305/SF
    Added:
    Apr 22, 2026
    Days on Market:
    48
    Last Refresh:
    Jun 8 at 7:06 am

    Property Features for 1339 Esplanade

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    003034007000
    Size
    2,618 SF

    Building Details

    Year built
    1895
    Architectural style
    Other

    We can help!

    Listing Contact
    Robin Fox

    Listing agent Robin Fox License #00961495

    Listing office eXp Realty of California, Inc. 2603 Camino Ramon, San Ramon, CA

    Listing date Apr 22, 2026

    MLS# SN26087116 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Zoning allows for office or residential use (OR), offering flexibility.
    • Duplex potential with separate PG&E meters and heating units for each floor.
    • High‑traffic location on Esplanade, close to Chico High School, Downtown Chico, and Enloe Hospital.
    • Victorian architecture with recent exterior paint (June 2019) and chimney repair.
    • Not listed on the Historic role, providing greater modification flexibility.
    • Upper floor includes a small kitchen area and half bath.

    Overview

    This Victorian-style building, currently configured as an office, offers potential for conversion back to residential use. Originally built in 1895 and updated around 1950, the property was converted to an office with ARB approval in 1983, with permits obtained in 1984. The exterior was repainted in June 2019, and the chimney was recently repaired. The property is not currently listed on the Historic Role, providing flexibility for modifications. The office can function as a duplex, featuring separate PG&E meters for the upper and lower units, along with two forced heating units on natural gas and forced air for each floor. The top floor includes a small kitchen area and a half bath, while the downstairs has a half bath and a non-functional area that previously contained a shower. The property has a small basement for storage. Approximate room dimensions include an entry of 5 x 11, downstairs areas of 14 x 19 and 14 x 13, offices of 13 x 15 and 15 x 15 with an added 10 x 10 room, and upstairs areas of 14 x 15 with an added 7 x 8 area at the top of the stairs, plus additional offices of 12 x 14, 10 x 14, and 10 x 10. The current zoning is OR (Office and Residential), requiring a use permit for conversion back to residential use. The property is located on Esplanade, benefiting from high traffic and proximity to Chico High School, Downtown Chico, and Enloe Hospital. The property size is 2618 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    SCRAM of California Social Service Agency VanDervoort Dulebohn & Holley Law Firm The Law Office of Geoff ... Law Firm Mc Nally Miriam ... Law Firm The Law Office of Joe ... Law Firm

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chico
    County
    Butte
    State
    California
    Longitude
    -121.8480222
    Latitude
    39.7403469

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    FAQs

    What type of property is this?
    Office units - Victorian office near downtown, hospital, and Chico High School.
    Where is this office units located?
    The property is located at 1339 Esplanade Chico, CA.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: Zoning allows for office or residential use (OR), offering flexibility.; Duplex potential with separate PG&E meters and heating units for each floor.; High‑traffic location on Esplanade, close to Chico High School, Downtown Chico, and Enloe Hospital.
    (530) 520-9600
    We can help!
    Listing Contact
    Robin Fox
    Real Estate License ID: 00961495
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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