Building Details

Building Size 21,280 SF

Year Built 1980

Listing Agency: Commercial Brokers of California

Listed By: Brian Littrell · License #01350075 Show Phone

Source: Elliman

Added: Mar 10 Changed: Oct 10 Last Checked: Oct 24 at 4:38PM

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Investment Insights

Based on property information with market context.

This 21,280 square foot building on 1.84 acres is located at the gateway to the Chico Regional Airport. The property features unique metal architecture with a post-modern entryway and reception area. The building includes multiple offices on two floors, a large employee break room with lockers, and a highly conditioned warehouse shop area, some of which is in almost "clean room" condition. It also features a loading dock, a large fenced yard area, and a large capacity air compressor with pressurized air lines and electrical drops throughout the shop area. The property is zoned AM - Airport Manufacturing.

Key Highlights

• Gateway location to Chico Regional Airport.
• Large, highly conditioned warehouse/shop area suitable for manufacturing.
• Zoned AM - Airport Manufacturing.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$134,895

Cap Rate

7.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,697,900 $2.7M

Cap Rate 7%

$1,927,071 $1.9M

Cap Rate 9%

$1,498,833 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 21,280 SF

Gross rent

$229.8K $10.80/SF

− Vacancy

−$22.3K −$1.05/SF

EGI

$207.5K $9.75/SF

− OpEx

−$72.6K −$3.41/SF

NOI

$134.9K $6.34/SF

Area

Chico, CA

Vacancy

9.70%

Lease Rate

$10.80 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,697,900

Cap Rate 7%

$1,927,071

Cap Rate 9%

$1,498,833

Alternative Uses

Best Use

Flex RnD

$1.93M

$1.69M – $2.25M (±1% cap)

NOI $134,895 @ 7.0% cap · market cap 7.10%

Second Best

Industrial

$1.87M

$1.63M – $2.18M (±1% cap)

NOI $130,745 @ 7.0% cap · market cap 6.88%

Theoretical Best

Office A

$4.30M

$3.76M – $5.01M (±1% cap)

NOI $300,761 @ 7.0% cap · market cap 15.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Joy Signal Technology ... Department Store

Suggested Use

Top Pick Furniture & Home Goods Storage Facility Carpet & Flooring Store Catering Service Cafe & Coffee Shop Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

211

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 95973, CA

39,609

Population

15,836

Households

2.5

Avg Household Size

39

Median Age

41%

College-Educated

94%

High-School Grad

300.1 sq mi

ZIP Area

132

Density / Sq Mi

$92,228

Median Household Income

$45,897

Median Earnings

$1,546

Median Rent

$484,600

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Unique metal architecture near Chico Regional Airport, suitable for manufacturing.

Where is this flex space located?

The property is located at 1020 Marauder St Chico, CA.

What is the asking price?

The asking price for this property is $1,900,000.

What are key features of this property?

This property features: Gateway location to Chico Regional Airport.; Large, highly conditioned warehouse/shop area suitable for manufacturing.; Zoned AM - Airport Manufacturing.