Iconic Airport Manufacturing
For Sale
$1,900,000
Pending
1020 Marauder Street, Chico, CA 95973
Unique industrial building near Chico Regional Airport available for sale.
Property Size21,280 SF
Lot Size1.84 Acres
Days on Market271
Property Features for 1020 Marauder Street
General Information
Standard status
Pending
Size
21,280 SF
Lot size
1.84 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1980
Listing Agency:
Commercial Brokers of California
(530) 828-0011
Listed By:
Michael Donnelly · License #01429436
(530) 828-0011
Source:
Exitrealty
Added: Nov 26, 2025
Changed: Aug 23
Last Checked: Aug 24 at 3:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Commercial Brokers of California
Investment Insights
Based on property information with market context.
This iconic building 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 building has a total area of 21,280 square feet and is situated on a 1.84-acre lot. The property is zoned AM - Airport Manufacturing, making it suitable for various manufacturing and industrial uses.
Key Highlights
- Gateway location to Chico Regional Airport with AM - Airport Manufacturing zoning.
- Unique metal architecture and iconic Joy Signal building.
- Highly conditioned warehouse/shop area, some in "clean room" condition.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$148,961
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,979,220
$3.0M
Cap Rate 7%
$2,128,014
$2.1M
Cap Rate 9%
$1,655,122
$1.7M
Market Conditions
NOI Build-Up for 21,280 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$194.1K $9.12/SF
− Vacancy
−$18.8K −$0.88/SF
EGI
$175.2K $8.24/SF
− OpEx
−$26.3K −$1.24/SF
NOI
$149.0K $7.00/SF
Area
Chico, CA
Vacancy
9.70%
Lease Rate
$9.12 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,979,220
Cap Rate 7%
$2,128,014
Cap Rate 9%
$1,655,122
Alternative Uses
Best Use
Warehouse
$2.13M
$1.86M – $2.48M
NOI $148,961 @ 7.0% cap · market cap 7.84%
Second Best
Industrial
$1.87M
$1.63M – $2.18M
NOI $130,745 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$4.30M
$3.76M – $5.01M
NOI $300,761 @ 7.0% cap · market cap 15.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Unique industrial building near Chico Regional Airport available for sale.
Where is this manufacturing property located?
The property is located at 1020 Marauder Street 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 with AM - Airport Manufacturing zoning.; Unique metal architecture and iconic Joy Signal building.; Highly conditioned warehouse/shop area, some in "clean room" condition.
