Historic Flex Property with
For Sale
$879,000
1078 Humboldt, Chico, CA 95928
Two-building flex compound combines retail café, warehouse and office space, plus a garden apartment with private outdoor areas.
Property Size3,232 SF
Days on Market80
Property Features for 1078 Humboldt
General Information
Standard status
Active
Size
3,232 SF
Property subtype
Industrial
Additional Details
Heavy Power
Yes
Multifamily Units
1
Building Details
Building Size
3,232 SF
Year Built
1900
Year Renovated
2005
Units
4
Tenancy
Multi
Listing Agency:
Century 21 Select Real Estate Inc
(530) 354-6618
Listed By:
Cara Pearce · License #01952290
(530) 354-6618
Source:
Elliman
Added: Jun 3
Changed: Aug 14
Last Checked: Aug 20 at 7:20AM
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 Century 21 Select Real Estate Inc
Investment Insights
Based on property information with market context.
This restored historic flex compound includes two buildings with a mix of retail, warehouse, office, and residential use. The smaller building is configured as a retail café and bakery with a baker’s kitchen, outdoor patio, parking, and utilities. The outdoor patio is private and designed for potential future enclosure to expand the café. The larger building offers approximately 1,600 sq. ft. of commercial warehouse space with epoxy covered wood flooring and an additional approximately 400 sq. ft. of finished office space with HVAC and a retail entrance. A usable finished basement of about 800 sq. ft. provides additional storage. Both buildings are supported by 220/240-amp, 3-phase power, and the warehouse has a 2-inch gas line for commercial usage. At the end of the warehouse is a two-bedroom garden apartment with new HVAC, plus a private entrance, private patio, and backyard.
The property is located adjacent to Little Chico Creek on Humboldt Avenue, with a riparian setting. The compound was restored to its current form in 2005, with upgrades that included new sewer lines, plumbing, electrical, patios, ingress and egress, parking, windows, stucco, sidewalks, and city lights installed to 2005 requirements.
For tenants, buyers, or operators, the layout supports multi-use occupancy across retail, light industrial/storage, and office space, with on-site residential functionality also available. The property is presented as fully leased, which may appeal to buyers seeking an income-producing combination of uses within a renovated, turn-key setting.
The property is located adjacent to Little Chico Creek on Humboldt Avenue, with a riparian setting. The compound was restored to its current form in 2005, with upgrades that included new sewer lines, plumbing, electrical, patios, ingress and egress, parking, windows, stucco, sidewalks, and city lights installed to 2005 requirements.
For tenants, buyers, or operators, the layout supports multi-use occupancy across retail, light industrial/storage, and office space, with on-site residential functionality also available. The property is presented as fully leased, which may appeal to buyers seeking an income-producing combination of uses within a renovated, turn-key setting.
Key Highlights
- Two‑building flex compound in Chico, CA, adjacent to Little Chico Creek on Humboldt Avenue
- Retail café and bakery building includes baker’s kitchen, outdoor patio, parking, and utilities
- Smaller building patio is set up for future conversion to an enclosed café expansion
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
$42,836
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
4.87%
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%
$856,720
$856.7K
Cap Rate 7%
$611,943
$611.9K
Cap Rate 9%
$475,956
$476.0K
Market Conditions
NOI Build-Up for 3,232 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
$60.5K $18.72/SF
− Vacancy
−$3.4K −$1.05/SF
EGI
$57.1K $17.67/SF
− OpEx
−$14.3K −$4.42/SF
NOI
$42.8K $13.25/SF
Area
Chico, CA
Vacancy
5.60%
Lease Rate
$18.72 /SF/Yr
Expense Ratio
25.00%
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%
$856,720
Cap Rate 7%
$611,943
Cap Rate 9%
$475,956
Alternative Uses
Best Use
Specialty Retail
$611.9K
$535.5K – $713.9K
NOI $42,836 @ 7.0% cap · market cap 4.87%
Second Best
Warehouse
$323.2K
$282.8K – $377.1K
NOI $22,624 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$652.6K
$571.0K – $761.3K
NOI $45,679 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
632
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95928, CA
38,378
Population
17,455
Households
2.2
Avg Household Size
35
Median Age
41%
College-Educated
90%
High-School Grad
145.4 sq mi
ZIP Area
264
Density / Sq Mi
$65,350
Median Household Income
$32,615
Median Earnings
$1,419
Median Rent
$476,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Wander — 265 Humboldt Ave, Chico, CA 95926
- This Is How I Roll — 234 W 14th St, Chico, CA 95928
Frequently Asked Questions
What type of property is this?
Flex space - Two-building flex compound combines retail café, warehouse and office space, plus a garden apartment with private outdoor areas.
Where is this flex space located?
The property is located at 1078 Humboldt Chico, CA.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Two‑building flex compound in Chico, CA, adjacent to Little Chico Creek on Humboldt Avenue; Retail café and bakery building includes baker’s kitchen, outdoor patio, parking, and utilities; Smaller building patio is set up for future conversion to an enclosed café expansion
