Remodeled, Leased Office
110 Independence Circle, Chico, CA 37830
For Sale
Contact for pricing
Fully remodeled office suites are 100% leased with updated lighting, fresh interior finishes, and ample on-site parking.
Property Size7,436 SF
Price / SF$133.81
Days on Market207
Property Features for 110 Independence Circle
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Highway Access
Building Details
Year Built
Tenancy
Listing Agency:
Harris Commercial
Listed By:
Calen Chapman · License CA #02002193
(530) 514-3034
Source:
Crexi
Added: Apr 22
Changed: Nov 3
Last Checked: Nov 12 at 5:20AM
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 Harris Commercial
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This offering consists of remodeled office units within the Philadelphia Square professional complex. The property is 100% leased and features recently updated interiors, including all new flooring, interior and exterior paint, and updated lighting throughout.
The office suites are positioned for convenient access with direct Highway 99 entry and ample on-site parking. Current occupants include GCI Insurance Brokers and Butte Home Health, each supported by new 3- and 5-year leases. The property’s current gross income is $84,240 per year with annual increases.
The office suites are positioned for convenient access with direct Highway 99 entry and ample on-site parking. Current occupants include GCI Insurance Brokers and Butte Home Health, each supported by new 3- and 5-year leases. The property’s current gross income is $84,240 per year with annual increases.
Key Highlights
- Office property built in 1992, fully remodeled with 100% leased suites in Philadelphia Square professional complex.
- Two established tenants: GCI Insurance Brokers and Butte Home Health, with new 3- and 5‑year leases in place.
- Recent improvements include all new flooring, interior and exterior paint, and updated lighting throughout.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,466
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,729,320
$1.7M
Cap Rate 7%
$1,235,229
$1.2M
Cap Rate 9%
$960,733
$960.7K
Market Conditions
NOI Build-Up for 7,436 SF
Gross rent
$151.7K $20.40/SF
− Vacancy
−$7.6K −$1.02/SF
EGI
$144.1K $19.38/SF
− OpEx
−$57.6K −$7.75/SF
NOI
$86.5K $11.63/SF
Area
Chico, CA
Vacancy
5.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,729,320
Cap Rate 7%
$1,235,229
Cap Rate 9%
$960,733
Alternative Uses
Best Use
Healthcare Medical
$1.24M
$1.08M – $1.44M
NOI $86,466 @ 7.0% cap · market cap 8.69%
Second Best
Office B
$1.12M
$983.7K – $1.31M
NOI $78,695 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $105,097 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
Explore this area
Business Placement
Market
Properties on Market for Office Units in Chico
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Fully remodeled office suites are 100% leased with updated lighting, fresh interior finishes, and ample on-site parking.
Where is this office unit located?
The property is located at 110 Independence Circle Chico, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Office property built in 1992, fully remodeled with 100% leased suites in Philadelphia Square professional complex.; Two established tenants: GCI Insurance Brokers and Butte Home Health, with new 3- and 5‑year leases in place.; Recent improvements include all new flooring, interior and exterior paint, and updated lighting throughout.
