Building Details

Building Size 2,484 SF

Year Built 1953

Buildings 1

Listing Agency: NextHome North Valley Realty

Listed By: Jacob Darr · License #01946759 Show Phone

Source: Homesbyupside

Added: Oct 19 Changed: Oct 24 Last Checked: Oct 24 at 3:17PM

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Investment Insights

Based on property information with market context.

Built in 1953, this office property is configured as two suites. The larger suite has four private offices, a utility and break room, a reception area that can function as another office, and two bathrooms. The second suite includes a reception area, one private office, and one bathroom; it is occupied by a tenant.

The building sits along 1st Avenue near the Highway 99 exit ramp. Recent property work includes resealing the parking lot, which has multiple private spaces, and bringing fiber-optic Wi-Fi directly to the building.

Key Highlights

• Two office suites, with the second suite occupied by a tenant
• Larger suite includes four private offices, a utility and break room, reception, and two bathrooms
• Second suite has a reception area, one private office, and one bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,288

Cap Rate

6.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$525,760 $525.8K

Cap Rate 7%

$375,543 $375.5K

Cap Rate 9%

$292,089 $292.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,484 SF

Gross rent

$36.7K $14.76/SF

− Vacancy

−$1.6K −$0.65/SF

EGI

$35.1K $14.11/SF

− OpEx

−$8.8K −$3.53/SF

NOI

$26.3K $10.58/SF

Area

Chico, CA

Vacancy

4.40%

Lease Rate

$14.76 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$525,760

Cap Rate 7%

$375,543

Cap Rate 9%

$292,089

Alternative Uses

Best Use

Office B

$375.5K

$328.6K – $438.1K (±1% cap)

NOI $26,288 @ 7.0% cap · market cap 6.04%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$501.5K

$438.9K – $585.1K (±1% cap)

NOI $35,108 @ 7.0% cap · market cap 8.07%

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

Property Analytics

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Current Use

Farmers Insurance Huck ... Insurance Agency Health Insurance Services Insurance Agency Hatch Braddon B Law Firm

Suggested Use

Top Pick HVAC Service Storage Facility Carpet & Flooring Store (Bike/Boat/Book/etc) Store Veterinary Clinic Bakery

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

Lease Details

2

Office units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

909

Businesses Nearby

Explore this area Business Placement

Demographics for 95926, CA

41,259

Population

18,566

Households

2.2

Avg Household Size

31

Median Age

45%

College-Educated

96%

High-School Grad

7.8 sq mi

ZIP Area

5,290

Density / Sq Mi

$62,334

Median Household Income

$27,870

Median Earnings

$1,418

Median Rent

$462,900

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Two distinct suites offer private offices, reception areas, and an existing tenant.

Where is this office building located?

The property is located at 1108 Sheridan Chico, CA.

What is the asking price?

The asking price for this property is $435,000.

What are key features of this property?

This property features: Two office suites, with the second suite occupied by a tenant; Larger suite includes four private offices, a utility and break room, reception, and two bathrooms; Second suite has a reception area, one private office, and one bathroom