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    Downtown Storefront Suites and Studio Title is generated by Realmo AI

    121 Salem St & 120-122 Broadway Street, Chico, CA 95928

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    Downtown Chico storefront suites and studio space for lease.

    Type:Retail
    Property size:
    2,000 SF
    Added:
    May 9, 2026
    Days on Market:
    19
    Last Refresh:
    May 14 at 8:41 pm

    Property Features for 121 Salem St & 120-122 Broadway Street

    General Information

    Standard status
    Active
    Size
    2,000 SF
    Property subtype
    Retail

    Spaces For Lease

    at 121 Salem St & 120-122 Broadway Street Contact us

    We can help!

    Listing Contact
    Carrie Welch
    Carrie Welch

    Listing agent Carrie Welch License #01926238

    Listing office Capital Rivers Commercial

    Listing date May 9, 2026

    Source Crexi

    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 Capital Rivers Commercial

    HighLights

    • Prime downtown Chico location with high pedestrian traffic, near shopping, dining, and entertainment.
    • Two ±1,100 SF storefront suites with large windows, exposed brick, and skylights.
    • ±2,000 SF studio space with flexible open layout and mezzanine level.
    • Updated interiors blend historic charm with modern functionality.
    • Suite 120 features a rear office and private restroom.
    • Freshly painted interiors with storage room and private restroom in the studio space.

    Overview

    Located in Downtown Chico, the property at 120–122 Broadway Street offers two suites of approximately 1,100 square feet each. These downtown storefront suites feature large storefront windows, exposed brick walls, and skylights that provide natural light. The updated interiors maintain the building’s historic charm while offering flexible layouts suitable for retail, creative, or studio users. Suite 120 includes a rear office and a private restroom. Additionally, 121 Salem Street provides an approximately 2,000 square foot studio-style space at the rear of the building. This space features a flexible open layout and a mezzanine level, adding usable area and character. The freshly painted interior includes a storage room and a private restroom, making it suitable for creative users, experiential retail, or personal service businesses seeking a unique open canvas. The property is located near shopping, dining, entertainment, and other local businesses, with strong pedestrian activity and convenient access throughout the downtown corridor.
    Location Intelligence

    Current Use by Public Records

    Thai Basil Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Chico Gifts Flowers & Balloons — 304 W 5th St, Chico, CA 95928
    • Camellia Florist & Flower Delivery Chico CA — 352 Camellia Way, Chico, CA 95928
    • Bloose Flower Delivery Chico CA — 752 Buttonwillow Ln, Chico, CA 95926

    Location Insight

    • Map
    • Local Demand
    City
    Chico
    County
    Butte
    State
    California
    Longitude
    -121.8414987
    Latitude
    39.7303526

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    FAQs

    What type of property is this?
    Storefront property - Downtown Chico storefront suites and studio space for lease.
    Where is this storefront property located?
    The property is located at 121 Salem St & 120-122 Broadway Street Chico, CA.
    What are key features of this property?
    This property features: Prime downtown Chico location with high pedestrian traffic, near shopping, dining, and entertainment.; Two ±1,100 SF storefront suites with large windows, exposed brick, and skylights.; ±2,000 SF studio space with flexible open layout and mezzanine level.
    (916) 804-8046 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Carrie Welch
    Carrie Welch
    Real Estate License ID: 01926238
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    121 Salem St & 120-122 Broadway Street, Chico, CA 95928
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