Victorian Mixed-Use
For Sale
$525,000
121 W 1st, Chico, CA 95926
Chico, CA
Property Size1,946 SF
Lot Size0.13 Acres
Price / SF$269.78
Days on Market11
Property Features for 121 W 1st
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 2, Laundry Room, Bedroom 3, Basement, Bedroom 5, Bathroom 1, Bedroom 1, Kitchen
Patio and Porch features
Porch, Deck
Fireplace
1
Lot features
Level with Street
Elementary school district
Chico Unified
Middle school district
Chico Unified
High school district
Chico Unified
Directions
Mangrove or Esplanade to 1st Avenue
Standard status
Active
APN
003096004000
Size
1,946 SF
Lot size
0.13 Acres
Utilities
Sewer type
Public Sewer
Heating system
Fireplace(s), Central, Ductless (Heating)
Cooling system
Ductless, Central Air
Water source
Public
Building Details
Year built
1905
Floors in Building
2
Number of units
1
Flooring type
Tile, Laminate, Carpet
Roof type
Composition
Architectural style
Victorian
Listing Agency:
Platinum Partners Real Estate
(530) 228-2550
Listed By:
Marisa Bauer · License #01418223
(530) 570-5507
Added: Sep 22
Changed: Sep 28
Last Checked: Oct 2 at 11:06AM
MLS# SN26209670
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1905, this 1,946-square-foot Victorian property occupies a 0.13-acre parcel. The interior includes five bedrooms, two bathrooms, a kitchen, laundry room and basement. Tile, laminate and carpet flooring are complemented by central and ductless heating and cooling, with recent HVAC and mini-split updates. A porch and deck provide additional exterior features.
The property is near Chico State and has commercial and residential zoning. Public water and sewer serve the site.
The property is near Chico State and has commercial and residential zoning. Public water and sewer serve the site.
Key Highlights
- 1,946‑square‑foot building on a 0.13‑acre parcel
- Built in 1905 with Victorian architectural style
- Commercial and residential zoning
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
$21,951
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
4.18%
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%
$439,020
$439.0K
Cap Rate 7%
$313,586
$313.6K
Cap Rate 9%
$243,900
$243.9K
Market Conditions
NOI Build-Up for 1,946 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
$37.4K $19.20/SF
− Vacancy
−$2.2K −$1.15/SF
EGI
$35.1K $18.05/SF
− OpEx
−$13.2K −$6.77/SF
NOI
$22.0K $11.28/SF
Area
Chico, CA
Vacancy
6.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
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%
$439,020
Cap Rate 7%
$313,586
Cap Rate 9%
$243,900
Alternative Uses
Best Use
Mixed Use
$313.6K
$274.4K – $365.9K
NOI $21,951 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$392.9K
$343.8K – $458.4K
NOI $27,504 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,083
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated bathrooms and updated heating and cooling accompany commercial and residential zoning.
Where is this mixed-use property located?
The property is located at 121 W 1st Chico, CA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,946‑square‑foot building on a 0.13‑acre parcel; Built in 1905 with Victorian architectural style; Commercial and residential zoning
