Leased Multi-Tenant Shopping
For Sale
$795,000
351 E 6th St, Chico, CA 95928
Fully occupied center with established food, entertainment, personal-service, and specialty-retail tenants.
Property Size5,515 SF
Price / SF$144.15
Days on Market39
Property Features for 351 E 6th St
General Information
Standard status
Active
Size
5,515 SF
Occupancy
100%
Additional Details
Corner Location
Yes
Amenities
dedicated on-site parking
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Harris Commercial Real Estate
Listed By:
Brandon Harris · License #01318261
(530) 419-1600
Source:
Myfabuloushome
Added: Aug 7
Changed: Sep 8
Last Checked: Sep 13 at 1:44PM
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 Real Estate
Investment Insights
Based on property information with market context.
This multi-tenant commercial property comprises 351, 361, 363, and 365 E. 6th Street and is fully leased. The tenant mix includes Pageant Theatre, Tender Loving Coffee House, Ultra Beautician, and Sixth Street Secondhand, representing entertainment, food and beverage, personal services, and specialty retail. Several occupants have operated at the property for decades. Recent work includes roof replacement, exterior painting, and ADA improvements to interior and exterior areas.
The property occupies a prominent hard corner near Downtown Chico within an established, highly walkable neighborhood surrounded by dense residential development. Its setting provides access to downtown dining and entertainment activity, daytime employment, and the student population, while also serving nearby residents. Dedicated on-site parking and both pedestrian and vehicle traffic support the existing commercial operation.
The property occupies a prominent hard corner near Downtown Chico within an established, highly walkable neighborhood surrounded by dense residential development. Its setting provides access to downtown dining and entertainment activity, daytime employment, and the student population, while also serving nearby residents. Dedicated on-site parking and both pedestrian and vehicle traffic support the existing commercial operation.
Key Highlights
- 100% leased multi‑tenant commercial property
- 351, 361, 363 and 365 E. 6th Street
- Tenant mix includes theater, coffee house, personal services and specialty retail
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
$73,094
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
9.19%
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%
$1,461,880
$1.5M
Cap Rate 7%
$1,044,200
$1.0M
Cap Rate 9%
$812,156
$812.2K
Market Conditions
NOI Build-Up for 5,515 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
$103.2K $18.72/SF
− Vacancy
−$5.8K −$1.05/SF
EGI
$97.5K $17.67/SF
− OpEx
−$24.4K −$4.42/SF
NOI
$73.1K $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%
$1,461,880
Cap Rate 7%
$1,044,200
Cap Rate 9%
$812,156
Alternative Uses
Best Use
Specialty Retail
$1.04M
$913.7K – $1.22M
NOI $73,094 @ 7.0% cap · market cap 9.19%
Second Best
Retail
$974.6K
$852.8K – $1.14M
NOI $68,222 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$1.11M
$974.3K – $1.30M
NOI $77,946 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,980
Businesses Nearby
Well-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - Fully occupied center with established food, entertainment, personal-service, and specialty-retail tenants.
Where is this shopping center located?
The property is located at 351 E 6th St Chico, CA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 100% leased multi‑tenant commercial property; 351, 361, 363 and 365 E. 6th Street; Tenant mix includes theater, coffee house, personal services and specialty retail
