Office Building on Mangrove
For Sale
$650,000
1351 Mangrove Ave, Chico, CA 95926
5,038 SF office building suitable for owner/user.
Property Size5,038 SF
Lot Size0.23 Acres
Price / SF$129.02
Days on Market164
Property Features for 1351 Mangrove Ave
General Information
Standard status
Active
Size
5,038 SF
Lot size
0.23 Acres
Property subtype
Commercial
Building Details
Building Size
5,038 SF
Year Built
1978
Listing Agency:
Capital Rivers Commercial Inc
(530) 343-3733
Listed By:
Carrie Welch · License #01926238
(530) 343-3733
Source:
Elliman
Added: Mar 11
Changed: Aug 17
Last Checked: Aug 20 at 12:09PM
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 Inc
Investment Insights
Based on property information with market context.
The property is a 5,038 square foot office building located on Mangrove Avenue. It features approximately 75 feet of frontage and on-site parking. The building is currently configured as two suites but can be combined for single-tenant use. Suite A includes eleven private offices, a break room, storage space, and restrooms. Suite B features a reception area, eight offices, storage space, and restrooms. This property presents an opportunity for an owner/user to occupy one suite and lease the other, or to utilize the entire building.
Key Highlights
- ±5,038 SF office building with ~75’ of frontage and on‑site parking.
- Configured as two suites, offering flexibility for single or multi‑tenant use.
- Great owner/user opportunity: occupy one suite and lease the other.
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
$53,317
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
8.20%
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%
$1,066,340
$1.1M
Cap Rate 7%
$761,671
$761.7K
Cap Rate 9%
$592,411
$592.4K
Market Conditions
NOI Build-Up for 5,038 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
$74.4K $14.76/SF
− Vacancy
−$3.3K −$0.65/SF
EGI
$71.1K $14.11/SF
− OpEx
−$17.8K −$3.53/SF
NOI
$53.3K $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 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%
$1,066,340
Cap Rate 7%
$761,671
Cap Rate 9%
$592,411
Alternative Uses
Best Use
Office B
$761.7K
$666.5K – $888.6K
NOI $53,317 @ 7.0% cap · market cap 8.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$890.1K – $1.19M
NOI $71,205 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,747
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 5,038 SF office building suitable for owner/user.
Where is this office building located?
The property is located at 1351 Mangrove Ave Chico, CA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: ±5,038 SF office building with ~75’ of frontage and on‑site parking.; Configured as two suites, offering flexibility for single or multi‑tenant use.; Great owner/user opportunity: occupy one suite and lease the other.
