Flexible Office Building with
For Sale
$650,000
1351 Mangrove Avenue, Chico, CA 95926
Flexible office building with on-site parking, frontage, and visibility near Hwy 99 and downtown Chico.
Property Size5,038 SF
Price / SF$129.02
Days on Market357
Property Features for 1351 Mangrove Avenue
General Information
Standard status
Active
Size
5,038 SF
Property subtype
Commercial/Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
2
Building Details
Year Built
1978
Buildings
1
Building Size
5,038 SF
Listing Agency:
Capital Rivers Commercial Inc
(916) 804-8046
Listed By:
Carrie Welch · License #01926238
(530) 570-5107
Source:
Exitrealty
Added: Oct 11, 2025
Changed: Sep 10
Last Checked: Sep 15 at 4:49AM
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.
1351 Mangrove Ave in Chico, CA is a flexible office building offering frontage, parking, and visibility for office users. The property totals approximately 5,038 SF and is configured as two suites or available for single-tenant use.
On-site parking is available for employees, clients, and visitors. The location provides convenient access to Hwy 99 and proximity to downtown Chico and nearby neighborhoods, supporting a range of office requirements.
The building’s flexible suite configuration can support office tenants seeking either separate occupancy or a consolidated single-tenant footprint, with parking onsite to serve day-to-day business needs.
On-site parking is available for employees, clients, and visitors. The location provides convenient access to Hwy 99 and proximity to downtown Chico and nearby neighborhoods, supporting a range of office requirements.
The building’s flexible suite configuration can support office tenants seeking either separate occupancy or a consolidated single-tenant footprint, with parking onsite to serve day-to-day business needs.
Key Highlights
- Approximately 5,038 SF office building with two suites or single‑tenant use
- Frontage and visibility for office users at 1351 Mangrove Ave
- On‑site parking for employees, clients, and visitors
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
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Open Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office building with on-site parking, frontage, and visibility near Hwy 99 and downtown Chico.
Where is this office building located?
The property is located at 1351 Mangrove Avenue 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: Approximately 5,038 SF office building with two suites or single‑tenant use; Frontage and visibility for office users at 1351 Mangrove Ave; On‑site parking for employees, clients, and visitors
