Three-Building Mixed-Use
For Sale
$1,250,000
1361 Esplanade, Chico, CA 95926
Three buildings on one parcel combine office layouts, residential-style features, and flexible workspace configurations.
Property Size5,852 SF
Days on Market8
Property Features for 1361 Esplanade
General Information
Standard status
Active
Size
5,852 SF
Property subtype
Multi Family
Additional Details
Road Access
Yes
Building Details
Building Size
5,852 SF
Year Built
1910
Buildings
3
Listing Agency:
Platinum Partners Real Estate
Listed By:
Marisa Bauer · License #01418223
Source:
Homesbyupside
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 11:04PM
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 Platinum Partners Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property comprises three buildings on a single parcel, with office, workspace, and residential-style layouts across the site. The 1361 Esplanade building, constructed in 1910, includes three private upstairs rooms or offices, a common area, full bathroom, front office, additional offices, kitchen, two rooms or offices, half bathroom, and basement storage. A curved front window and built-in bookshelves add distinctive interior features.
The 121 W. 4th Avenue building provides multiple private offices, workspace, kitchenette, dining area, open office space, two bathrooms, and a separate front entry. At 1351 Esplanade, the layout includes four bedrooms or rooms, a kitchen, full bathroom, private entry, and two HVAC units. The three-building configuration offers varied interior arrangements for office, live-work, and other mixed-use applications supported by the existing layouts.
The 121 W. 4th Avenue building provides multiple private offices, workspace, kitchenette, dining area, open office space, two bathrooms, and a separate front entry. At 1351 Esplanade, the layout includes four bedrooms or rooms, a kitchen, full bathroom, private entry, and two HVAC units. The three-building configuration offers varied interior arrangements for office, live-work, and other mixed-use applications supported by the existing layouts.
Key Highlights
- Three buildings positioned on one parcel
- 1361 Esplanade building constructed in 1910
- 1361 Esplanade includes three private upstairs rooms or offices and basement storage
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
$67,553
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
5.40%
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%
$1,351,060
$1.4M
Cap Rate 7%
$965,043
$965.0K
Cap Rate 9%
$750,589
$750.6K
Market Conditions
NOI Build-Up for 5,852 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
$127.8K $21.84/SF
− Vacancy
−$5.0K −$0.85/SF
EGI
$122.8K $20.99/SF
− OpEx
−$55.3K −$9.44/SF
NOI
$67.6K $11.54/SF
Area
Chico, CA
Vacancy
3.90%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
45.00%
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%
$1,351,060
Cap Rate 7%
$965,043
Cap Rate 9%
$750,589
Alternative Uses
Best Use
Apartment 5plus
$965.0K
$844.4K – $1.13M
NOI $67,553 @ 7.0% cap · market cap 5.40%
Second Best
Mixed Use
$943.0K
$825.1K – $1.10M
NOI $66,011 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,709 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,451
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?
Mixed-use property - Three buildings on one parcel combine office layouts, residential-style features, and flexible workspace configurations.
Where is this mixed-use property located?
The property is located at 1361 Esplanade Chico, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three buildings positioned on one parcel; 1361 Esplanade building constructed in 1910; 1361 Esplanade includes three private upstairs rooms or offices and basement storage
