Building Details

Building Size 5,852 SF

Year Built 1910

Buildings 3

Listing Agency: Platinum Partners Real Estate

Listed By: Marisa Bauer · License #01418223 Show Phone

Source: Homesbyupside

Added: Aug 24 Changed: Oct 15 Last Checked: Oct 15 at 7:01AM

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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

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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.

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 / Yr

$67,553

Cap Rate

5.40%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,351,060 $1.4M

Cap Rate 7%

$965,043 $965.0K

Cap Rate 9%

$750,589 $750.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,852 SF

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 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 (±1% cap)

NOI $67,553 @ 7.0% cap · market cap 5.40%

Second Best

Mixed Use

$943.0K

$825.1K – $1.10M (±1% cap)

NOI $66,011 @ 7.0% cap · market cap 5.28%

Theoretical Best

Office A

$1.18M

$1.03M – $1.38M (±1% cap)

NOI $82,709 @ 7.0% cap · market cap 6.62%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Rooney Michael M Law Firm Terra Fuego Resource ... Association / Organization Morgan Perry, DOMP Alternative Medicine Practice

Suggested Use

Top Pick HVAC Service Storage Facility Grocery & Convenience Store Carpet & Flooring Store Pet Store Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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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