Three-Building Office
1370 Ridgewood Drive, Chico, CA 95973
For Sale
$3,100,000
Office space is fully leased to government and private-sector tenants, with OMU zoning and on-site parking.
Property Size23,525 SF
Price / SF$131.77
Days on Market21
Property Features for 1370 Ridgewood Drive
General Information
Standard status
Size
Total Parking Spaces
Zoning
Occupancy
Additional Details
Cap Rate
Tenant in Place
Property Use
Amenities
landscaped grounds
1
true
Assessor
Landscaped,Street Level
Public
3.4
112
23525
3
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Commercial Brokers of California
(530) 828-0011
Listed By:
Michael Donnelly · License #01429436
(530) 895-1545
Source:
Gotrealestatesolutions
Added: Oct 20
Changed: Nov 8
Last Checked: Nov 8 at 1:23PM
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 Commercial Brokers of California
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Investment Insights
Based on property information with market context.
Ridgewood Plaza is an office property comprising three buildings with a combined 23,525 square feet. Built in 1985, the buildings sit on landscaped grounds and provide 112 on-site parking spaces. The property is zoned OMU.
The tenant base includes government and private-sector organizations, and the property is fully leased. Its setting among professional businesses and organizations in Chico includes the Chico Unified School District, Oak Bridge Academy, the U.S. Social Security Administration, Five Star Bank, and the Internal Revenue Service.
The tenant base includes government and private-sector organizations, and the property is fully leased. Its setting among professional businesses and organizations in Chico includes the Chico Unified School District, Oak Bridge Academy, the U.S. Social Security Administration, Five Star Bank, and the Internal Revenue Service.
Key Highlights
- Three office buildings totaling 23,525 square feet
- Fully leased to government and private‑sector tenants
- 112 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$248,963
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,979,260
$5.0M
Cap Rate 7%
$3,556,614
$3.6M
Cap Rate 9%
$2,766,256
$2.8M
Market Conditions
NOI Build-Up for 23,525 SF
Gross rent
$347.2K $14.76/SF
− Vacancy
−$15.3K −$0.65/SF
EGI
$332.0K $14.11/SF
− OpEx
−$83.0K −$3.53/SF
NOI
$249.0K $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 Rate 5%
$4,979,260
Cap Rate 7%
$3,556,614
Cap Rate 9%
$2,766,256
Alternative Uses
Best Use
Office B
$3.56M
$3.11M – $4.15M
NOI $248,963 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.75M
$4.16M – $5.54M
NOI $332,491 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
343
Businesses Nearby
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Business Placement
Demographics for 95973, CA
39,609
Population
15,836
Households
2.5
Avg Household Size
39
Median Age
41%
College-Educated
94%
High-School Grad
300.1 sq mi
ZIP Area
132
Density / Sq Mi
$92,228
Median Household Income
$45,897
Median Earnings
$1,546
Median Rent
$484,600
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Chico, CA
Properties on Market for Office buildings in Chico
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Office space is fully leased to government and private-sector tenants, with OMU zoning and on-site parking.
Where is this office building located?
The property is located at 1370 Ridgewood Drive Chico, CA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Three office buildings totaling 23,525 square feet; Fully leased to government and private‑sector tenants; 112 on‑site parking spaces
