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    15 Pepsi Way Durham, CA 95938

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    6.73 acres of industrial land with Highway 99 frontage.

    Type:Industrial, Land, Self Storage
    Property size:
    293,158 SF
    Lot size:
    6.73 Acres
    Added:
    Jun 4, 2024
    Days on Market:
    678
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for 15 Pepsi Way

    General Information

    Standard status
    Active
    Size
    293,158 SF
    Lot size
    6.73 Acres
    Property subtype
    Industrial, Land, Self Storage

    We can help!

    Listing Contact
    Peter Farsai

    Listing agent Peter Farsai License #02025676

    Listing office Masiv Real Estate Inc

    Listing date Jun 4, 2024

    Source Crexi

    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 Masiv Real Estate Inc

    Overview

    Highway 99 Industrial Land

    This 6.73-acre property features general industrial zoning and frontage on Highway 99, offering immediate freeway access. Located in the Durham/Chico area, the site benefits from an Average Daily Traffic (ADT) count of 52,000, including a truck ADT of 5,639. It is situated 5.5 miles from Chico and 10 minutes from Lake Oroville, sharing an exit with Butte College (with over 12,600 students) and FedEx Ground (400,000 SF). The location serves a population of 200,000 within a 60-mile radius. By-right uses include contractor yards and equipment storage, truck and fleet yards, warehousing and distribution, and mini and RV storage, requiring no Conditional Use Permit (CUP). The property is positioned to meet strong market demand, given the limited supply of general industrial land along Highway 99. Consistent demand is noted from contractors, equipment yards, and fleet operators. Proximity to Chico, Butte College, and existing industrial users supports occupancy, with Highway 99 off-ramp access favored for yard-based and logistics uses. Comparable industrial sites in the corridor show low vacancy. Available documents include an ALTA survey, Phase 1 environmental report, zoning compliance report, property survey, Natural Hazard Disclosure (NHD), a design proposal by Kiwi II Construction, and a site proposal from Baja Construction. Owner financing is available, with willingness to carry with 1/3 down, and the owner is open to joint venture/partnership opportunities. Covered RV & Boat storage is one of the most in-demand commercial uses in this region.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sunworks Solar Power ... Electrical Service Rapid Rack Industrial Manufacturer

    Suggested Use

    Auto Parts Store Big Box & Wholesale Store Food Market Grocery & Convenience Store Electrical Service Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Butte
    State
    California
    Longitude
    -121.7223489
    Latitude
    39.6461623

    FAQs

    What type of property is this?
    Industrial land - 6.73 acres of industrial land with Highway 99 frontage.
    Where is this industrial land located?
    The property is located at 15 Pepsi Way Durham, CA.
    What is the asking price?
    The asking price for this property is $1,382,000.
    What are key features of this property?
    This property features: By‑Right General Industrial (GI) Zoning: Allows for contractor yards, truck/fleet yards, warehousing, and mini/RV storage without a Conditional Use Permit (CUP).; Highway 99 Frontage with Immediate Freeway Access: Provides excellent visibility and accessibility.; Owner Financing Available: Flexible investment terms with owner willing to carry financing with 1/3 down, and open to joint venture/partnership opportunities.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Peter Farsai
    Real Estate License ID: 02025676
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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