Historic Downtown Chico Mixed-Use
For Sale
$968,600
218 Main St, Chico, CA 95928
Downtown Chico building with original features and high traffic location.
Property Size6,710 SF
Lot Size0.17 Acres
Price / SF$266.61
Days on Market164
Property Features for 218 Main St
General Information
Standard status
Active
Size
6,710 SF
Lot size
0.17 Acres
Property subtype
Commercial
Building Details
Building Size
6,710 SF
Year Built
1931
Listing Agency:
Capital Rivers Commercial Inc
(530) 343-3733
Listed By:
Carrie Welch · License #01926238
(530) 343-3733
Source:
Elliman
Added: Mar 11
Changed: Aug 13
Last Checked: Aug 20 at 11:43AM
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.
Located in downtown Chico, this property features original brick walls, 13-foot ceilings, storefronts, and a patio space. Situated on a high-traffic block, the historic building offers numerous potential uses, including restaurant, tasting room, retail, or mixed-use including office space. The building is currently in cold shell condition, lacking HVAC, electrical, and plumbing, which allows for a variety of design options. The space at 222 Main Street can be demised to 3,077 square feet, while 218 Main Street can be demised to 3,633 square feet.
Key Highlights
- High‑traffic downtown location on Main Street
- Versatile space suitable for restaurant, tasting room, retail, office, or mixed‑use
- Historic building with original brick walls and 13' ceilings**
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
$48,151
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
4.97%
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%
$963,020
$963.0K
Cap Rate 7%
$687,871
$687.9K
Cap Rate 9%
$535,011
$535.0K
Market Conditions
NOI Build-Up for 3,633 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
$68.0K $18.72/SF
− Vacancy
−$3.8K −$1.05/SF
EGI
$64.2K $17.67/SF
− OpEx
−$16.1K −$4.42/SF
NOI
$48.2K $13.25/SF
Area
Chico, CA
Vacancy
5.60%
Lease Rate
$18.72 /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%
$963,020
Cap Rate 7%
$687,871
Cap Rate 9%
$535,011
Alternative Uses
Best Use
Specialty Retail
$687.9K
$601.9K – $802.5K
NOI $48,151 @ 7.0% cap · market cap 4.97%
Second Best
Retail
$642.0K
$561.8K – $749.0K
NOI $44,941 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$733.5K
$641.8K – $855.8K
NOI $51,347 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,061
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 95928, CA
38,378
Population
17,455
Households
2.2
Avg Household Size
35
Median Age
41%
College-Educated
90%
High-School Grad
145.4 sq mi
ZIP Area
264
Density / Sq Mi
$65,350
Median Household Income
$32,615
Median Earnings
$1,419
Median Rent
$476,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Chico Gifts Flowers & Balloons — 304 W 5th St, Chico, CA 95928
- Camellia Florist & Flower Delivery Chico CA — 352 Camellia Way, Chico, CA 95928
- Bloose Flower Delivery Chico CA — 752 Buttonwillow Ln, Chico, CA 95926
Frequently Asked Questions
What type of property is this?
Storefront property - Downtown Chico building with original features and high traffic location.
Where is this storefront property located?
The property is located at 218 Main St Chico, CA.
What is the asking price?
The asking price for this property is $968,600.
What are key features of this property?
This property features: High‑traffic downtown location on Main Street; Versatile space suitable for restaurant, tasting room, retail, office, or mixed‑use; Historic building with original brick walls and 13' ceilings**
