Downtown Chico Mixed-Use
225 Main St, Chico, CA 95928
Call to check price and availability
Mixed-use building in downtown Chico near university.
Type:Retail
Property size:
23,444 SFPrice / SF:
$149/SF- Added:
- Feb 8, 2024
- Days on Market:
- 880
- Last Refresh:
- Jul 5 at 1:54 pm
Property Features for 225 Main St
General Information
- Standard status
- Active
- Size
- 23,444 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1965
Listing office Harris Commercial (530) 419-1600
Listing date Feb 8, 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 Harris Commercial
HighLights
- Prime Downtown Chico location, steps from CSU Chico, with high pedestrian traffic.
- Mixed‑use building with 20 leasable units, offering diverse income potential.
- Redevelopment potential into a traditional retail building up to 23,450 SF.
- DN (Downtown North) zoning allows for a wide range of uses including retail, office, and residential.
- Dual entrances on Main Street and Wall Street, with access to a large municipal parking lot.
- High traffic counts (15,000 ADT) on Main Street and significant signage opportunities.
Overview
Located in the core of Downtown Chico, near California State University, Chico, this mixed-use property fronts Main Street between 2nd and 3rd Streets and extends to Wall Street, adjacent to a municipal parking lot. Currently configured as The Garden Walk Mall, it features 20 leasable units for retail, personal services, restaurants, and office space. The property offers the opportunity to continue the existing layout, improve the tenancy model, or redevelop into a traditional retail building accommodating tenants up to 23,450 square feet. The ground floor spans approximately 16,950 square feet, with a second floor of about 6,500 square feet. The front 10,000 square feet features open clear-span arched wood truss construction, while the rear 6,500 square foot, two-story section is CMU block with steel support columns. Zoned DN (Downtown North), the property allows for various uses, including retail, personal service, educational, cultural, recreational, office, and residential uses above the ground floor. The allowable building height is 85 feet. Traffic counts on Main Street are approximately 15,000 ADT, with pedestrian traffic supported by over 15,000 CSU, Chico students. The property has two main entrances on Main Street and Wall Street, with signage available on both entrances and street parking on both sides.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $438.9k | $18.72 |
| − Vacancy | −$24.6k | −$1.05 |
| EGI | $414.3k | $17.67 |
| − OpEx | −$124.3k | −$5.30 |
| NOI | $290.0k | $12.37 |
23,444 SF · lease $18.72/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$4.14M
$3.63M – $4.83M
NOI $290,006 @ 7.0% cap · market cap 8.29%
Second Best
Mixed Use
$3.78M
$3.31M – $4.41M
NOI $264,448 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$4.73M
$4.14M – $5.52M
NOI $331,346 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Boba TeaLicious
Cafe & Coffee Shop
African Connection & Cultural
Art Gallery
PCI Business Services, ...
Data Center
Father Time
(Bike/Boat/Book/etc) Store
Succeed.Net
Telecommunications Service
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- Park Village Shopping Center — Chico, CA 95928
Location Insight
- Map
- Local Demand
- City
- Chico
- County
- Butte
- State
- California
- Longitude
- -121.8397164
- Latitude
- 39.7302359
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Mixed-use building in downtown Chico near university.
Where is this shopping center located?
The property is located at 225 Main St Chico, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Prime Downtown Chico location, steps from CSU Chico, with high pedestrian traffic.; Mixed‑use building with 20 leasable units, offering diverse income potential.; Redevelopment potential into a traditional retail building up to 23,450 SF.
