Professional Office Building with
For Sale
$779,000
2535 Ceanothus, Chico, CA 95973
Commercial Sale, Chico, CA
Property Size3,000 SF
Price / SF$259.67
Days on Market171
Property Features for 2535 Ceanothus
General Information
Property type
Residential
Property subtype
Office
Directions
The building is located in the Pleasant Valley Courtyard complex. The complex is situated on Ceanothus Ave, near the intersection of East Ave and Mariposa Ave, in close proximity to Pleasant Valley High School and the Safeway Shopping Center.
Standard status
Active
APN
016280048000
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9398
Building Details
Year built
2008
Listing Agency:
Keller Williams Realty Chico Area
(530) 809-3700
Listed By:
Matthew Herman · License #01505777
(530) 212-7373
Added: Mar 4
Changed: Aug 19
Last Checked: Aug 22 at 2:06AM
MLS# SN26054524
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2008, this professional office building is located within the Pleasant Valley Courtyard and features a total of two evenly split units. The layout provides a private entrance for each suite and independent utility meters. Unit #120 is configured with four large individual offices, while Unit #128 is built out for a dental or medical practice.
The property sits on Ceanothus Avenue in Chico and offers proximity to Pleasant Valley High School and the Safeway Shopping Center. The building is constructed with wood framing and includes a durable metal roof. A photovoltaic solar system is also installed to support energy efficiency.
For buyers seeking a small, purpose-built office asset, the split-suite structure allows for different professional uses and operational flexibility. The current tenant configuration includes office-ready space in Unit #120 and a medical/dental buildout in Unit #128. Long-term leases are reported as in place through 2028, supporting stability for an owner looking to acquire an income-producing property. Viewing is available by appointment only.
The property sits on Ceanothus Avenue in Chico and offers proximity to Pleasant Valley High School and the Safeway Shopping Center. The building is constructed with wood framing and includes a durable metal roof. A photovoltaic solar system is also installed to support energy efficiency.
For buyers seeking a small, purpose-built office asset, the split-suite structure allows for different professional uses and operational flexibility. The current tenant configuration includes office-ready space in Unit #120 and a medical/dental buildout in Unit #128. Long-term leases are reported as in place through 2028, supporting stability for an owner looking to acquire an income-producing property. Viewing is available by appointment only.
Key Highlights
- 2008‑built 3,000 SF professional office building in Pleasant Valley Courtyard
- Split into two 1,500 SF units (Unit #120 and Unit #128), each with a private entrance and independent utility meters
- Unit #120 includes four large individual offices; Unit #128 is built out for a dental or medical practice
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
$34,884
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
4.48%
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%
$697,680
$697.7K
Cap Rate 7%
$498,343
$498.3K
Cap Rate 9%
$387,600
$387.6K
Market Conditions
NOI Build-Up for 3,000 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
$61.2K $20.40/SF
− Vacancy
−$3.1K −$1.02/SF
EGI
$58.1K $19.38/SF
− OpEx
−$23.3K −$7.75/SF
NOI
$34.9K $11.63/SF
Area
Chico, CA
Vacancy
5.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
40.00%
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%
$697,680
Cap Rate 7%
$498,343
Cap Rate 9%
$387,600
Alternative Uses
Best Use
Healthcare Medical
$498.3K
$436.1K – $581.4K
NOI $34,884 @ 7.0% cap · market cap 4.48%
Second Best
Office B
$453.6K
$396.9K – $529.2K
NOI $31,749 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$605.7K
$530.0K – $706.7K
NOI $42,401 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - 2008-built office building with two separately metered units and photovoltaic solar, suited for multiple professional office users.
Where is this office units located?
The property is located at 2535 Ceanothus Chico, CA.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: 2008‑built 3,000 SF professional office building in Pleasant Valley Courtyard; Split into two 1,500 SF units (Unit #120 and Unit #128), each with a private entrance and independent utility meters; Unit #120 includes four large individual offices; Unit #128 is built out for a dental or medical practice
