Downtown Office Building with
For Sale
$1,925,000
350 Salem Street, Chico, CA 95928
Multi-tenant office building with Salem Street frontage and an on-site paved, striped parking lot with approximately 13 spaces.
Property Size16,590 SF
Days on Market217
Property Features for 350 Salem Street
General Information
Standard status
Active
Size
16,590 SF
Total Parking Spaces
13
Property subtype
Office
Zoning
OC
Additional Details
Road Access
Yes
Office Units
5
Building Details
Building Size
16,590 SF
Year Built
1956
Tenancy
Multi
Listing Agency:
Main & Main Commercial
Listed By:
Arwen Funk · License #01198804
(530) 893-1909
Source:
Homesbyupside
Added: Mar 28
Changed: Oct 25
Last Checked: Oct 28 at 2:38PM
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 Main & Main Commercial
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Investment Insights
Based on property information with market context.
Downtown Chico multi-tenant office space with on-site parking and frontage on Salem Street. The larger building includes a paved, striped parking lot with approximately 13 spaces designed for downtown and university convenience. Construction is wood frame and concrete block with a TPO roof.
The property is located in the heart of Downtown Chico, about one block from Chico State, with a City parking structure directly across the street and City Plaza about two blocks away. Suite addresses listed include 330, 340, 344, 346 and 350 Salem Street at 350 Salem.
The property is zoned OC (Office Commercial). The OC district is intended for administrative, financial, business, professional, medical, and public offices, along with supporting commercial uses, with higher-education and academic exposure in the immediate area.
The property is located in the heart of Downtown Chico, about one block from Chico State, with a City parking structure directly across the street and City Plaza about two blocks away. Suite addresses listed include 330, 340, 344, 346 and 350 Salem Street at 350 Salem.
The property is zoned OC (Office Commercial). The OC district is intended for administrative, financial, business, professional, medical, and public offices, along with supporting commercial uses, with higher-education and academic exposure in the immediate area.
Key Highlights
- Downtown Chico multi‑tenant office space with frontage on Salem Street and approximately 177 feet of street frontage
- On‑site paved, striped parking lot with approximately 13 parking spaces
- 350 Salem includes 5 office suites with addresses of 330, 340, 344, 346, and 350 Salem Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$175,571
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,511,420
$3.5M
Cap Rate 7%
$2,508,157
$2.5M
Cap Rate 9%
$1,950,789
$2.0M
Market Conditions
NOI Build-Up for 16,590 SF
Gross rent
$244.9K $14.76/SF
− Vacancy
−$10.8K −$0.65/SF
EGI
$234.1K $14.11/SF
− OpEx
−$58.5K −$3.53/SF
NOI
$175.6K $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%
$3,511,420
Cap Rate 7%
$2,508,157
Cap Rate 9%
$1,950,789
Alternative Uses
Best Use
Office B
$2.51M
$2.19M – $2.93M
NOI $175,571 @ 7.0% cap · market cap 9.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.35M
$2.93M – $3.91M
NOI $234,475 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,061
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Multi-tenant office building with Salem Street frontage and an on-site paved, striped parking lot with approximately 13 spaces.
Where is this office unit located?
The property is located at 350 Salem Street Chico, CA.
What is the asking price?
The asking price for this property is $1,925,000.
What are key features of this property?
This property features: Downtown Chico multi‑tenant office space with frontage on Salem Street and approximately 177 feet of street frontage; On‑site paved, striped parking lot with approximately 13 parking spaces; 350 Salem includes 5 office suites with addresses of 330, 340, 344, 346, and 350 Salem Street
