Downtown Office Building with
For Sale
$2,499,000
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 Market170
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: Sep 6
Last Checked: Sep 13 at 10:36AM
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
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 = 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
$175,571
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
7.03%
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%
$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
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
$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 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%
$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 7.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.35M
$2.93M – $3.91M
NOI $234,475 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
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
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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Multi-tenant office building with Salem Street frontage and an on-site paved, striped parking lot with approximately 13 spaces.
Where is this office units located?
The property is located at 350 Salem Street Chico, CA.
What is the asking price?
The asking price for this property is $2,499,000.
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
