Multi-Tenant Retail
615 Mangrove, Chico, CA 95926
For Sale
$2,395,000
The tenant roster includes three businesses, alongside pedestrian walkways, bicycle parking and outdoor seating.
Property Size8,174 SF
Price / SF$293
Days on Market47
Property Features for 615 Mangrove
General Information
Standard status
Size
Property subtype
Amenities
pedestrian walkways
bicycle parking
outdoor seating areas
Building Details
Building Size
Year Built
Buildings
Construction
Tenancy
Listing Agency:
Commercial Brokers of California
Listed By:
Michael Donnelly · License #01429436
(530) 828-0011
Source:
Elliman
Added: Sep 24
Changed: Oct 25
Last Checked: Nov 8 at 6:43AM
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 Commercial Brokers of California
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Investment Insights
Based on property information with market context.
This 8,174-square-foot retail building, completed in 2007, is part of The Shops at Mangrove. Current businesses include Nation’s Giant Hamburgers, Top Notch’z Nails & Spa and Mink Speakeasy Tattoo Studio. The center features pedestrian walkways, bicycle parking and outdoor seating areas.
Across from Bidwell Park, the center is also near Chico High School, Chico Junior High School and the U.S. Post Office. A Safeway-anchored shopping center and Chipotle sit across the intersection. The location serves Downtown Chico and Chico State University.
Across from Bidwell Park, the center is also near Chico High School, Chico Junior High School and the U.S. Post Office. A Safeway-anchored shopping center and Chipotle sit across the intersection. The location serves Downtown Chico and Chico State University.
Key Highlights
- 8,174‑square‑foot retail building, built in 2007
- Current tenants include Nation’s Giant Hamburgers, Top Notch’z Nails & Spa and Mink Speakeasy Tattoo Studio
- Pedestrian walkways, bicycle parking and outdoor seating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,114
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,022,280
$2.0M
Cap Rate 7%
$1,444,486
$1.4M
Cap Rate 9%
$1,123,489
$1.1M
Market Conditions
NOI Build-Up for 8,174 SF
Gross rent
$153.0K $18.72/SF
− Vacancy
−$8.6K −$1.05/SF
EGI
$144.4K $17.67/SF
− OpEx
−$43.3K −$5.30/SF
NOI
$101.1K $12.37/SF
Area
Chico, CA
Vacancy
5.60%
Lease Rate
$18.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,022,280
Cap Rate 7%
$1,444,486
Cap Rate 9%
$1,123,489
Alternative Uses
Best Use
Retail
$1.44M
$1.26M – $1.69M
NOI $101,114 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.93M
NOI $115,527 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,000
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 95926, CA
41,259
Population
18,566
Households
2.2
Avg Household Size
31
Median Age
45%
College-Educated
96%
High-School Grad
7.8 sq mi
ZIP Area
5,290
Density / Sq Mi
$62,334
Median Household Income
$27,870
Median Earnings
$1,418
Median Rent
$462,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - The tenant roster includes three businesses, alongside pedestrian walkways, bicycle parking and outdoor seating.
Where is this shopping center located?
The property is located at 615 Mangrove Chico, CA.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: 8,174‑square‑foot retail building, built in 2007; Current tenants include Nation’s Giant Hamburgers, Top Notch’z Nails & Spa and Mink Speakeasy Tattoo Studio; Pedestrian walkways, bicycle parking and outdoor seating
