Multi-Tenant Retail
New
For Sale
$2,395,000
615 Mangrove, Chico, CA 95926
The tenant roster includes three businesses, alongside pedestrian walkways, bicycle parking and outdoor seating.
Property Size8,174 SF
Price / SF$293
Days on Market2
Property Features for 615 Mangrove
General Information
Standard status
Active
Size
8,174 SF
Property subtype
Commercial
Amenities
pedestrian walkways
bicycle parking
outdoor seating areas
Building Details
Building Size
8,174 SF
Year Built
2007
Buildings
1
Construction
contemporary architecture
Tenancy
Multi
Listing Agency:
Commercial Brokers of California
Listed By:
Michael Donnelly · License #01429436
(530) 828-0011
Source:
Elliman
Added: Sep 24
Last Checked: Sep 24 at 1:51PM
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
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 = 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
$101,114
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
4.22%
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%
$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
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
$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 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%
$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.
Property Analytics
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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
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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
