Downtown Chico Storefront with
For Sale
Contact for pricing
218 & 222 Main St, Chico, CA 95926
Historic downtown storefront with original brick and high ceilings.
Property Size6,710 SF
Price / SF$144.35
Days on Market767
Property Features for 218 & 222 Main St
General Information
Standard status
Active
Size
6,710 SF
Property subtype
Retail
Zoning
DN
Building Details
Year Built
1931
Year Renovated
2018
Listing Agency:
Capital Rivers Commercial
(916) 804-8046
Listed By:
Carrie Welch · License #01926238
Source:
Crexi
Added: Jul 26, 2024
Changed: Aug 14
Last Checked: Aug 31 at 9:32AM
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 Capital Rivers Commercial
Investment Insights
Based on property information with market context.
This downtown Chico storefront features original brick walls and 13-foot ceilings. It includes a patio space and is located on a high-traffic block. The historic building is suitable for various uses, including a restaurant, tasting room, retail space, or mixed-use with office space. Currently in cold shell condition, the property offers design possibilities. The building has two addresses: 222 Main Street, which can be divided into approximately 3,077 square feet, and 218 Main Street, which can be divided into approximately 3,633 square feet. The total property size is 6,710 square feet.
Key Highlights
- Prime downtown Chico location on a high‑traffic block.
- Stunning original brick walls and 13’ ceilings.
- Versatile space suitable for restaurant, tasting room, retail, or mixed‑use.
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
$83,004
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
8.57%
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%
$1,660,080
$1.7M
Cap Rate 7%
$1,185,771
$1.2M
Cap Rate 9%
$922,267
$922.3K
Market Conditions
NOI Build-Up for 6,710 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
$125.6K $18.72/SF
− Vacancy
−$7.0K −$1.05/SF
EGI
$118.6K $17.67/SF
− OpEx
−$35.6K −$5.30/SF
NOI
$83.0K $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%
$1,660,080
Cap Rate 7%
$1,185,771
Cap Rate 9%
$922,267
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.38M
NOI $83,004 @ 7.0% cap · market cap 8.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.19M – $1.58M
NOI $94,836 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,061
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Historic downtown storefront with original brick and high ceilings.
Where is this storefront property located?
The property is located at 218 & 222 Main St Chico, CA.
What is the asking price?
The asking price for this property is $968,600.
What are key features of this property?
This property features: Prime downtown Chico location on a high‑traffic block.; Stunning original brick walls and 13’ ceilings.; Versatile space suitable for restaurant, tasting room, retail, or mixed‑use.
