Commercial Property on Mangrove
For Sale
Contact for pricing
1215 Mangrove Ave, Chico, CA 95926
Well-maintained commercial property with high traffic and fully leased units.
Property Size6,599 SF
Price / SF$147.75
Days on Market818
Property Features for 1215 Mangrove Ave
General Information
Standard status
Active
Size
6,599 SF
Property subtype
Retail
Building Details
Year Built
1978
Stories
1
Units
3
Listing Agency:
CBCNorcal Commercial Brokers of California
(530) 828-0011
Listed By:
Mike Donnelly · License #01429436
Source:
Crexi
Added: May 17, 2024
Changed: Aug 12
Last Checked: Jul 16 at 7:10AM
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 CBCNorcal Commercial Brokers of California
Investment Insights
Based on property information with market context.
This commercial property is located on Mangrove Avenue between 1st and 3rd Avenues, benefiting from high traffic counts exceeding 21,000 vehicles per day. The property features three commercial units, totaling 6,599 square feet. All three units are fully leased, presenting a commercial investment opportunity. Neighboring businesses include Great Harvest Bread, Popeyes Louisiana Kitchen, and Jiffy Lube.
Key Highlights
- High Traffic Location: Over 21,000 vehicles per day on Mangrove Ave.
- Fully Leased: Three commercial units are currently generating income.
- Strong Investment: 6.75% Cap Rate.
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
$81,631
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
8.37%
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%
$1,632,620
$1.6M
Cap Rate 7%
$1,166,157
$1.2M
Cap Rate 9%
$907,011
$907.0K
Market Conditions
NOI Build-Up for 6,599 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
$123.5K $18.72/SF
− Vacancy
−$6.9K −$1.05/SF
EGI
$116.6K $17.67/SF
− OpEx
−$35.0K −$5.30/SF
NOI
$81.6K $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%
$1,632,620
Cap Rate 7%
$1,166,157
Cap Rate 9%
$907,011
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.36M
NOI $81,631 @ 7.0% cap · market cap 8.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.17M – $1.55M
NOI $93,267 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,335
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Well-maintained commercial property with high traffic and fully leased units.
Where is this retail space located?
The property is located at 1215 Mangrove Ave Chico, CA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: High Traffic Location: Over 21,000 vehicles per day on Mangrove Ave.; Fully Leased: Three commercial units are currently generating income.; Strong Investment: 6.75% Cap Rate.
