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    1120 Forest Ave Chico, CA 95928

    Sponsored
    For Sale
    $926,968

    High-traffic, CVS-anchored, shovel-ready lot.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional .76-1 acre commercial land parcel, located at 1120 Forest Avenue in Chico, CA 95928 (APN 002-050-263), presents a unique investment opportunity. Priced at $926,968, it boasts a pro-forma cap rate of 8.00% and a pro-forma NOI of $75,000. The property is zoned CC (Community Commercial), permitting retail and/or office use, and even allows for a drive-thru quick-service restaurant with a Conditional Use Permit. Situated at a high-traffic intersection on the main corridor between Highway 32 and Chico Mall, this "shovel-ready" lot features approximately $485,000 in completed on-site and off-site improvements, including curbs, gutters, storm drains, underground utilities, and an 83-space parking lot. Its location within a CVS-anchored shopping center, near a junior high school, and on the main route to a new county courthouse and veterans hospital, ensures significant visibility and accessibility. The land value is $28 per square foot. Note that this parcel's sale is contingent upon simultaneous closing with an adjacent parcel to facilitate a 1031 exchange for the sellers. This prime location offers unparalleled potential for businesses seeking high visibility and convenient access.

    Property Features for 1120 Forest Ave

    General Information

    Property type
    Land
    Lot Size
    33,106 SF

    HighLights

    • Legal parcel in CVS‑anchored shopping center.
    • High‑traffic intersection in Chico.
    • Two signalized hard corners at the shopping center.
    • Main corridor between Hwy 32 and Chico Mall.
    • CC (Community Commercial) zoning allows retail and/or office use.
    • Zoning permits drive‑thru QSR with CUP.
    Property Profile Location Intelligence

    Current Use by Public Records

    CDReload - Online Bitcoin ... Crypto Atm UPS Access Point ... Shipping And Mailing Service Primo Water Refill Bottled Water Supplier CVS Cosmetics Store CVS Pharmacy Pharmacy

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chico
    County
    Butte
    State
    California
    Longitude
    -121.8054554
    Latitude
    39.7387687

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    FAQs

    What type of property is this?
    Land - High-traffic, CVS-anchored, shovel-ready lot.
    Where is this land located?
    The property is located at 1120 Forest Ave Chico, CA.
    What is the asking price?
    The asking price for this property is $926,968.
    What are key features of this property?
    This property features: Legal parcel in CVS-anchored shopping center.; High-traffic intersection in Chico.; Two signalized hard corners at the shopping center.
    Request Owner's contact information
    1120 Forest Ave Chico, CA 95928
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    Chico, CA 95928
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1120 Forest Ave Chico, CA 95928
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