Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2515 Way Unit 6 Chico, CA 95928
    Back to Search
    Property profile & analytics

    2515 Way Unit 6 Chico, CA 95928

    View on Map
    • Industrial properties
    • 2,469 SF
    • 0.92 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 2515 Way Unit 6

    Year built
    1980
    Lot size
    0.92 lot acres
    Property size
    2,469 SF
    Property type
    Industrial properties

    Description

    This exceptional 2,469 square foot industrial warehouse unit is ideally situated in Chico, CA, just off Skyway, providing convenient access to essential services. The property boasts a generous 0.92-acre lot, offering ample space for loading, unloading, and potential future expansion. Inside, the warehouse features a well-designed layout, including dedicated office space perfect for administrative functions or client meetings. A substantial mezzanine level provides valuable additional storage capacity, maximizing the unit's overall utility. The strategic location near key services ensures efficient operations and minimizes logistical challenges. This property presents a compelling opportunity for businesses seeking a functional and conveniently located industrial space in a thriving Chico market. The asking price is $1,975,000. This is a rare opportunity to acquire a well-appointed industrial property in a prime Chico location. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chico
    County
    Butte
    State
    California
    Longitude
    -121.869
    Latitude
    39.7015

    Comparable in this City

    • Value Estimation by Request
      1.11 Acres

      Chico, CA 95928

      INDUSTRIAL (GENERAL) • 1.11 Acres
      Chico, CA 95928
      View Details
    • Value Estimation by Request
      0.28 Acres

      1407 Almond St

      INDUSTRIAL (GENERAL) • 0.28 Acres
      1407 Almond St, Chico, CA 95928-6411
      View Details
    • Value Estimation by Request
      1.39 Acres

      Chico, CA 95928

      INDUSTRIAL (GENERAL) • 1.39 Acres
      Chico, CA 95928
      View Details
    • Value Estimation
      $1,355,000
      28,663 SF

      418 Ivy St

      INDUSTRIAL (GENERAL) • 28,663 SF
      418 Ivy St, Chico, CA 95928-5120
      View Details
    • Value Estimation by Request
      8,235 SF

      844 Broadway St

      INDUSTRIAL (GENERAL) • 8,235 SF
      844 Broadway St, Chico, CA 95928-5529
      View Details
    • Value Estimation by Request
      800 SF

      701 Miller Ave

      INDUSTRIAL (GENERAL) • 800 SF
      701 Miller Ave, Chico, CA 95928
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,231 SF

      Chico Industrial Warehouse - Great Location

      Spacious warehouse, prime Chico location, near services.
      2515 Way Unit 7, Chico, CA 95928
      View Details
    • Contact for pricing
      64,951 SF

      Chico Warehouse and Distribution Facility

      64,951 SF warehouse/distribution property with multiple loading docks.
      71 Loren Ave, Chico, CA 95928
      View Details
    • $1,200,000
      11,170 SF

      Commercial Property on Park Avenue

      Highly visible commercial property suitable for retail, service, and warehouse uses.
      1538 Park Ave, Chico, CA 95928
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Warehouse Space with Conditioned Office

      Warehouse space featuring roll-up door, conditioned office, and restroom.
      1095 Nelson St, Chico, CA 95928
      View Details
    • $8,500 /Mo
      11,170 SF

      Versatile Commercial Property on Park Avenue

      Highly visible commercial property suitable for retail, service, and warehouse uses.
      1538 Park Ave, Chico, CA 95928
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2515 Way Unit 6
    Chico, CA 95928
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2515 Way Unit 6, Chico, CA, 95928
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!