230 3Rd StChico, CA 95928

Property Details for 230 3Rd St

Year built

1944

Construction

TILT-UP CONCRETE

Lot size

0.08 AC

Property size (Sq ft)

7,392 SF

Zone code

CC

Property type

Retail properties

Property subtype

Retail space

APN

004-062-013-000

APU

4062013000

Description

This exceptional 2,200-square-foot executive office space is ideally situated in the vibrant heart of downtown Chico, California, at 230 W 3rd Street, zip code 95928. Previously a restaurant, this Class C property offers a turnkey solution for businesses seeking a prominent location. The single-tenant space boasts an open layout, perfect for modern office configurations. Large windows flood the space with natural light, creating a welcoming atmosphere. A significant advantage is its proximity to a convenient parking garage, ensuring easy access for employees and clients. Beyond the main 2,200 square feet, a substantial basement area is available for tenant use, though not included in the listed square footage. The property is categorized as Retail, Office, and Restaurant, offering flexibility for various business types. Fixtures, furnishings, and equipment are negotiable, providing potential cost savings for the incoming tenant. The lease is a NNN (Net, Net, Net) agreement. Butte County location provides access to a thriving community and strong local economy. This is a rare opportunity to secure a prime commercial space in a desirable downtown location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,958,337

  6.5%

  $1,807,696

  7%

  $1,678,574

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,659,683

  Geo Method

  $2,659,683

• Alternative Use

  Use

  Valuation

  Residential

  $1,524,859

  Hospitality

  $1,396,762

  Educational

  $1,162,090

  Medical

  $1,202,056

  Retail

  $1,807,696

Location Insight

City

Chico

County

Butte

State

California

Latitude

39.7288

Longitude

-121.841

CBSA code

17020

CBSA name

CHICO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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