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    1215 Mangrove Ave Chico, CA 95926-3554
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    Property profile & analytics

    1215 Mangrove Ave, Chico, CA 95926-3554

    View on Map
    • Office buildings
    • 6,599 SF
    • 0.21 lot acres
    Off-Market
    Last Sale Jan 16, 2025
    $875,000
    Property ID
    US09-3068281
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $935,000
    Show details
    Cap Rate Potential
    7.2%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • A Prevention Education Program / Corporate Office
    • Backyard Solutions / (Bike/Boat/Book/etc) Store / Kitchen & Bath Showroom
    • Any Wind Publishing / Publishing House

    Property Details for 1215 Mangrove Ave

    Year built
    1978
    Construction
    TILT-UP CONCRETE
    Lot size
    0.21 lot acres
    Zone code
    C1
    Property type
    Office buildings
    APN
    003-451-021-000
    APU
    3451021000

    Description

    This exceptional commercial investment opportunity presents a fully leased storefront property located at 1215 Mangrove Avenue in Chico, California. The property boasts a total of 6,599 square feet, divided into three individual commercial units, all currently under lease. Built in 1978, this single-story building sits on a 9,148 square foot lot (APN: 003451021000) and offers a compelling 6.75% capitalization rate. The asking price is $975,000, translating to a price per square foot of $148. Situated on a vibrant stretch of Mangrove Avenue between 1st and 3rd Avenues, this property benefits from exceptionally high traffic counts, exceeding 21,000 vehicles daily. The location is further enhanced by its proximity to successful businesses such as Great Harvest Bread, Popeyes Louisiana Kitchen, and Jiffy Lube, contributing to a thriving commercial environment. This property represents a strong investment opportunity with a stable income stream and significant potential for future growth. Tenants should not be disturbed.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,040,000
      ML approach
      $980,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,240,000
      6.5%
      $1,145,000
      7%
      $1,065,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $685,000
      Market price range: $686k - $1.50M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,105,000
      Current use
      RETAIL STORES
      $1,520,000
      Change: +37% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $1,225,000
      Change: +10% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $1,015,000
      Change: -8% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chico
    County
    Butte
    State
    California
    Longitude
    -121.839
    Latitude
    39.7422
    CBSA code
    17020
    CBSA name
    CHICO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $6,993
    $150,080
    $482,201
    $632,281
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation
      $1,385,000
      7,074 SF

      120 Msn Rnch Blvd

      OFFICE BUILDING
      120 Msn Rnch Blvd, Chico, CA 95926-2186
      View Details
    • Value Estimation by Request
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      766 Ee Ave

      OFFICE BUILDING
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    • Value Estimation
      $1,250,000
      7,576 SF

      1074 Ee Ave

      OFFICE BUILDING
      1074 Ee Ave, Chico, CA 95926-1005
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    • Value Estimation
      $1,760,000
      9,000 SF

      500 Cohasset Rd

      OFFICE BUILDING
      500 Cohasset Rd, Chico, CA 95926-2260
      View Details
    • Value Estimation by Request
      480 SF

      383 Connors Ct

      OFFICE BUILDING
      383 Connors Ct, Chico, CA 95926-1178
      View Details

    Similar Nearby for Sale

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      Professional Office Building For Sale

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    • Contact for pricing
      5,038 SF

      Chico Office Building For Sale

      5,038 SF office building with parking and visibility.
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      View Details
    • $280,000

      Immaculate Commercial Office Building

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      Immaculate Office Building in Chico

      Pristine commercial office building in desirable Stonebridge Plaza.
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    Similar Nearby for Lease

    • Contact for pricing

      Professional Office Spaces Available

      Office spaces for rent with shared amenities and parking.
      9 Williamsburg Ln, Chico, CA 95926
      View Details
    • $1,600 /Mo
      1,380 SF

      Chico Office Suite For Lease

      1380 SF professional or medical office suite for lease.
      392 Connors Ct, Chico, CA 95926
      View Details
    • $1,440 /Mo

      Professional Office Suite For Rent

      Functional office suite with water access and on-site parking.
      250 Cohasset Rd, Chico, CA 95926
      View Details
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    Chico, CA 95926-3554
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    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
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    1215 Mangrove Ave, Chico, CA, 95926
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