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Property profile & analytics
OFF-MARKET
Estimated value
$840,000
Retail space
1250 Esplanade Chico, CA 95926-3329
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2664624
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1905
Construction
WOOD
Total area
4,802 SF
Lot
0.21 ac (9,147 SF)
Zoning code
NC
APN
003-074-018-000
UPID
US09-2664624
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Red Tavern Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$840k
CAP Approach
CAP
$915k
Comparable Approach
Comparable
$735k
Blend (final)
Blend
$840k
Owner & transaction history
Richard M Garcia · 1 yrs held
Richard M Garcia
since 2024
Last sale
$840,000
3 recorded transactions
Zoning & alternative use
NC · Chico, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+21.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chico submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chico submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$840,000
ML approach
$840,000
CAP Approach
CAP Return
Estimation
6%
$990,000
6.5%
$915,000
7%
$850,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,105,000
Current use
COMMERCIAL (GENERAL)
$1,345,000
Change: +22% · Conversion: Easy
Blend value · Realmo final
$840k
Range $756k – $924k · ±10% · vs last sale $840k (Aug 15 2024)
Last sale anchor
$840k
Aug 15 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$175 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$5,963
Tax year 2024
Assessed value
$540,000
Assessed 2024
Previous assessed
$540,000
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$100,000
Assessed improvement
$440,000
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1905
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Total area
4,802 SF
Lot
0.21 ac (9,147 SF)
Zoning code
NC
APN
003-074-018-000
UPID
US09-2664624
Jurisdiction
BUTTE
Zoning & alternative use
NC · Chico, CA
Zoning NC · permitted uses
NC · Chico, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chico. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1905
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Lot
0.21 ac
Current owner
From public records · entity-resolved
Richard M Garcia
Individual
Mailing address
2851 LONGWOOD DR, CHICO, CA 95928-8939
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 15, 2024
$840,000
Richard M Garcia
Michael S Maddux
Grant Deed
$668,000 · Golden Valley Bank
Jan 16, 2007
—
Maddux Seldon & Marjorie Trust
Maddux,seldon D JR & Marjorie C
Quit Claim Deed
related
—
Jan 1, 1968
—
Maddux,seldon D JR & Marjorie C
—
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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