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    1316 State Highway 99 Gridley, CA 95948
    Property profile & analytics

    1316 State Highway 99 Gridley, CA 95948

    View on Map
    • Apartment buildings
    • 7,200 SF
    • 0.76 lot acres
    Off-Market
    Property ID
    US09-1722513
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1316 State Highway 99

    Year built
    1963
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.76 lot acres
    Property size
    7,200 SF
    Property type
    Apartment buildings
    APN
    024-070-040-000
    APU
    24070040000

    Description

    This exceptional 10-unit apartment building presents a compelling investment opportunity in the desirable city of Gridley, California. Strategically located just off Highway 99, this property boasts a total of 7,200 square feet situated on a 0.76-acre lot. The well-maintained building offers stable rental income, making it an attractive turnkey asset for investors seeking immediate returns. The strong occupancy rates demonstrate consistent demand and the potential for long-term value appreciation. This property is ideally suited for investors looking for a low-maintenance, high-yield investment in a convenient location with easy access to major transportation routes. The building's current condition and established rental income stream provide a solid foundation for future growth and profitability. Given the property's size, location, and proven rental history, this represents a rare opportunity to acquire a significant multifamily investment in a thriving market. The 0.76-acre lot offers potential for future expansion or development, further enhancing the long-term investment potential. Serious inquiries are encouraged to explore this promising investment opportunity in detail. Financial statements and further property details are available upon request. Don't miss this chance to secure a valuable asset in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $921,000
      Market price range: $766k - $2.18M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,105,000
      OFFICE BUILDING
      $1,090,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Gridley
    County
    Butte
    State
    California
    Longitude
    -121.687
    Latitude
    39.353
    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
    $7,701
    $225,477
    $417,967
    $643,444
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,640,000
      14,820 SF

      150 Haskell St

      APARTMENT HOUSE (5+ UNITS) • 14,820 SF
      150 Haskell St, Gridley, CA 95948-3122
      View Details
    • Value Estimation
      $3,565,000
      37,632 SF

      1500 State Hwy 99

      APARTMENT HOUSE (5+ UNITS) • 37,632 SF
      1500 State Hwy 99, Gridley, CA 95948-3128
      View Details
    • Value Estimation by Request
      7,537 SF

      Gridley, CA 95948

      APARTMENT HOUSE (5+ UNITS) • 7,537 SF
      Gridley, CA 95948
      View Details
    • Value Estimation by Request
      2,880 SF

      1412 Sycamore St

      APARTMENT HOUSE (5+ UNITS) • 2,880 SF
      1412 Sycamore St, Gridley, CA 95948-2907
      View Details
    • Value Estimation by Request
      2,449 SF

      758 Ohio St

      APARTMENT HOUSE (5+ UNITS) • 2,449 SF
      758 Ohio St, Gridley, CA 95948-2453
      View Details
    • Value Estimation by Request
      2,472 SF

      220 Magnolia St

      APARTMENT HOUSE (5+ UNITS) • 2,472 SF
      220 Magnolia St, Gridley, CA 95948-2619
      View Details

    Similar Nearby for Sale

    • $599,000
      2,545 SF

      Retail Property on State Highway

      Retail property with 2,545 square feet of space.
      484 State Highway 99, Gridley, CA 95948
      View Details
    • Contact for pricing

      Commercial Land on Highway 99

      1.23+/- acres of commercial land with Highway 99 frontage.
      State Highway 99, Gridley, CA 95948
      View Details
    • $2,600,000
      7,200 SF

      Gridley Multifamily Investment Opportunity

      Ten-unit apartment building, high ROI potential.
      1316 State Highway 99, Gridley, CA 95948
      View Details
    • $462,000
      30,000 SF

      Highway 99 Commercial Gem

      High-traffic Gridley location, 30,000 sq ft.
      1548 Hw 99, Gridley, CA 95948
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      900 SF

      Retail Space in Gridley Center

      Grocery-anchored retail spaces available on State Route 99.
      1536-1596 State Highway 99, Gridley, CA 95948
      View Details
    • Contact for pricing

      Retail Pad on State Route 99

      Retail pad available for ground lease or build-to-suit.
      2 E Gridley Rd, Gridley, CA 95948
      View Details
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    Gridley, CA 95948
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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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    1316 State Highway 99, Gridley, CA, 95948
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