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Property profile & analytics
OFF-MARKET
Estimated value
$1,015,000
Warehouses
15 Commerce Ct Chico, CA 95928-7114
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-0027783
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2004
Total area
6,500 SF
Lot
0.65 ac (28,314 SF)
Zoning code
CS
APN
039-430-165-000
UPID
US09-0027783
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
-
Billson Construction Co Inc Construction Company
-
Terminix Garden Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.04M
CAP Approach
CAP
$700k
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.02M
Owner & transaction history
Richard Billson · 4 yrs held
Richard Billson
since 2021
Last sale
$1.0M
7 recorded transactions
Zoning & alternative use
CS · Chico, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.4M
+107.1%
Office building
$1.2M
+71.7%
Industrial (general)
$1.0M
+48.0%
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
$1,190,000
ML approach
$1,035,000
CAP Approach
CAP Return
Estimation
6%
$760,000
6.5%
$700,000
7%
$650,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$675,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,395,000
Change: +107% · Conversion: Difficult
OFFICE BUILDING
$1,160,000
Change: +72% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,000,000
Change: +48% · Conversion: Easy
RETAIL STORES
$875,000
Change: +30% · Conversion: Moderate
Blend value · Realmo final
$1.02M
Range $914k – $1.12M · ±10% · vs last sale $1.00M (Dec 14 2021)
Last sale anchor
$1.00M
Dec 14 2021
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
$156 / 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
$11,499
Tax year 2024
Assessed value
$1,040,400
Assessed 2024
Previous assessed
$1,040,400
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$234,090
Assessed improvement
$806,310
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2004
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
6,500 SF
Lot
0.65 ac (28,314 SF)
Zoning code
CS
APN
039-430-165-000
UPID
US09-0027783
Jurisdiction
BUTTE
Zoning & alternative use
CS · Chico, CA
Zoning CS · permitted uses
CS · 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
WAREHOUSE, STORAGE Current
Est. value
$675,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$1.0M
RETAIL STORES
Est. value
$875,000
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
INDUSTRIAL (GENERAL)
RETAIL STORES
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
2004
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.65 ac
Current owner
From public records · entity-resolved
Richard Billson
Individual
Mailing address
15 COMMERCE CT #150, CHICO, CA 95928-7114
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2022
—
Richard Billson
—
Deed
related
$414,000 · Superior California Economic Development
Dec 14, 2021
$1,000,000
Richard Billson
Makena Endeavors LLC
Grant Deed
$500,000 · Golden Valley Bank
Nov 1, 2019
—
Makena Endeavors LLC
—
Deed
related
$335,000 · Private Individual
Sep 24, 2019
$807,500
Makena Endeavors LLC
Loncar Family Trust
Grant Deed
$403,750 · Tri Counties Bank
Oct 3, 2006
—
Loncar Family Trust
Loncar,ante & Ljubica V
Quit Claim Deed
related
—
May 25, 2005
$715,000
Ante Loncar
Hls
Grant Deed
$430,000 · Tri Counties Bank
Sep 9, 2003
$135,000
H L S
Damschem,floyd E
Grant Deed
—
—
—
Makena Endeavors LLC
—
Deed Of Trust
related
$335,000 · Private Individual
—
—
Hls
—
Deed Of Trust
related
$250,000 · Butte Community Bank
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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