Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2021 Dr Ml King Jr Pkwy Chico, CA 95928-6797

    • Retail space
    • 9,600 SF
    • 0.77 lot acres
    OFF-MARKET
    Value Estimations
    $1,665,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2821604
    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.

    Current Use by Public Records

    • Retail space

    Property Details for 2021 Dr Ml King Jr Pkwy

    Year built
    1993
    Construction
    TILT-UP CONCRETE
    Lot size
    0.77 lot acres
    Property size
    9,600 SF
    Property type
    Retail space
    APN
    005-560-021-000
    APU
    5560021000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,980,000
      6.5%
      $1,825,000
      7%
      $1,695,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,022,000
      Market price range: $747k - $2.02M
      AI Estimate
      $1,149,000
      Market price range: $270k - $1.15M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,290,000
      Current use
      COMMERCIAL (GENERAL)
      $2,695,000
      Change: +109% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,065,000
      Change: +60% Conversion: Difficult
      OFFICE BUILDING
      $1,710,000
      Change: +32% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $1,475,000
      Change: +14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chico
    County
    Butte
    State
    California
    Longitude
    -121.811
    Latitude
    39.7247
    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
    $29,078
    $394,048
    $2,232,978
    $2,627,026
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $10,735,000
      125,873 SF

      2044 Frst Ave

      RETAIL STORES (PERSONAL SERVICES) • 125,873 SF
      2044 Frst Ave, Chico, CA 95928-7619
      View Details
    • Value Estimation
      $735,000
      6,253 SF

      255 7th St

      RETAIL STORES (PERSONAL SERVICES) • 6,253 SF
      255 7th St, Chico, CA 95928-7852
      View Details
    • Value Estimation
      $1,005,000
      7,733 SF

      2050 Business Ln

      RETAIL STORES (PERSONAL SERVICES) • 7,733 SF
      2050 Business Ln, Chico, CA 95928-7603
      View Details
    • Value Estimation by Request
      1,248 SF

      925 Cedar St

      RETAIL STORES (PERSONAL SERVICES) • 1,248 SF
      925 Cedar St, Chico, CA 95928-6404
      View Details
    • Value Estimation
      $7,790,000
      90,400 SF

      2060 20th St

      RETAIL STORES (PERSONAL SERVICES) • 90,400 SF
      2060 20th St, Chico, CA 95928-7700
      View Details
    • Value Estimation
      $6,680,000
      45,947 SF

      1919 20th St

      RETAIL STORES (PERSONAL SERVICES) • 45,947 SF
      1919 20th St, Chico, CA 95928-6341
      View Details

    Similar Nearby for Sale

    • $375,000
      2,812 SF

      Corner Lot Commercial Investment Property

      Commercial investment property with dual buildings in downtown Chico, CA.
      236-244 W 9Th St, Chico, CA 95928
      View Details
    • $2,500,000
      6,702 SF

      Chico Retail Center: Prime Location

      6,702 SF Retail Space, Owner/User Opportunity
      2499 Bruce Rd, Chico, CA 95928
      View Details
    • $375,000

      Two Commercial Buildings on Corner

      Two commercial buildings on one parcel, highly visible corner.
      236 W 9Th St, Chico, CA 95928
      View Details
    • New
      $1,200,000
      11,170 SF

      Commercial Property on Park Avenue

      Highly visible commercial property suitable for retail, service, and warehouse uses.
      1536 Park Ave, Chico, CA 95928
      View Details
    • $450,000
      1,063 SF

      Chico Retail Investment Opportunity

      Downtown Chico storefront, high visibility
      236 9Th St, Chico, CA 95928
      View Details
    • $1,950,000
      9,768 SF

      Historic El Rey Theater For Sale

      Historic Chico theater and retail spaces for sale.
      230 W 2Nd St, Chico, CA 95928
      View Details

    Similar Nearby for Lease

    • $9,563 /Mo

      Corner Retail Space in Meriam Park

      Retail space in master-planned community with high traffic.
      1998 Alcott Ave, Chico, CA 95928
      View Details
    • Contact for pricing
      6,702 SF

      Retail Space with Solar Energy

      Retail property featuring convenient access and potential cost savings.
      2499 Bruce Rd, Chico, CA 95928
      View Details
    • New
      $8,500 /Mo
      11,170 SF

      Versatile Commercial Property on Park Avenue

      Highly visible commercial property suitable for retail, service, and warehouse uses.
      1538 Park Ave, Chico, CA 95928
      View Details
    • $5,921 /Mo
      5,586 SF

      Downtown Chico Retail Storefront Space

      Retail storefront with skylights and alley access in Downtown Chico.
      166 E 2Nd St, Chico, CA 95928
      View Details
    • $2 SF/Yr
      3,274 SF

      New Retail Space Available

      New construction retail space in mixed-use complex for lease.
      1990 Belgium Ave, Chico, CA 95928
      View Details
    • $1,925 /Mo

      Retail Space in South Chico

      Modern retail unit in a desirable South Chico location.
      2477 Forest Ave, Chico, CA 95928
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2021 Dr Ml King Jr Pkwy
    Chico, CA 95928-6797
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.