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    FOR SALE
    Retail space

    218 Main St, Chico, CA 95926

    6,710 SF 0.17 ac lot Built 1931
    Trust Owned 6-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US09-0474821
    Property summary
    AI-generated overview

    This exceptional 6,710 square foot retail property, located at 218 & 222 Main Street in Chico, California, presents a unique investment opportunity. Built in 1931 and renovated in 2018, this historic building boasts stunning original brick walls and 13-foot ceilings, creating a captivating atmosphere. The property features a charming patio space, perfect for outdoor dining or retail displays, and benefits from its prime location on a bustling, high-traffic block in downtown Chico. Zoned DN, this versatile space is ideal for a variety of uses, including restaurants, tasting rooms, retail shops, or mixed-use concepts incorporating office space. Currently offered as a cold shell, the property provides limitless design possibilities for a buyer to customize to their specific vision. The building's layout allows for flexible configurations, with the potential to be divided into approximately 3,077 square feet and 3,633 square feet. Its proximity to California State University, Chico, and other downtown amenities ensures high visibility and foot traffic. The asking price is $968,600. This is a rare chance to acquire a piece of Chico's history and capitalize on the vibrant downtown market. The property is currently in cold shell condition, meaning there is no existing HVAC, electrical, or plumbing infrastructure, offering significant flexibility for the new owner.

    Property profile
    Verified
    Property type Retail space
    Use group RETAIL STORES (PERSONAL SERVICES)
    Year built 1931
    Construction TILT-UP CONCRETE
    Total area 6,710 SF
    Lot 0.17 ac (7,405 SF)
    Zoning code CC
    APN 004-081-010-000
    UPID US09-0474821
    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
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $580k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $859k
    Blend (final) Blend
    $795k
    Owner & transaction history
    Testamentary Trust · 6 yrs held
    Testamentary Trust
    since 2020
    Last sale
    $915,000
    5 recorded transactions
    2020
    2020
    $915,000
    2000
    $445,000
    1983
    1969
    Zoning & alternative use
    CC · Chico, CA
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Office building $1.2M +32.5%
    Industrial (general) $1.0M +14.2%
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    More about this property
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