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

    2231 Kennedy Ave Chico, CA 95973-9667

    • Commercial real estate
    • 2,952 SF
    • 0.55 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1536082
    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

    • Commercial real estate

    Property Details for 2231 Kennedy Ave

    Year built
    1957
    Lot size
    0.55 lot acres
    Property size
    2,952 SF
    Zone code
    G-C
    Property type
    Commercial real estate
    APN
    042-080-077-000
    APU
    42080077000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chico
    County
    Butte
    State
    California
    Longitude
    -121.887
    Latitude
    39.7432
    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
    $3,721
    $170,672
    $164,412
    $335,084
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.25 Acres

      2720 Cohasset Rd

      COMMERCIAL (GENERAL) • 0.25 Acres
      2720 Cohasset Rd, Chico, CA 95973-0983
      View Details
    • Value Estimation by Request
      0.09 Acres

      9th Santos Way

      COMMERCIAL (GENERAL) • 0.09 Acres
      9th Santos Way, Chico, CA 95973
      View Details
    • Value Estimation
      $515,000
      696 SF

      3022 State Hwy 32

      COMMERCIAL (GENERAL) • 696 SF
      3022 State Hwy 32, Chico, CA 95973-9711
      View Details
    • Value Estimation
      $845,000
      1,196 SF

      2855 Burnap Ave

      COMMERCIAL (GENERAL) • 1,196 SF
      2855 Burnap Ave, Chico, CA 95973-9180
      View Details
    • Value Estimation by Request
      1,462 SF

      13645 Anderson Brothers Dr

      COMMERCIAL (GENERAL) • 1,462 SF
      13645 Anderson Brothers Dr, Chico, CA 95973-9289
      View Details
    • Value Estimation by Request
      1,200 SF

      3012 Esplanade

      COMMERCIAL (GENERAL) • 1,200 SF
      3012 Esplanade, Chico, CA 95973-0221
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Chico Executive Park Office Suite

      Turnkey Office Space, Ample Parking, Gym
      1367 Lassen Ave, Chico, CA 95973
      View Details
    • Contact for pricing

      Chico Restaurant Space - Lassen View

      Prime Chico location, 4,552 sq ft, outdoor patio.
      2760 Esplanade 100, Chico, CA 95973
      View Details
    • $4,995,000

      Chico Industrial Campus Investment

      Prime Chico location, high-yield investment.
      1395 Ridgewood Dr, Chico, CA 95973
      View Details
    • $1,900,000

      Chico Industrial Warehouse - $1.9M

      Iconic Chico warehouse, 21,280 sq ft, 1.84 acres.
      1020 Marauder St, Chico, CA 95973
      View Details
    • Contact for pricing

      Chico Airport Commercial Property

      Iconic building, 21,280 sq ft, 1.84 acres
      1020 Marauder St, Chico, CA 95973
      View Details
    • $495,000
      2,344 SF

      Established Chico Bakery - Three Locations

      Profitable bakery, three locations, turnkey operation.
      2760 Esplanande, Chico, CA 95973
      View Details

    Similar Nearby for Lease

    • $0.65 SF/Yr
      83,750 SF

      Chico Industrial Space: 83,750 SF

      Prime Chico warehouse/manufacturing space. Divisible, high ceilings, ample loading.
      1065 Marauder St, Chico, CA 95973
      View Details
    • $1,500 /Mo

      North Chico Warehouse with Office

      Warehouse unit with office space in North Chico.
      3199 Plummers Dr, Chico, CA 95973
      View Details
    • Contact for pricing
      10,201 SF

      Prime Butte County Executive Office Space

      10,201 SF Executive Office, Daytime Use Only
      1395 Ridgewood Dr, Chico, CA 95973
      View Details
    • Contact for pricing
      750 SF

      Chico Executive Office Suite

      750 SF Office, Prime Location
      95 Declaration Dr, Chico, CA 95973
      View Details
    • $2,700 /Mo
      3,111 SF

      Corner Office Space with Windows

      Second-floor office with natural light, private offices, and amenities.
      60 Declaration Dr, Chico, CA 95973
      View Details
    • $2,700 /Mo
      3,000 SF

      Move-in Ready Warehouse with Office

      Warehouse with updated office, fenced yard, and convenient access.
      5 Freight Ln, Chico, CA 95973
      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.
    2231 Kennedy Ave
    Chico, CA 95973-9667
    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.