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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    224 Meyers St Chico, CA 95928-7108

    • Warehouses
    • 15,852 SF
    • 1.54 lot acres
    OFF-MARKET
    Last Sale
    Feb 03, 2021
    $1,250,000
    Value Estimations
    $1,595,000
    Show details
    Cap Rate Potential
    7.5%
    Warehouses
    Location Intelligence
    Property ID
    US09-3153212
    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

    • Premier Pump / Plumbing Supply Store
    • Premier Bath and Kitchen / Home Goods Store
    • PACE Supply / Plumbing Supply Store / Agricultural Product Wholesaler

    Property Details for 224 Meyers St

    Year built
    1992
    Construction
    STEEL FRAME
    Lot size
    1.54 lot acres
    Property size
    15,852 SF
    Property type
    Warehouses
    APN
    039-430-133-000
    APU
    39430133000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,485,000
      ML approach
      $1,155,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,850,000
      6.5%
      $1,705,000
      7%
      $1,585,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,709,000
      Market price range: $775k - $2.52M
      AI Estimate
      $951,000
      Market price range: $356k - $1.37M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,645,000
      Current use
      INDUSTRIAL (GENERAL)
      $2,435,000
      Change: +48% Conversion: Easy
      RETAIL STORES
      $2,130,000
      Change: +30% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Chico
    County
    Butte
    State
    California
    Longitude
    -121.819
    Latitude
    39.7136
    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
    $14,686
    $344,892
    $981,617
    $1,326,509
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $295,000
      0.13 Acres

      1425 5th St

      WAREHOUSE, STORAGE • 0.13 Acres
      1425 5th St, Chico, CA 95928-4805
      View Details
    • Value Estimation
      $440,000
      1,536 SF

      2569 Scott Ave

      WAREHOUSE, STORAGE • 1,536 SF
      2569 Scott Ave, Chico, CA 95928-7188
      View Details
    • Value Estimation
      $330,000
      3,440 SF

      2526 Fair St

      WAREHOUSE, STORAGE • 3,440 SF
      2526 Fair St, Chico, CA 95928-8821
      View Details
    • Value Estimation
      $750,000
      49,500 SF

      323 Huss Dr

      WAREHOUSE, STORAGE • 49,500 SF
      323 Huss Dr, Chico, CA 95928-8209
      View Details
    • Value Estimation
      $240,000
      9,600 SF

      341 Huss Dr

      WAREHOUSE, STORAGE • 9,600 SF
      341 Huss Dr, Chico, CA 95928-8209
      View Details
    • Value Estimation
      $255,000
      9,600 SF

      345 Huss Dr

      WAREHOUSE, STORAGE • 9,600 SF
      345 Huss Dr, Chico, CA 95928-8209
      View Details

    Similar Nearby for Sale

    • $1,926,000
      21,448 SF

      Chico Warehouse with Office Space

      21,448 SF warehouse with office/retail space for sale.
      994 E 20Th St, Chico, CA 95928
      View Details
    • $336,000

      South Chico Warehouse/Industrial Condo

      2,100 sq ft warehouse/industrial condo in South Chico.
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    • $1,682,000

      Chico Warehouse & Land Investment

      8.78 Acres, Leased Studio, Development Potential
      2654 Cramer Ln, Chico, CA 95928
      View Details
    • $1,650,000
      20,000 SF

      600 Orange St

      Distribution properties • 20,000 SF
      600 Orange St, Chico, CA 95928
      View Details
    • $6,250,000
      64,951 SF

      Chico Warehouse and Distribution Facility

      64,951 SF warehouse/distribution property with multiple loading docks.
      71 Loren Ave, Chico, CA 95928
      View Details
    • $4,585,000

      Industrial Buildings on Large Lot

      Two industrial buildings on 2.42 acres with yard space.
      2270 Ivy St, Chico, CA 95928
      View Details

    Similar Nearby for Lease

    • $4,775 /Mo

      Downtown Chico Restaurant and Bar

      Remodeled restaurant and bar with warehouse and basement space.
      824 Oroville Ave, Chico, CA 95928
      View Details
    • $4,050 /Mo

      Warehouse with Roll-Ups and Docks

      Spacious warehouse featuring roll-up doors and loading docks for rent.
      415 Otterson Dr, Chico, CA 95928
      View Details
    • $34,310

      Industrial Property with Office Space

      Secure industrial property featuring warehouse, office, and covered storage.
      100 Loren Ave, Chico, CA 95928
      View Details
    • $1,650,000
      20,000 SF

      Central Chico Warehouse Block

      20,000 SF warehouse with office space in Chico.
      600-634 Orange St, Chico, CA 95928
      View Details
    • $13 SF/Yr
      3,379 SF

      Chico Office/Warehouse Space

      1,480 SF Executive Office Available
      1095 Nelson St, Chico, CA 95928
      View Details
    • $5,100 /Mo

      Warehouse with Large Yard Space

      2,400 SF warehouse with 31,000 SF yard for lease.
      2530 South Whitman Pl, Chico, CA 95928
      View Details
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    224 Meyers St
    Chico, CA 95928-7108
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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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