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Property profile & analytics
OFF-MARKET
Estimated value
$1,425,000
Office buildings
225 Spruce St Gridley, CA 95948-2215
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US09-3818846
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1962
Construction
TILT-UP CONCRETE
Total area
6,699 SF
Lot
0.76 ac (33,105 SF)
Zoning code
C-2
APN
010-151-036-000
UPID
US09-3818846
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
-
Frazer Stacy L Medical Clinic
-
Kaikei Cho Physician
-
Maralee Cartner Md Bowers Pediatrician Physician
-
Albert W Md Nielsen Pediatrician Physician
-
Fischer Connie Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.45M
Blend (final)
Blend
$1.43M
Owner & transaction history
Enloe Medical Center · 10 yrs held
Enloe Medical Center
since 2016
2 recorded transactions
Zoning & alternative use
C-2 · Gridley, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the C-2 General Commercial District is to preserve commercial districts to serve the community needs for durable goods, automotive and repair services, and other retail and wholesale commercial uses
Zone name
General Commercial
General category
COMMERCIAL
Zone area
91.11 ac
Source
Realmo
Top alternative use upside
Apartment house (5+ units)
$1.2M
+21.0%
Industrial (general)
$1.0M
+1.7%
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 Gridley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gridley 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,010,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,225,000
Change: +21% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,030,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$1.43M
Range $1.28M – $1.57M · ±10%
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
$213 / 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
$553
Tax year 2024
Assessed value
$1,003,902
Assessed 2024
Previous assessed
$1,003,902
+0.0% YoY
Effective rate
0.06%
On assessed value
Assessed land
$232,114
Assessed improvement
$771,788
Applied tax rate
3.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1962
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Total area
6,699 SF
Lot
0.76 ac (33,105 SF)
Zoning code
C-2
APN
010-151-036-000
UPID
US09-3818846
Jurisdiction
BUTTE
Zoning & alternative use
C-2 · Gridley, CAZoning C-2 · permitted uses
C-2 · Gridley, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the C-2 General Commercial District is to preserve commercial districts to serve the community needs for durable goods, automotive and repair services, and other retail and wholesale commercial uses
Zone name
General Commercial
General category
COMMERCIAL
Zone area
91.11 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$1.0M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
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
1962
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Lot
0.76 ac
Current owner
From public records · entity-resolved
Enloe Medical Center
Individual
Mailing address
1531 ESPLANADE, CHICO, CA 95926-3310
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 27, 2016
$865,000
Enloe Medical Center
Bmj Ents
Grant Deed
—
—
—
Bmj Enterprises
—
Deed Of Trust
related
$290,000 · Wells Fargo 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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