Individually Owned Property summary
AI-generated overview
This exceptional Chico, CA commercial property at 2531 Forest Avenue presents a unique investment opportunity. Priced at $600,000, this well-maintained, owner-built building offers two suites currently occupied by long-term tenants. While their leases have expired, both tenants express a strong desire to remain under new ownership, providing immediate income potential. The larger suite boasts over 2,000 square feet of professional office space, ideal for a law firm or similar business. The second suite is configured into smaller, private offices, offering flexibility for various uses. The property features ample parking, convenient street access, and easy-to-maintain landscaping. Its excellent location in Butte County, CA (zip code 95928), adds to its desirability. Tenants are readily available to show the units by appointment, allowing for a seamless transition for the new owner. This is a turnkey opportunity to acquire a profitable commercial property in a thriving Chico market. The property is classified as both office and land, offering potential for future development or expansion. Don't miss this chance to own a well-established and highly sought-after commercial building.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2002
Construction
WOOD
Total area
3,000 SF
Lot
0.29 ac (12,632 SF)
Zoning code
C1
APN
002-210-042-000
UPID
US09-2274479
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Family Counselor
-
Law Firm
-
Law Firm
-
Law Firm
-
Law Firm
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$490k
CAP Approach
CAP
$520k
Comparable Approach
Comparable
$480k
Blend (final)
Blend
$625k
Owner & transaction history
since 2025
Last sale
$525,000
3 recorded transactions
Zoning & alternative use
C1 · Chico, CA
Top alternative use upside
Commercial (general)
$840,000
+57.5%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional plan · 30 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$625k
Value range
$563k – $688k
±10% around blend
Estimated value / SF
$208 / SF
Confidence
Low
3 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
30
$563k
blend $625k
$688k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,000 SF
Lot area
0.29 ac
Year built
2002
APN
002-210-042-000
Zoning
C1
Assessed value
$497,525
Annual tax
$5,556
3
Income approach: direct capitalization
Partial preview
Income approach indication
$520k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$565k
@ 6.5% CAP return
$520k
@ 7% CAP return
$485k
4
Sales comparison
Partial preview
Sales approach indication
$472k
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
9.7 mi away · 2,730 SF
21.7 mi away · 3,500 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$625k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 45 sales
$178
+17%
Submarket 164 sales
$173
+21%
County 225 sales
$151
+38%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $208/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+57%
vs current-use indication
Office Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Professional plan · 30 reports
from $99/month
from $99/month
Overview
Implied cap rate
5.40%
Implied, in-place cap rate for this office buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.40%
9.0%
NOI (est.)
$37k *
Last sale · Jan 2025
$525k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$681k
Move the market yield to see immediate price impact.
Value / SF
$227
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.90%5.40%5.90%
$33k
$675k
$612k
$561k
$37k
$750k
$681k
$623k
$40k
$825k
$749k
$685k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$675k
0.4 mi · Nov 2025 · $180/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$5,556
Tax year 2024
Assessed value
$497,525
Assessed 2024
Previous assessed
$497,525
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$72,406
Assessed improvement
$425,119
Applied tax rate
2.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2002
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Total area
3,000 SF
Lot
0.29 ac (12,632 SF)
Zoning code
C1
APN
002-210-042-000
UPID
US09-2274479
Jurisdiction
BUTTE
Zoning & alternative use
C1 · Chico, CAZoning C1 · permitted uses
C1 · Chico, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2002
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Lot
0.29 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C1
Jurisdiction
Chico, CA
Recorded code
C1
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C1 in Chico, CA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2531 Frst Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
Get access to Data & Analytics Reports
Choose the membership plan that suits your needs
Unlock 1 Light Report
Free
Confirm your email
and get 1 Light Report
and get 1 Light Report
Your report includes if available
- Property Ownership
- Basic report summary
MOST POPULAR
Professional plan
$99
/mo
30 FULL REPORTS a month.
Your membership includes if available
- Property Insight Report
- Value Estimation
- Cap Rate Calculation
- Location Intelligence
- Business Placement
- Ownership
- Zoning
Enterprise plan
$299
/mo
300 FULL REPORTS a month.
Your membership includes if available
- Property Insight Report
- Value Estimation
- Cap Rate Calculation
- Location Intelligence
- Business Placement
- Ownership
- Zoning
