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Property profile & analytics
FOR SALE
Retail space
2540 Esplanade Chico, CA 95973
Individually Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-2597692
For Sale
1 / 34
$6,000,000
2540 Esplanade, Chico, CA 95973
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Property summary
AI-generated overview
This exceptional 7,838 square foot retail property, situated on a 1.83-acre lot in Butte County, presents a unique investment opportunity. Built in 1986, the property is currently fully vacant and offers flexible space options, with a minimum divisible unit of 2,850 square feet and a maximum contiguous space of 4,988 square feet. Its prime location at the intersection of East Avenue and The Esplanade boasts an impressive average daily traffic count of approximately 33,000 vehicles. The center enjoys high visibility and is surrounded by established businesses including Raley's, Orchard Supply Hardware, Rite-Aid, Oak Harbor Hardware, Jack in the Box, and an AM/PM Arco gas station, ensuring strong foot traffic and brand recognition. Ample parking and proximity to public transportation further enhance its appeal. The lease is a Triple Net (NNN) agreement, with current reimbursements set at $0.58 per square foot and $513.00 per month. This is a rare chance to secure a prominent retail space in a thriving commercial area. The property offers significant potential for a variety of retail businesses seeking a high-traffic, well-located space in a bustling shopping center.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1986
Construction
CONCRETE
Total area
24,806 SF
Lot
1.97 ac (85,657 SF)
APN
006-060-060-000
UPID
US10-2597692
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
-
Lucito Insurance Agency Inc Insurance Agency
-
Law Offices of Matthew S. Luzaich Law Firm
-
Northern California Fire Lawyers Law Firm
-
Esplanade Express Laundry (Bike/Boat/Book/etc) Store
-
Esplanade Massage Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.79M
CAP Approach
CAP
$4.72M
Comparable Approach
Comparable
$3.01M
Blend (final)
Blend
$4.03M
Owner & transaction history
Adel Mubaraka · 2 yrs held
Adel Mubaraka
since 2023
Last sale
$4.5M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.9M
+28.9%
Office building
$3.8M
+1.2%
Industrial (general)
$3.8M
+0.3%
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 Chico submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chico 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
$3,560,000
ML approach
$3,790,000
CAP Approach
CAP Return
Estimation
6%
$5,115,000
6.5%
$4,720,000
7%
$4,385,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,800,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,895,000
Change: +29% · Conversion: Difficult
OFFICE BUILDING
$3,845,000
Change: +1% · Conversion: Easy
INDUSTRIAL (GENERAL)
$3,810,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$4.03M
Range $3.63M – $4.43M · ±10% · vs last sale $4.54M (Nov 7 2023)
Last sale anchor
$4.54M
Nov 7 2023
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
$162 / 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
$33,609
Tax year 2024
Assessed value
$3,042,000
Assessed 2024
Previous assessed
$3,042,000
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$1,000,000
Assessed improvement
$2,042,000
Applied tax rate
2.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1986
Construction
CONCRETE
Heating
YES
Cooling
YES
Total area
24,806 SF
Lot
1.97 ac (85,657 SF)
APN
006-060-060-000
UPID
US10-2597692
Jurisdiction
BUTTE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.9M
OFFICE BUILDING
Est. value
$3.8M
INDUSTRIAL (GENERAL)
Est. value
$3.8M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
1986
Construction
CONCRETE
Heating
YES
Cooling
Yes
Lot
1.97 ac
Current owner
From public records · entity-resolved
Adel Mubaraka
Individual
Mailing address
441 SOUTHBURY LN, CHICO, CA 95973-8207
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 7, 2023
$4,542,500
Adel Mubaraka
The Fong Family Partnership
Grant Deed
$600,000 · Starker Services INC
May 16, 2003
$3,200,000
Fong Family Partnership
Llk Holding Co
Grant Deed
$736,000 · Tri Counties Bank
May 16, 2003
—
Howard L Fong
Fong,aileen
Quit Claim Deed
related
—
—
—
Fong Family Ptshp
—
Deed Of Trust
related
$1,600,000 · Umpqua Bank
—
—
Fong Family Partnership
—
Deed Of Trust
related
$2,000,000 · Tri Counties 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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