Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    255 Main St Chester, CA 96020
    Back to Search
    Property profile & analytics

    255 Main St, Chester, CA 96020

    View on Map
    • Commercial real estate
    • 12,375 SF
    • 0.77 lot acres
    Off-Market
    Last Sale Feb 16, 2024
    Property ID
    US09-3630761
    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.
    Value Estimations
    $1,835,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Plumas Bank / Bank / Loan Service

    Property Details for 255 Main St

    Year built
    1981
    Construction
    WOOD
    Lot size
    0.77 lot acres
    Zone code
    C2
    Property type
    Commercial real estate
    APN
    100-083-050-000
    APU
    100083050000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 30, 2025 $6,500,000 Novasia LLC Plu Alturas Ca Landlord LLC Grant Deed $3.9M · Bay Commercial Bank
    Feb 16, 2024 — Plu Alturas Ca Landlord LLC Plumas Bank Intrafamily Transfer · related $25.3M · Protective Life Insurance Co

    Description

    This exceptional investment opportunity presents a 12,375 square foot bank building in Chester, CA, on a 0.77-acre lot. The property features a 15-year absolute NNN lease with Plumas Bank (NASDAQ: PLBC), a regional bank with over $1.64 billion in assets, commencing February 14, 2024, and expiring February 28, 2039. The lease includes a 2% annual rent increase starting March 2025, ensuring consistent income growth. The current Net Operating Income (NOI) is $539,460, resulting in a 7.25% cap rate. The asking price is $7,440,000. This single-tenant property benefits from the bank's substantial $86+ million in deposits at this location and its established presence in the Chester community since 1988. Chester's economy thrives on tourism, driven by the proximity to Lake Almanor, a popular summer destination attracting 400,000 annual visitors. The property enjoys excellent visibility and accessibility on Main Street, with convenient access to major highways connecting to larger California and Nevada cities. The area also boasts a strong retail presence, as evidenced by the high performance of nearby national and regional retailers. The building was constructed in 1982 and has an APN of 100-083-050. This investment offers a secure, long-term income stream with significant upside potential. The lease includes one 15-year renewal option with a 2% annual rent increase.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,742,000
      Market price range: $868k - $2.13M
      AI Estimate
      $1,922,000
      Market price range: $873k - $2.38M

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

    Location Insight

    • Map
    • Local Demand
    City
    Chester
    County
    Plumas
    State
    California
    Longitude
    -121.23
    Latitude
    40.3079

    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
    $20,150
    $234,808
    $1,507,185
    $1,741,993
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      4,736 SF

      607 Main St

      COMMERCIAL (GENERAL)
      607 Main St, Chester, CA 96020
      View Details
    • Value Estimation by Request
      2,530 SF

      290 Willow St

      COMMERCIAL (GENERAL)
      290 Willow St, Chester, CA 96020
      View Details
    • Value Estimation by Request
      1,376 SF

      441 Main St

      COMMERCIAL (GENERAL)
      441 Main St, Chester, CA 96020
      View Details
    • Value Estimation by Request
      1,355 SF

      128 Willow Way

      COMMERCIAL (GENERAL)
      128 Willow Way, Chester, CA 96020
      View Details
    • Value Estimation by Request
      2,208 SF

      509 Main St

      COMMERCIAL (GENERAL)
      509 Main St, Chester, CA 96020
      View Details
    • Value Estimation by Request
      2,056 SF

      605 Main St

      COMMERCIAL (GENERAL)
      605 Main St, Chester, CA 96020
      View Details

    Similar Nearby for Sale

    • $140,000
      2,025 SF

      Chester Airport Aircraft Hangar

      Aircraft hangar at Chester Airport, Lake Almanor Basin.
      241 Masson Rd, Chester, CA 96020
      View Details
    • $40,000
      0.64 Acres

      Lake Almanor West Acreage

      0.64 acre lot in Lake Almanor West, California.
      275 Osprey Loop, Chester, CA 96020
      View Details
    • $124,900
      0.40 Acres

      Golf Course Lot in Chester

      Prime location lot backing to the 2nd green.
      254 Lake Almanor West Dr, Chester, CA 96020
      View Details
    • Contact for pricing
      1,000 SF

      Established Coffee House For Sale

      Turnkey coffee business with drive-through in high-traffic location.
      192 Main St, Chester, CA 96020
      View Details
    • $50,000
      0.39 Acres

      Lake Almanor West Land

      Well-maintained lot with access to community amenities.
      303 Raccoon Trl, Chester, CA 96020
      View Details
    • $38,000
      0.31 Acres

      Level Lot in Desirable Location

      Partially cleared lot near amenities, ideal for building a home.
      244 Watson Rd, Chester, CA 96020
      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.
    255 Main St
    Chester, CA 96020
    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

    Thank You for Inquiry
    255 Main St, Chester, CA, 96020
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!