Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2615 Frst Ave Chico, CA 95928-4383

    • Office buildings
    • 3,500 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Aug 10, 2020
    $620,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-3274246
    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

    • Rhio Nelson Insurance Agency / Insurance Agency
    • Guild Mortgage - Michael Powell / Mortgage Lender / Consultant
    • Guild Mortgage Company / Mortgage Lender / Consultant
    • Lopes Chiropractic Health Center / Chiropractor
    • Bodie Shepherd / Consultant / Mortgage Lender

    Property Details for 2615 Frst Ave

    Year built
    2003
    Construction
    WOOD
    Lot size
    0.23 lot acres
    Property size
    3,500 SF
    Property type
    Office buildings
    APN
    002-210-049-000
    APU
    2210049000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chico
    County
    Butte
    State
    California
    Longitude
    -121.791
    Latitude
    39.7177
    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
    $7,307
    $212,241
    $445,707
    $657,948
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $285,000
      4,006 SF

      260 2nd St

      OFFICE BUILDING • 4,006 SF
      260 2nd St, Chico, CA 95928-5468
      View Details
    • Value Estimation
      $290,000
      2,576 SF

      227 6th St

      OFFICE BUILDING • 2,576 SF
      227 6th St, Chico, CA 95928-5509
      View Details
    • Value Estimation
      $180,000
      13,459 SF

      888 Lakeside Vlg Cmns

      OFFICE BUILDING • 13,459 SF
      888 Lakeside Vlg Cmns, Chico, CA 95928-3979
      View Details
    • Value Estimation
      $200,000
      6,490 SF

      2452 Lakewest Dr

      OFFICE BUILDING • 6,490 SF
      2452 Lakewest Dr, Chico, CA 95928-8420
      View Details
    • Value Estimation
      $240,000
      18,123 SF

      2255 Fair St

      OFFICE BUILDING • 18,123 SF
      2255 Fair St, Chico, CA 95928-6747
      View Details
    • Value Estimation by Request
      1,732 SF

      2008 Franklin St

      OFFICE BUILDING • 1,732 SF
      2008 Franklin St, Chico, CA 95928-6727
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Downtown Commercial Office Space Available

      Office space with parking in a desirable downtown location.
      180 4Th St, Chico, CA 95928
      View Details
    • $699,000
      4,356 SF

      Updated Office Building For Sale

      Recently updated office building, ideal for investors or owner-users.
      310 Flume St, Chico, CA 95928
      View Details
    • $5,250,000
      36,540 SF

      Chico Office Complex: Prime Location

      Versatile Office & Warehouse Space
      400 Park Ave, Chico, CA 95928
      View Details
    • $3,150,000
      5,829 SF

      Chico Ambulatory Surgery Center

      Freestanding, single-story, 5,829 SF ambulatory surgery center for sale.
      127 Raley Blvd, Chico, CA 95928
      View Details
    • $375,000

      Two Commercial Buildings on Corner

      Two commercial buildings on one parcel, highly visible corner.
      236 W 9Th St, Chico, CA 95928
      View Details
    • Contact for pricing
      1,670 SF

      Chico Office Space: Prime Location

      Corner office, ample space, great signage.
      500 St Unit 150, Chico, CA 95928
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,450 SF

      Chico Executive Office Suite

      1,450 SF Office in Park-like Setting
      1530 Humboldt Rd, Chico, CA 95928
      View Details
    • $1,610 /Mo
      1,400 SF

      Professional Office Space in Chico

      Well-designed office space in a sought-after Chico professional building.
      1459 Humboldt Rd, Chico, CA 95928
      View Details
    • $1,650 /Mo

      Renovated Office and Shop Space

      Newly renovated office and shop space with modern amenities.
      129 Meyers St, Chico, CA 95928
      View Details
    • $4,526 /Mo

      Downtown Chico Upstairs Office Space

      Downtown Chico office space featuring five private units.
      120 W 2Nd 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
    • $3,300 /Mo

      Remodeled Office Suite For Rent

      Modern remodeled office suite with 8 private offices for rent.
      2068 Talbert Dr, Chico, CA 95928
      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.
    2615 Frst Ave
    Chico, CA 95928-4383
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.