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Property profile & analytics
FOR LEASE
Office buildings
2801 Godman Ave Chico, CA 95973
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-3219926
For Lease
1 / 9
$4,750/Mo
2801 Godman Ave, Chico, CA 95973
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Construction
WOOD
Total area
3,070 SF
Lot
0.27 ac (11,761 SF)
Zoning code
R3
APN
007-220-023-000
UPID
US09-3219926
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
-
Sunny Garden Chico Family Recreation Center
-
Music Together Chico Vocational School Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$595k
CAP Approach
CAP
$535k
Comparable Approach
Comparable
$590k
Blend (final)
Blend
$595k
Owner & transaction history
Saunterra LLC · 1 yrs held
Saunterra LLC
since 2024
Last sale
$595,000
7 recorded transactions
Zoning & alternative use
R3 · Chico, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$860,000
+81.0%
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
$595,000
ML approach
$595,000
CAP Approach
CAP Return
Estimation
6%
$580,000
6.5%
$535,000
7%
$495,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$475,000
Current use
COMMERCIAL (GENERAL)
$860,000
Change: +81% · Conversion: Easy
RETAIL STORES
$470,000
Change: -1% · Conversion: Moderate
Blend value · Realmo final
$595k
Range $536k – $655k · ±10% · vs last sale $595k (Oct 7 2024)
Last sale anchor
$595k
Oct 7 2024
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
$194 / 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
$7,327
Tax year 2024
Assessed value
$660,994
Assessed 2024
Previous assessed
$660,994
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$240,359
Assessed improvement
$420,635
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1998
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Total area
3,070 SF
Lot
0.27 ac (11,761 SF)
Zoning code
R3
APN
007-220-023-000
UPID
US09-3219926
Jurisdiction
BUTTE
Zoning & alternative use
R3 · Chico, CA
Zoning R3 · permitted uses
R3 · Chico, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chico. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$475,000
COMMERCIAL (GENERAL)
Est. value
$860,000
RETAIL STORES
Est. value
$470,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
1998
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Lot
0.27 ac
Current owner
From public records · entity-resolved
Saunterra LLC
Entity
Mailing address
66 GLENSHIRE LN, CHICO, CA 95973-5602
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 7, 2024
$595,000
Saunterra LLC
Dale Patrick Rasmussen
Grant Deed
$423,500 · Northern California National Bank
Dec 28, 2023
—
Dale Patrick Rasmussen
—
Deed
related
$440,000 · Banner Bank
Aug 23, 2013
$550,000
Dale P Rasmussen
Ike 1992 Family Trust
Grant Deed
$510,000 · Ike 1992 Family Trust (pt)
Jun 24, 2004
$246,000
Ike,tr
Ike,thomas E
Grant Deed
related
—
May 19, 2004
—
Thomas E Ike
Ike,melvin E & Carol J
Quit Claim Deed
related
—
Jun 18, 1996
—
Thomas E Ike
Ike,bonnie M
Quit Claim Deed
related
—
Jan 1, 1982
—
Ike,melvin E & Carol J Etal
—
Grant Deed
related
—
—
—
Thomas E Ike
—
Deed Of Trust
related
$144,202 · Ike Trust
—
—
Thomas E Eke
—
Deed Of Trust
related
$53,202 · Individual
—
—
Melvin E Ike
—
Deed Of Trust
related
$125,000 · Glen W Shols Md
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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