Entity Owned 
For Sale
1 / 38
$635,000
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
Current use
Occupant on record · Public records
-
Family Recreation Center
-
Vocational School Training Center
Location
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
since 2024
Last sale
$595,000
7 recorded transactions
Zoning & alternative use
R3 · Chico, CA
Zoning description
R3 Medium-High Density Residential Medium-High Density Residential (MHDR) - 14.1 to 22 units per gross acre R4 High Density Residential High Density Residential (HDR) - 20 to 70 units per gross acre RMU Residential Mixed…
General category
RESIDENTIAL
Top alternative use upside
Commercial (general)
$860,000
+81.0%
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.
Full NOI build-up · 6 steps
All 3 comparables with addresses
3 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
$595k
Value range
$536k – $655k
±10% around blend
Estimated value / SF
$194 / SF
Confidence
Low
3 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
30
Income certainty
100
$536k
blend $595k
$655k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,070 SF
Lot area
0.27 ac
Year built
1998
APN
007-220-023-000
Zoning
R3
Assessed value
$660,994
Annual tax
$7,327
3
Income approach: direct capitalization
Partial preview
Income approach indication
$535k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$580k
@ 6.5% CAP return
$535k
@ 7% CAP return
$495k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$7,327
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$479k
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
12.6 mi away · 2,730 SF
18.4 mi away · 3,500 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$595k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 44 sales
$155
+25%
Submarket 164 sales
$173
+12%
County 225 sales
$151
+28%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $194/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
+81%
vs current-use indication
Office Building · current use
Retail Stores
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
Market benchmark
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
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
5.80%
Selected cap rate for this office buildings
Derived from the Chico market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.80%
9.0%
NOI (est.)
$32k *
Last sale · Oct 2024
$595k
* 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$560k
Move the market yield to see immediate price impact.
Value / SF
$182
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
5.30%5.80%6.30%
$29k
$552k
$504k
$464k
$32k
$613k
$560k
$516k
$36k
$674k
$616k
$567k
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
4.4 mi · Nov 2025 · $180/SF
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
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
For Sale
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, CAZoning R3 · permitted uses
R3 · Chico, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
R3 Medium-High Density Residential Medium-High Density Residential (MHDR) - 14.1 to 22 units per gross acre R4 High Density Residential High Density Residential (HDR) - 20 to 70 units per gross acre RMU Residential Mixed…
General category
RESIDENTIAL
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
1998
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Lot
0.27 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
R3
RESIDENTIAL
Jurisdiction
Chico, CA
Recorded code
R3
Official district
R3
Official district profile
What the municipal code says about R3
Zoning description
R3 Medium-High Density Residential Medium-High Density Residential (MHDR) - 14.1 to 22 units per gross acre R4 High Density Residential High Density Residential (HDR) - 20 to 70 units per gross acre RMU Residential Mixed…
General category
RESIDENTIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for R3 in Chico, CA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
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?”
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
