Property profile

300 Salem St Chico, CA 95928

OFF-MARKET
Office buildings
Property ID
US09-1435737
5,804 SF 0.18 ac lot Built 1958
Individually Owned 5-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

In Downtown Chico, the property is a net-leased, single-story office building on the corner of 3rd and Salem Streets, configured as a two-tenant facility. The building has been recently remodeled and includes two separate units: Unit 1 is approximately 3,700 square feet and includes 11 private offices, open workstation space for more than 12 people, a large conference/event room, a staff lounge, four private restrooms, a built-in reception and waiting area, main-floor and attic storage accessible by stairs, and a private parking area. Unit 2 is approximately 2,100 square feet and includes a reception/waiting area, four private offices, two open workspaces, restrooms, and a break room. The building uses an engineered glass system and office window line for natural light, and each unit has separate utility meters, separate bathrooms, and entrances on Salem Street.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1958
Construction TILT-UP CONCRETE
Total area 5,804 SF
Lot 0.18 ac (7,840 SF)
Zoning code CC
APN 004-131-003-000
UPID US09-1435737

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
  • Logistics Company Freight Service
  • Loan Service Bank
  • Loan Service Bank
  • Loan Service Bank
  • Loan Service Bank

Location

300 Salem St Chico, CA 95928-5331
Chico metro Census 1000 CHICO, CA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$870k
CAP Approach CAP
$1.01M
Comparable Approach Comparable
$1.14M
Blend (final) Blend
$845k

Owner & transaction history

since 2021
Last sale
$1.1M
5 recorded transactions
2021
$1.1M
2017
$4.1M
2007
Price N/A
1983
Price N/A
1979
$34,500

Zoning & alternative use

CC · Chico, CA
Zoning description

CC Community Commercial Commercial Mixed Use (CMU) (6 to 22 units per gross acre) DN DS Downtown North Downtown South Commercial Mixed Use (CMU) (6 to 22 units per gross acre CS Commercial Services Commercial Services (C…

General category MIXED_USE
Top alternative use upside
Commercial (general) $1.6M +57.5%
Apartment house (5+ units) $1.2M +20.6%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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