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    3028 Esplanade Chico, CA 95973-4924

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    Property profile & analytics

    3028 Esplanade Chico, CA 95973-4924

    View on Map
    • Retail space
    • 24,142 SF
    • 1.07 lot acres
    Off-Market
    Last Sale Aug 10, 2021
    $1,300,000
    Property ID
    US09-0079632
    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
    $1,155,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ambiance Antiques / Home Decor Store / (Bike/Boat/Book/etc) Store
    • Smash House / DJ & Entertainment / Business Service Center
    • Pure Water Pools / (Bike/Boat/Book/etc) Store / Hardware & Home Improvement
    • Need Direct / Building Supply / Hardware & Home Improvement
    • Attaboy Plumbing, Drains, & Water Heater Specialists / Plumbing Service / General Contractor

    Property Details for 3028 Esplanade

    Year built
    1992
    Construction
    STEEL FRAME
    Lot size
    1.07 lot acres
    Property size
    24,142 SF
    Zone code
    C2
    Property type
    Retail space
    APN
    006-380-004-000
    APU
    6380004000

    Description

    This exceptional 1,200 square foot mixed-use retail space is ideally situated at 3028 Esplanade, Unit D, Chico, CA 95973. Built in 1992, this single-story building sits on a substantial 46,609 square foot lot and is zoned C2, offering significant flexibility for a variety of commercial uses. Currently configured as a salon, the property boasts an open main area perfect for customer interaction, a dedicated waiting area for client comfort, two private rooms providing versatile space for consultations or specialized services, and a convenient restroom. The adaptable layout makes it suitable for a range of businesses, from retail shops to offices, easily accommodating diverse operational needs. Its location on Chico's bustling Esplanade ensures high visibility and significant foot traffic, placing your business in the heart of a thriving commercial district. The property's proximity to other shops and restaurants further enhances its appeal, providing a synergistic environment for attracting customers. This presents a unique opportunity for businesses seeking a prominent location in a vibrant and growing Chico neighborhood. The property's Assesor's Parcel Number (APN) is 006380004000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $760,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $897,000
      Market price range: $854k - $3.37M

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

    Location Insight

    • Map
    • Local Demand
    City
    Chico
    County
    Butte
    State
    California
    Longitude
    -121.869
    Latitude
    39.7652
    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
    $21,928
    $401,928
    $1,339,784
    $1,741,712
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.46 Acres

      Panama Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.46 Acres
      Panama Ave, Chico, CA 95973
      View Details
    • Value Estimation
      $505,000
      3,086 SF

      2804 Esplanade

      RETAIL STORES (PERSONAL SERVICES) • 3,086 SF
      2804 Esplanade, Chico, CA 95973-0217
      View Details
    • Value Estimation
      $2,740,000
      15,048 SF

      13320 Garner Ln

      RETAIL STORES (PERSONAL SERVICES) • 15,048 SF
      13320 Garner Ln, Chico, CA 95973-9290
      View Details
    • Value Estimation by Request
      1,750 SF

      2607 Esplanade

      RETAIL STORES (PERSONAL SERVICES) • 1,750 SF
      2607 Esplanade, Chico, CA 95973-1112
      View Details
    • Value Estimation by Request
      3,237 SF

      3035 Esplanade

      RETAIL STORES (PERSONAL SERVICES) • 3,237 SF
      3035 Esplanade, Chico, CA 95973-0220
      View Details
    • Value Estimation
      $1,310,000
      15,717 SF

      3314 State Hwy 32

      RETAIL STORES (PERSONAL SERVICES) • 15,717 SF
      3314 State Hwy 32, Chico, CA 95973
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      27,733 SF

      Chico Automotive/Retail Opportunity

      27,733 SF facility on 1.94 acres suitable for various uses.
      2520 Cohasset Rd, Chico, CA 95973
      View Details
    • Contact for pricing
      27,733 SF

      Commercial Property in High-Traffic Area

      Commercial property with mechanic shop and ground lease potential.
      2520 Cohasset Rd, Chico, CA 95973
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      Automotive Dealership Opportunity in Chico

      Automotive dealership with mechanic shop in a vibrant location.
      2522 Cohasset Rd, Chico, CA 95973
      View Details

    Similar Nearby for Lease

    • $4,975 /Mo
      6,815 SF

      Retail and Warehouse/Flex Space

      Retail and warehouse/flex space available for lease.
      3388 State Highway 32, Chico, CA 95973
      View Details
    • Contact for pricing

      Prime Retail Space in Chico

      Well-positioned shopping center near major retailers and future health facility.
      118 W East Ave, Chico, CA 95973
      View Details
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    3028 Esplanade
    Chico, CA 95973-4924
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    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
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