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

    615 Mangrove Ave Chico, CA 95926

    • Retail space
    • 8,174 SF
    • 0.62 lot acres
    For Lease
    View listing
    Value Estimations
    $245,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-2286696
    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

    • Healthy U Pilates & Yoga / Pilates Studio
    • TopNotchz Nails and Spa / Nail Salon

    Property Details for 615 Mangrove Ave

    Year built
    2007
    Construction
    WOOD
    Lot size
    0.62 lot acres
    Property size
    8,174 SF
    Zone code
    CC
    Property type
    Retail space
    APN
    003-210-019-000
    APU
    3210019000

    Description

    This exceptional 2,000-square-foot retail space is located at 615 Mangrove Ave, Chico, CA 95926, in Butte County (APN 003210019000). Built in 2007, this single-tenant property sits on a 0.62-acre lot and features a prime corner location within Chico's thriving daily needs shopping area. The building, a one-story structure, is ideally situated at the highly visible intersection of Mangrove and Vallombrosa Avenues, offering excellent signage opportunities. Currently configured for a restaurant, the space includes an outdoor patio. Its strategic location places it directly across from established businesses like Chipotle and Rite Aid, and neighbors include Jersey Mike's, T-Mobile, Massage Envy, Gen Kai Sushi, and Brave Coffee. This is a rare opportunity to lease in the Shops at Mangrove, a newly marketed retail center. The landlord is offering attractive lease terms to support tenant success. The property's previous use as a restaurant provides a solid foundation for similar ventures, but the space is adaptable to a variety of retail uses. Don't miss this chance to secure a well-positioned retail space at a competitive price.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chico
    County
    Butte
    State
    California
    Longitude
    -121.836
    Latitude
    39.7347
    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
    $17,702
    $520,000
    $1,083,000
    $1,603,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $360,000
      9.74 Acres

      825 Ee Ave

      RETAIL STORES (PERSONAL SERVICES) • 9.74 Acres
      825 Ee Ave, Chico, CA 95926-1219
      View Details
    • Value Estimation
      $280,000
      0.17 Acres

      293 We Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.17 Acres
      293 We Ave, Chico, CA 95926-7202
      View Details
    • Value Estimation
      $555,000
      22,084 SF

      650 Mangrove Ave

      RETAIL STORES (PERSONAL SERVICES) • 22,084 SF
      650 Mangrove Ave, Chico, CA 95926-3947
      View Details
    • Value Estimation
      $900,000
      68,623 SF

      2201 Pillsbury Rd

      RETAIL STORES (PERSONAL SERVICES) • 68,623 SF
      2201 Pillsbury Rd, Chico, CA 95926-1363
      View Details
    • Value Estimation
      $230,000
      4,000 SF

      982 Ee Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      982 Ee Ave, Chico, CA 95926-1309
      View Details
    • Value Estimation
      $255,000
      2,390 SF

      575 Ee Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,390 SF
      575 Ee Ave, Chico, CA 95926-1215
      View Details

    Similar Nearby for Sale

    • $975,000
      6,599 SF

      Prime Chico Storefront Investment

      High-yield retail property, fully leased.
      1215 Mangrove Ave, Chico, CA 95926
      View Details
    • $968,600
      6,710 SF

      Downtown Chico Retail Gem

      Historic building, high-traffic location
      218 Main St, Chico, CA 95926
      View Details
    • Contact for pricing

      Automotive Dealership Opportunity in Chico

      Automotive dealership with mechanic shop and additional lot for sale.
      Cohasset Rd, Chico, CA 95926
      View Details
    • Contact for pricing
      470 SF

      Chico Retail Space - East Ave

      High-visibility retail space, freshly renovated. Ideal for owner-operator.
      575 Ave, Chico, CA 95926
      View Details
    • $275,000
      1,245 SF

      Updated Medical/Professional Office Suite

      Updated 1,245 SF medical/professional office suite for sale.
      383 Connors Ct, Chico, CA 95926
      View Details
    • $2,950,000
      20,000 SF

      Safari Inn Hospitality Investment

      51-room hotel with manager's quarters in Chico, California.
      2352 Esplanade, Chico, CA 95926
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      24,427 SF

      Chico Retail Pads - North Valley Plaza

      Prime Chico retail space, multiple pad options available.
      851 Cohasset Rd, Chico, CA 95926
      View Details
    • Contact for pricing
      31,558 SF

      Chico Retail Space: 31,558 SF

      Prime Chico retail space, ±31,558 SF, single tenant.
      2160 Pillsbury Rd, Chico, CA 95926
      View Details
    • $3,995 /Mo
      4,888 SF

      Chico Retail Lease Takeover Opportunity

      Prime retail space in Mangrove Plaza, ready for various businesses.
      938 Mangrove Ave, Chico, CA 95926
      View Details
    • $2,100 /Mo

      Freestanding Commercial Building For Rent

      Commercial building with great visibility, easy access, and ample parking.
      1725 Esplanade, Chico, CA 95926
      View Details
    • $1.89 SF/Yr
      1,200 SF

      Retail Space in Chico Center

      Retail space with excellent exposure and convenient highway access.
      240 W East Ave, Chico, CA 95926
      View Details
    • $12 SF/Yr
      67,456 SF

      Chico Retail Center Investment Opportunity

      Prime Chico retail space, multiple tenants
      2201 Pillsbury Rd, Chico, CA 95926
      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.
    615 Mangrove Ave
    Chico, CA 95926
    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.