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

    663 Edith Ave Corning, CA 96021-2343

    • Commercial real estate
    • 864 SF
    • 4.23 lot acres
    OFF-MARKET
    Last Sale
    Jan 05, 2024
    $1,600,000
    Value Estimations
    $1,600,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2086611
    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

    • Grocery Outlet / Grocery Store / Organic Food Store

    Property Details for 663 Edith Ave

    Year built
    1948
    Construction
    WOOD
    Lot size
    4.23 lot acres
    Property size
    864 SF
    Property type
    Commercial real estate
    APN
    071-080-021-000
    APU
    71080021000

    Description

    This exceptional investment opportunity presents a 16,063 square foot Grocery Outlet in Corning, CA, a thriving retail corridor. The property boasts a 14.5-year remaining lease term (commencing December 15, 2023 and expiring December 31, 2038) with a corporate guarantee from Grocery Outlet, a publicly traded company (NASDAQ: GO). The net lease structure (NN+) provides a stable income stream with a current NOI of $389,000 and a 5.50% cap rate. The asking price is $7,073,000. Built in 2023, the property benefits from built-in rent bumps. Its prime location near a signalized intersection on Edith Avenue offers easy access to Interstate 5 (31,500 AADT), maximizing exposure to significant commuter traffic. Synergistic adjacency to a new Dutch Bros drive-thru further enhances its appeal. The property is surrounded by other established national and regional retailers, including Safeway, Burger King, Taco Bell, Subway, and Dollar Tree, creating a dense retail environment. A substantial customer base of 43,020 residents resides within a 15-mile radius. This property is ideal for a 1031 exchange.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,600,000
      ML approach
      $1,600,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Corning
    County
    Tehama
    State
    California
    Longitude
    -122.196
    Latitude
    39.9294
    CBSA code
    39780
    CBSA name
    RED BLUFF, CA MICROPOLITAN 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
    2023
    $8,217
    $783,000
    $0.00
    $783,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $405,000
      5,000 SF

      2900 Barham Ave

      COMMERCIAL (GENERAL) • 5,000 SF
      2900 Barham Ave, Corning, CA 96021
      View Details
    • Value Estimation
      $310,000
      1,633 SF

      5620 Grange Rd

      COMMERCIAL (GENERAL) • 1,633 SF
      5620 Grange Rd, Corning, CA 96021
      View Details
    • Value Estimation
      $260,000
      0.49 Acres

      747 Edith Ave

      COMMERCIAL (GENERAL) • 0.49 Acres
      747 Edith Ave, Corning, CA 96021
      View Details
    • Value Estimation
      $185,000
      2.50 Acres

      Corning, CA 96021

      COMMERCIAL (GENERAL) • 2.50 Acres
      Corning, CA 96021
      View Details
    • Value Estimation by Request
      26.50 Acres

      2625 99 Hwy

      Land • 26.50 Acres
      2625 99 Hwy, Corning, CA 96021
      View Details
    • Value Estimation by Request
      3.71 Acres

      Carona Ave

      Land • 3.71 Acres
      0 Carona Ave, Corning, CA 96021
      View Details

    Similar Nearby for Sale

    • $450,000

      Prime Corning Hwy 99 Frontage

      Highway 99 commercial land, $450,000
      2761 Hwy 99w, Corning, CA 96021
      View Details
    • $550,000
      5,000 SF

      Historic Corning Commercial Building

      Prime Location, Versatile Spaces, Updated Elevator
      618 4Th St, Corning, CA 96021
      View Details
    • $279,000
      13.39 Acres

      13.39 Acres Corning Commercial Land

      Prime Agricultural & Residential Land
      24525 Rowland Ln, Corning, CA 96021
      View Details
    • $449,000
      3.71 Acres

      Prime Corning Commercial Land

      I-5 Corridor, 3.71 Acres, High Traffic
      Corona Ave, Corning, CA 96021
      View Details
    • Contact for pricing
      1,900 SF

      Corning Dental Office Space For Lease

      Established Dental Practice - Turnkey Opportunity
      480, Corning, CA 96021
      View Details
    • $300,000
      2,087 SF

      Corning Restaurant & Land Sale

      Established Restaurant, 1.46 Acres, C-1 Zoning
      17602 Stagecoach Rd, Corning, CA 96021
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,058 SF

      Corning Retail Space Available

      ±1,058 sq ft Retail/Office Space
      950 Hwy 99, Corning, CA 96021
      View Details
    • Contact for pricing

      High Visibility Commercial Land Opportunity

      Commercial land with high visibility and freeway access in Corning, CA.
      Corning Rd, Corning, CA 96021
      View Details
    • $4,500 /Mo

      Spacious Industrial Complex in Corning

      Over 30,000 sq ft industrial space for lease.
      1575 East St, Corning, CA 96021
      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.
    663 Edith Ave
    Corning, CA 96021-2343
    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.