1215 Mangrove AveChico, CA 95926

Property Details for 1215 Mangrove Ave

Year built

1978

Construction

TILT-UP CONCRETE

Lot size

0.21 AC

Property size (Sq ft)

6,599 SF

Zone code

C1

Property type

Office properties

Property subtype

Office buildings

APN

003-451-021-000

APU

3451021000

Description

This exceptional commercial investment opportunity presents a fully leased storefront property located at 1215 Mangrove Avenue in Chico, California. The property boasts a total of 6,599 square feet, divided into three individual commercial units, all currently under lease. Built in 1978, this single-story building sits on a 9,148 square foot lot (APN: 003451021000) and offers a compelling 6.75% capitalization rate. The asking price is $975,000, translating to a price per square foot of $148. Situated on a vibrant stretch of Mangrove Avenue between 1st and 3rd Avenues, this property benefits from exceptionally high traffic counts, exceeding 21,000 vehicles daily. The location is further enhanced by its proximity to successful businesses such as Great Harvest Bread, Popeyes Louisiana Kitchen, and Jiffy Lube, contributing to a thriving commercial environment. This property represents a strong investment opportunity with a stable income stream and significant potential for future growth. Tenants should not be disturbed.

• CAP approach

  CAP return

  Valuation

  6%

  $1,189,286

  6.5%

  $1,097,802

  7%

  $1,019,388

• Comparable approach

  Method

  Valuation

  Relative Method

  $942,205

  Geo Method

  $942,205

• Alternative Use

  Use

  Valuation

  Residential

  $1,361,275

  Hospitality

  $1,246,920

  Educational

  $1,037,423

  Medical

  $1,073,102

  Retail

  $1,613,769

Location Insight

City

Chico

County

Butte

State

California

Latitude

39.7422

Longitude

-121.839

CBSA code

17020

CBSA name

CHICO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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