400 Park AveChico, CA 95928

Property Details for 400 Park Ave

Year built

1987

Construction

TILT-UP CONCRETE

Lot size

4.41 AC

Property size (Sq ft)

39,955 SF

Property type

Office properties

Property subtype

Office buildings

APN

005-500-031-000

APU

5500031000

Description

This exceptional 40,947-square-foot commercial property presents a unique opportunity in Chico's thriving market. Situated on a 4.41-acre lot, this Class B building offers a versatile blend of office and distribution space, ideal for a variety of businesses. Built in 1987, the two-story structure features a single tenancy, with the entire space currently vacant. The property boasts approximately 22,797 square feet of office space, complemented by a 14,168-square-foot warehouse. A 1,300-square-foot centralized access hallway connects these areas, enhancing efficiency. Additional features include a 2,682-square-foot mezzanine level with office space and restrooms, two loading docks, and ample parking for 130 vehicles. The property also includes approximately 42,000 square feet of yard space, providing significant flexibility for storage or outdoor operations. Two large backup generators ensure reliable power. The property is zoned CS Services Commercial and conveniently located near Highway 99, offering excellent accessibility. The address is further identified by its cross street, Dr. Martin Luther King Jr. Pkwy, and its Assessor's Parcel Number (APN) is 005-500-031. This property is located in the Chico submarket. This is a rare opportunity to acquire a substantial, versatile property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $7,200,775

  6.5%

  $6,646,869

  7%

  $6,172,092

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,704,775

  Geo Method

  $5,704,775

• Alternative Use

  Use

  Valuation

  Residential

  $8,242,118

  Hospitality

  $7,549,736

  Educational

  $6,281,292

  Medical

  $6,497,314

  Retail

  $9,770,898

Location Insight

City

Chico

County

Butte

State

California

Latitude

39.7158

Longitude

-121.807

CBSA code

17020

CBSA name

CHICO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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