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$3,000,000
Est. payment /mo
2.13 Acres Lot
UPDATED:
11/07/2024 04:13 PM
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
MLS Listing ID 224123892
HOA Y/N No
Originating Board MLS Metrolist
Year Built 1999
Lot Size 2.130 Acres
Acres 2.13
Property Description
900 Fortress Street in Chico, CA consists of 27,760 square feet. The subject property is a three-tenant office building situated on 2.13 acres and conveniently located in the Chico Airport Industrial Park. The subject property was expertly built in 1999 and now being sold by the original developer. The tenant mix includes Clockshark (www.clockshark.com) who occupies 9,200 sqft, Able Kids who just signed a new 5 year lease in October 2024 for 10,200 sqft (www.ablekidsco.com), and one vacant suite of approximately 8,200 sqft. The improvements are built on slab foundation with stucco exterior and a metal roof. Fiber optic is also available at the property, which also benefits from a back-up generator. Each suite has package HVAC units while the vacant space has two newer mini-split systems. In-place income generates a 6.9% cap rate with the opportunity for a new owner to lease the 8,200 sqft space to realistically achieve a 10.52% cap rate.
Location
State CA
County Butte
Area 12550
Direction cohasset to chico airport
Location Details Airport Nearby,Professional Complex
Interior
Heating Varies by Unit
Cooling Varies by Unit
Flooring Other
Exterior
Parking Features Open
Utilities Available Other
Water Access Desc Other
Roof Type Metal
Building
Sewer Sewer Connected
Water Other
Others
Senior Community No
Tax ID 047-560-082
Special Listing Condition None
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Listed by Gravitas Commercial Real Estate
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Lance McHan
Broker Associate | License ID: 01987449
Broker Associate License ID: 01987449