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10.52% Cap Rate Upon Lease-Up 900 Fortress St
27,760 SF 71% Leased Office Building Chico, CA 95973 $3,000,000 ($108/SF) 6.90% Cap Rate
Investment Highlights
- Offered at $108/Ft
- Realistic 10.5% Cap Rate Upon Lease-Up of Vacant Space
- Back-Up Generator
- Built in 1999
- Ample Parking
- Mature Landscaping
Executive Summary
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.
Please reach out to Marc Guillon for the offering memo.
Property Facts
Amenities
- Signage
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Office space for lease next to the Chico Airport, offering 8,170 square feet of versatile, customizable space with tenant improvements available for qualified tenants. Available option to expand into neighboring suite up to 16,000 square feet, this modern office is designed to grow with your business. Enjoy the convenience of a location and tailor the space to fit your specific needs. Space includes multi stall bathrooms, kitchenette, large storage area with double doors and Generac backup generator. Contact us today to explore this exceptional leasing opportunity.
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 190 | 8,170 SF | Office | Shell Space | Now |
1st Fl-Ste 190
| Size |
| 8,170 SF |
| Space Use |
| Office |
| Condition |
| Shell Space |
| Available |
| Now |
1st Fl-Ste 190
| Size | 8,170 SF |
| Space Use | Office |
| Condition | Shell Space |
| Available | Now |
Office space for lease next to the Chico Airport, offering 8,170 square feet of versatile, customizable space with tenant improvements available for qualified tenants. Available option to expand into neighboring suite up to 16,000 square feet, this modern office is designed to grow with your business. Enjoy the convenience of a location and tailor the space to fit your specific needs. Space includes multi stall bathrooms, kitchenette, large storage area with double doors and Generac backup generator. Contact us today to explore this exceptional leasing opportunity.
PROPERTY TAXES
| Parcel Number | 047-560-082-000 | Improvements Assessment | $2,319,364 |
| Land Assessment | $253,760 | Total Assessment | $2,573,124 |
PROPERTY TAXES
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Marc Guillon - Gravitas Commercial Real Estate
Presented by
Gravitas Commercial Real Estate
10.52% Cap Rate Upon Lease-Up | 900 Fortress St
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