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10.52% Cap Rate Upon Lease-Up 900 Fortress St

27,760 SF 71% Leased Office Building Chico, CA 95973 $4,219,200 CAD ($152 CAD/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

Gravitas Commercial Real Estate is pleased to present 900 Fortress Street in Chico, CA. Consisting 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.

Please reach out to Marc Guillon for the offering memo.

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
27,760 SF
Building Class
C
Year Built
1999
Price
$4,219,200 CAD
Price Per SF
$152 CAD
Cap Rate
6.90%
NOI
$291,125 CAD
Percent Leased
71%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
27,760 SF
Building FAR
0.30
Land Acres
2.13 AC
Zoning
Airport Commercial
Parking
41 Spaces (1.48 Spaces per 1,000 SF Leased)

Amenities

  • Signage

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 1st Fl-Ste 190
  • 8,170 SF
  • Office
  • Shell Space
  • 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.

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

PROPERTY TAXES

Parcel Number
047-560-082-000
Land Assessment
$353,911 CAD
Improvements Assessment
$3,234,747 CAD
Total Assessment
$3,588,659 CAD
  • Listing ID: 33780296

  • Date on Market: 2024-11-06

  • Last Updated:

  • Address: 900 Fortress St, Chico, CA 95973

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