605 -615 Mangrove Avenue, Chico, CA 95926 - Berkshire Hathaway HomeServices California Properties
Phone310-890-6928
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605 -615 Mangrove Avenue, Chico, CA 95926

$2,999,000 Approx. USD 0 beds, 0 baths

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Listing Agent


Michael Donnelly | mike@cbcnorcal.com
Lic#: 01429436
Broker: Courtesy of Coldwell Banker C&C Properties

Co Listing Agent


Brian Littrell | blittrell@gmail.com
Lic#: 01350075
Broker: Courtesy of Coldwell Banker C&C Properties

Agent Remarks

The MOTHER OF ALL PRICE REDUCTIONS. REDUCED BY $700,000. MAKE OFFER NOW! The Shops at Mangrove are located in the heart of Chico at the gateway to downtown and California State University, Chico. This is one of the city's most attractive retail centers directly across from Chipotle, Rite Aid and the Safeway anchored Park Plaza Shopping Center. This is a daily needs drive by location at the corner of Mangrove & Vallombrosa, with a combined traffic count of more than 35,000+ vehicles per day. Within walking distance to Chico Junior High, Chico State and Chico High School. The center consists of three separate buildings on two parcels. Two of the buildings at 605 Mangrove (Parcel 003-210-018) are a leasehold interest with a long term ground lease. The third building at 615 Mangrove (Parcel 003-210-019) is on a fee parcel. The ground lease has approximately 41 years of control remaining including options. The leasehold interest vs fee ownership allows an investor to own a newer quality center at a higher than average cap rate compared to comparable quality assets in California.

Listing Details

Property type: Retail (Commercial)
Status: Active
MLS# SN23086931
List price is $2,999,000 Reduced by $700,000 on 1/22/2025
Price: $2,999,000
Built in 2007
1.82 acres
Lot size: 1.8200
County: Butte
Lot description: Street Level

Last Updated: 1/22/2025

 Days On Market (DOM): 718

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Lat/Long: 39.734169, -121.836295.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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Jesse Hlubik REALTOR® - Sales Associate 310-890-6928 m
310-890-6928 o
Lic#: 01801928
NRDS ID: 207054480
Jesse@HomeSearchLA.com
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