350 Salem Street
Well-maintained downtown professional office bldg w/flexible buildout and available parking
Marketing description
Downtown commercial office space with parking! Located in the heart of Downtown Chico, just one block from Chico State, these properties offer on-site parking, a parking structure directly across the street and City Plaza just two blocks away. The buildings consist of multi-tenant office space with frontage on Salem Street. The larger building includes a highly sought-after paved, striped parking lot with approximately 13 spaces for downtown and university convenience.
Suite addresses: 350 Salem includes 5 suites with individual addresses of 330, 340, 344, 346 and 350 Salem Street.
• Construction Type: Wood Frame & Concrete Block
• Roof: TPO
• Zoning: OC (Office Commercial)) - The OC zoning district is applied to areas appropriate for administrative, financial, business, professional, medical, and public offices, together with supporting commercial uses. The density range for residential development within the OC district is 6 to a maximum of 20 dwelling units per acre. The OC zoning district is primarily intended to implement the Office Mixed Use land use designation of the General Plan.
• Just one block from California State University, Chico and downtown proper with a wide arrange of service and goods businesses
• Higher Education & Academic Exposure and Opportunity
• Close to Transit Station - Across From City Parking Structure
• Excellent Revitalization Opportunity
• 177 Feet of Street Frontage on Salem Street
Investment highlights
The property is an excellent owner/user opportunity. There are currently two short-term leases in place but the highest and best use will be stability with a few larger tenants or even one large tenant. The property was fully leased to PG&E for many years and is currently set up to be easily used by one larger operation. The central downtown location also makes this an excellent candidate for a redevelopment project which could include multi-family residential. It is also available with the adjacent parcel to increase a buyer's footprint.
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