605 -615 Mangrove Avenue, Chico, CA 95926
Commercial property
Sold October 2025
Listing Agent: Michael Donnelly (DRE #01429436) · Listing Office: Commercial Brokers of California · Contact: 530-828-0011 · Bought with: Michael Donnelly · Commercial Brokers of California · MLS #SN23086931 · Source: CRMLS
About this commercial property
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 description from the October 2025 sale, as reported to CRMLS.
Sale history