$1,173,861
Redding, CA 96001
MLS# 19-4588
Status: Closed
11350 sqft
1 / 22
Property Description
Great cash flow and a 7.9% cap rate! Fully leased through September 2022 with excellent tenant. Free-standing 11,350 square foot professional office building. Located in Downtown Redding where there is more than $300 million in construction projects underway. Private, off-street parking. New roof in 2018, fully remodeled in 2005.
Details
Maps
Address Information
Cross Street: West Street
Street Number: 1880
Street Name: Shasta St
State/Province: CA
Postal Code: 96001
County: Shasta
Property Description
Type: x
List Price: 1250000
Parcel Number: 101-150-053 and 054
Lot Dim or Acres: .59
Sq Ft - Building: 11350
GP Zone: RED GC - General Commercial
Zoning: See Remarks
Year Built Desc: Unknown
Current Price: $1,173,861
Area: 01 - NW Redding
Remarks
Public Remarks: Great cash flow and a 7.9% cap rate! Fully leased through September 2022 with excellent tenant. Free-standing 11,350 square foot professional office building. Located in Downtown Redding where there is more than $300 million in construction projects underway.
Private, off-street parking. New roof in 2018, fully remodeled in 2005.
Directions: NE corner of Shasta St and West St.
Business Type
Office: 1
Sub Zoning
Conforming: 1
Present Use
Office: 1
Exterior
Stucco: 1
Wood: 1
Block: 1
Roof
Other: 1
Floors
Wall to Wall Carpet: 1
Parking
# Off Street Spaces: 31
Lease Type
Modified Gross: 1
Miscellaneous
Burglar Alarm: 1
Addl Lease Info
# of Tenants: 1
# Months Remaining: 30
Utilities
110V: 1
Master Meter: 1
Public Water: 1
Sewer: 1
Telephone: 1
Available Terms
All Cash to Seller: 1
Cash: 1
Expense Data Source
Owner Actual: 1
Heat/Cool
Central Air: 1
Central Heat: 1
Possession
Close of Escrow: 1
Photo
Agent Upload: 1
Selling Terms
Cash: 1
Financial Info
Complete Package: Yes
Gross Income $: 150754
Operating Expenses $: 52288
Net Income $: 98465
Cap Rate: 7.9
Contract Information
Status: Closed
Sold Date: 2021-02-10
Under Contract Date: 2021-01-13
Sold Price: $1,173,861
List Date: 2019-08-23
Property Features
Business Type: Office
Present Use: Office
Sub Zoning: Conforming
Exterior: Block; Stucco; Wood
Roof: Other
Lease Type: Modified Gross
Expense Data Source: Owner Actual
Floors: Wall to Wall Carpet
Miscellaneous: Burglar Alarm
Utilities: 110V; Master Meter; Public Water; Sewer; Telephone
Available Terms: All Cash to Seller; Cash
Photo: Agent Upload
Possession: Close of Escrow
Selling Terms: Cash
Supplements
Includes an industrial sized kitchen, 40 private offices, 3 sets of men's and women's restrooms, 2 conference rooms, 5 entrances and access ramp. Easily split into two suites. Zoning is GC-VR
IDX
Listing Office: Cox Real Estate Consultants, INC.
Last Updated: August - 31 - 2024
Information deemed reliable but not guaranteed.
