$1,100,000
Redding, CA 96001
MLS# 24-2143
Status: Closed
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Property Description
Positioned in the thriving Redding area, this impressive office building spans 3,905 square feet and features a single, fully occupied building. With a strong medical tenant, this property presents a compelling investment opportunity for commercial real estate investors. Boasting high end design elements and well-maintained facilities, this asset is poised to deliver a strong and consistent return. Its strategic location provides visibility and accessibility, ensuring long-term appeal for tenants and potential for continued growth. Don't miss the chance to add this high-performing property to your portfolio and benefit from the stability and potential it offers in the dynamic Redding market.
Details
Maps
Address Information
Cross Street: Buenaventura Blvd
Street Number: 3652
Street Name: Eureka Way
State/Province: CA
Postal Code: 96001
County: Shasta
Property Description
List Price: 1200000
Parcel Number: 103-570-008-000
Sq Ft - Building: 3905
SqFt - Bldg Rentable: 3905
Sq Ft - Lot: 32670
GP Zone: RED GO - General Office
Zoning: RED - C-O - Office District
Year Built Desc: 21-30 Years
Current Price: $1,100,000
Area: 01 - NW Redding
Year Built: 2002
Remarks
Public Remarks: Positioned in the thriving Redding area, this impressive office building spans 3,905 square feet and features a single, fully occupied building. With a strong medical tenant, this property presents a compelling investment opportunity for commercial real estate investors. Boasting high end design elements and well-maintained facilities, this asset is poised to deliver a strong and consistent return. Its strategic location provides visibility and accessibility, ensuring long-term appeal for tenants and potential for continued growth. Don't miss the chance to add this high-performing property to your portfolio and benefit from the stability and potential it offers in the dynamic Redding market.
Directions: Nearby Whiskeytown Lake provides outdoor recreational opportunities, while the renowned Sundial Bridge and Turtle Bay Exploration Park offer cultural enrichment.
Contract Information
Listing Contract Date: 2024-04-30
Status: Closed
Sold Date: 2024-06-28
Under Contract Date: 2024-05-31
Sold Price: $1,100,000
List Date: 2024-05-16
Business Type
Office: 1
Present Use
Office: 1
Parking
Off Street: 1
Possession
Close of Escrow: 1
Selling Terms
Cash: 1
Property Features
Business Type: Office
Present Use: Office
Parking: Off Street; Off Street
Possession: Close of Escrow
Selling Terms: Cash
Supplements
Secure Investment with Long-Term Tenant: This stand-alone building is leased to Paradigm Clinical Research under a secure Triple Net (NNN) lease agreement. Signed in September 2021, the initial lease term extends to August 2026, with built-in rent increases of 3% annually. Additionally, Paradigm has the right to extend the lease for three more 5-year terms, offering continued stable income and potential for further rent growth.
About tenant; https://www.paradigm-research.com/about-us
See documents section for brochure.
IDX
Listing Office: Capital Rivers Commercial
Last Updated: September - 27 - 2024
Information deemed reliable but not guaranteed.
