Fully-Leased Investment

Highlights

• Current rental rates are considered below market, presenting opportunities for growth and increased returns for the next owner..
• Competitively priced at $175 per square foot, below replacement cost and comparable sales.
• 52 off-street parking spaces supporting tenant and client convenience.
• Cap Rate of just under 6.1% based on actual income

Description

Fully-leased multi-tenant investment property in Redding’s Redcliff Business Park. Priced at $175 per square foot, this property offers a competitive investment below both replacement cost and comparable market sales, with current rental rates below market, providing future growth potential. The property includes 52 off-street parking spaces, a convenient ratio of three spaces per 1,000 square feet, making it accessible and attractive to tenants and their clients.

- Suite 100: Lease continues through March 2028, with two, three-year options to extend.
- Suite 130: Lease continues through September 2027, with one, three-year option to extend.
- Suite 140B: Lease continues through January 2028, with one, five-year option to extend.

These leases present an excellent diversification of tenant businesses. This property brings in an annual gross income of $263,105 for 2024.

Located in the established Redcliff Business Park in central Redding, CA, this ±15,132 square foot office building is fully leased to three long-term tenants, including Community Medical Management Services, Bristol Hospice, and Associa. Each tenant has lease terms extending through 2027 or beyond, with options to renew, ensuring stable income and business diversification.

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