Fully Occupied Professional Office Investment In High Profile Redding Business Park

Highlights

• - 15,132 SF multi-tenant office building
• - Prime Location, easily accessible from Interstate 5
• - 52 Off Street Parking Spaces (ratio at 3:1,000 sq ft)
• - 100% Leased (no vacancy)
• - Priced at $175 per sq ft
• - Cap Rate of just under 6.1% based on actual income

Description

Situated in the esteemed Redcliff Business Park in the center of Redding, CA, this 15,132 SF office building is 100% leased by 3 separate tenants:

- 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.

The Cap Rate with stabilized expenses is just under 6.1%. Priced at $175 per sq ft, this fully leased investment opportunity is well below replacement cost and comparable building sales in the market. Rental rates considered to be below market, providing upside potential for the next owner.

Additionally, the building includes, 52 parking spaces at a ratio of three spaces per 1,000 sq ft.

Ideally located in the center of Redding just off of Interstate 5 via the Cypress Avenue exit. Southwest corner of the intersection of Knollcrest Dr, and Hemsted Dr.