$1,050,000
Redding, CA 96002
MLS# 19-5080
Status: Closed
12592 sqft
1 / 17
Property Description
National retailer, Harbor Freight Tools, has anchored this fully-leased building since 1993 with several years remaining on current lease term. Two additional smaller tenants occupy the upstairs offices. Great investment property with excellent cash flow.
Details
Maps
Address Information
Cross Street: Lawrence Street
Street Number: 1175
Street Name: Hartnell Ave
State/Province: CA
Postal Code: 96002
County: Shasta
Property Description
List Price: 1200000
Parcel Number: 068-400-021
Sq Ft - Building: 12592
SqFt - Bldg Rentable: 12592
Sq Ft - Lot: 0.91
GP Zone: RED GC - General Commercial
Zoning: RED - C-2 - Central Commericial District
Year Built Desc: 30+
Current Price: $1,050,000
Area: 03 - SE Redding
Remarks
Public Remarks: National retailer, Harbor Freight Tools, has anchored this fully-leased building since 1993 with several years remaining on current lease term. Two additional smaller tenants occupy the upstairs offices. Great investment property with excellent cash flow.
Directions: Drive east on Hartnell past Four Corners (Churn Creek and Hartnell).
Business Type
Office: 1
Retail: 1
Warehouse: 1
Sub Zoning
Conforming: 1
Present Use
Manufacturing: 1
Office: 1
Retail: 1
Warehouse: 1
Exterior
Stucco: 1
Metal: 1
Roof
Metal: 1
Floors
Concrete: 1
Tile: 1
Wall to Wall Carpet: 1
Parking
Off Street: 1
# Off Street Spaces: 49
Lease Type
Modified Gross: 1
Miscellaneous
Signage: 1
Truck Door: 1
Lease Term
1 - 2 years: 1
3 - 5 Years: 1
Addl Lease Info
# of Tenants: 3
# Months Remaining: 47
Utilities
110V: 1
Gas: 1
Public Water: 1
Separate Meter: 1
Sewer: 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 $: 118673
Operating Expenses $: 38746
Net Income $: 79926
Cap Rate: 6.7
Contract Information
Status: Closed
Sold Date: 2020-01-10
Under Contract Date: 2019-12-12
Sold Price: $1,050,000
List Date: 2019-09-19
Property Features
Business Type: Office; Retail; Warehouse
Present Use: Manufacturing; Office; Retail; Warehouse
Parking: Off Street
Sub Zoning: Conforming
Exterior: Metal; Stucco
Roof: Metal
Lease Term: 1 - 2 years; 3 - 5 Years
Lease Type: Modified Gross
Expense Data Source: Owner Actual
Floors: Concrete; Tile; Wall to Wall Carpet
Miscellaneous: Signage; Truck Door
Utilities: 110V; Gas; Public Water; Separate Meter; Sewer
Photo: Agent Upload
Possession: Close of Escrow
Selling Terms: Cash
Supplements
The building has a multi-suite floor plan including 7 private offices, 4 bathrooms, and a large open retail space. It is located near the corner of Hartnell and Churn Creek with excellent visibility.
Roof was recently recoated and landscaping and irrigation are new this year.
Presently the building is fully occupied with longstanding tenants.
IDX
Listing Office: Cox Real Estate Consultants, INC.
Last Updated: August - 31 - 2024
Information deemed reliable but not guaranteed.