$4,900,000
Redding, CA 96001
MLS# 21-2909
Status: Closed
25308 sqft
1 / 9
Property Description
Fully leased recently constructed mixed use building available for sale in an Opportunity Zone in downtown Redding, CA. This 2 story 25,308 square foot building was constructed in 2015 by an owner occupant looking to build a more efficient space for their business and invest in downtown Redding. Formerly the site of the Greyhound Bus Station, this property is ideally located in the heart of downtown Redding at the corner of Butte and Pine Streets with high traffic counts nearing 12,000 cars per day and great visibility. Designed by Scott Gibson Architect, Inc. and constructed by Stuart James Construction, Inc., the building was designed and built with quality in mind and a great attention to detail. The tenant mix includes 2 residential apartments, multiple offices, retail space, ...
Details
Maps
Address Information
Cross Street: Pine Street
Street Number: 1321
Street Name: Butte St
State/Province: CA
Postal Code: 96001
County: Shasta
Property Description
List Price: 5000000
Parcel Number: 101-790-004
Sq Ft - Building: 25308
GP Zone: RED GC - General Commercial
Zoning: Redding DMUD-SP-BH Downtown Specific Plan Mixed Use Building Height
Year Built Desc: 06-10 Years
Current Price: $4,900,000
Area: 04 - SW Redding
Year Built: 2015
Remarks
Public Remarks: Fully leased recently constructed mixed use building available for sale in an Opportunity Zone in downtown Redding, CA. This 2 story 25,308 square foot building was constructed in 2015 by an owner occupant looking to build a more efficient space for their business and invest in downtown Redding. Formerly the site of the Greyhound Bus Station, this property is ideally located in the heart of downtown Redding at the corner of Butte and Pine Streets with high traffic counts nearing 12,000 cars per day and great visibility. Designed by Scott Gibson Architect, Inc. and constructed by Stuart James Construction, Inc., the building was designed and built with quality in mind and a great attention to detail. The tenant mix includes 2 residential apartments, multiple offices, retail space, ...
Directions: Ideally located in an Opportunity Zone in the direct center of downtown Redding, CA at the corner of Pine and Butte Streets. Pine Street is all state highway 273 and the building directly next door.
Business Type
Office: 1
Present Use
Office: 1
Parking
Off Street: 1
On Street: 1
Possession
Close of Escrow: 1
Photo
Agent Upload: 1
Selling Terms
Conventional: 1
Contract Information
Status: Closed
Sold Date: 2021-09-10
Under Contract Date: 2021-06-25
Sold Price: $4,900,000
List Date: 2021-06-22
Property Features
Business Type: Office
Present Use: Office
Parking: Off Street; On Street
Photo: Agent Upload
Possession: Close of Escrow
Selling Terms: Conventional
Supplements
and a very popular local wine & beer tap room. At just under $200/sf, the building is offered at well below replacement cost and a cap rate over 6.35% with upside potential with a few existing tenants below market rent. Excellent location with great exposure, this building is in like-new condition in the heart of downtown Redding, CA.
IDX
Listing Office: Haedrich & Co., Inc.
Last Updated: August - 31 - 2024
Information deemed reliable but not guaranteed.