$1,250,000
Redding, CA 96003
MLS# 18-3533
Status: Closed
13450 sqft
1 / 5
Property Description
Mt. Shasta Plaza building available for sale across from Mt. Shasta Mall between Discovery Village and Chipotle. Premier location in the Redding, CA market, with a building ripe for new management or complete redevelopment. Please do not disturb existing tenants, contact listing agent for tours. CLick ''more' for more information!
Details
Maps
Address Information
Cross Street: Canby Road
Street Number: 923
Street Name: Dana Dr
State/Province: CA
Postal Code: 96003
County: Shasta
Property Description
List Price: 1470000
Parcel Number: 107-290-007-000
Lot Dim or Acres: 37,249
Sq Ft - Building: 13450
Sq Ft - Lot: 37249
GP Zone: RED RC - Regional Commercial
Zoning: RED - C-2 - Central Commericial District
Year Built Desc: 30+
Current Price: $1,250,000
Area: 03 - SE Redding
Year Built: 1980
Remarks
Public Remarks: Mt. Shasta Plaza building available for sale across from Mt. Shasta Mall between Discovery Village and Chipotle. Premier location in the Redding, CA market, with a building ripe for new management or complete redevelopment. Please do not disturb existing tenants, contact listing agent for tours. CLick ''more' for more information!
Directions: Prime retail location in the heart of Redding, CA's retail hub, directly across from the Mt. Shasta Mall on Dana Drive between Hilltop Drive and Churn Creek Road.
Business Type
Mixed: 1
Office: 1
Retail: 1
Present Use
Mixed: 1
Health: 1
Medical/Dental: 1
Office: 1
Retail: 1
Service: 1
Parking
Common: 1
Conforms to Zoning: 1
Off Street: 1
Lease Term
Varies: 1
Possession
Close of Escrow: 1
Selling Terms
New Loan: 1
Contract Information
Status: Closed
Sold Date: 2018-10-26
Under Contract Date: 2018-08-31
Sold Price: $1,250,000
List Date: 2018-06-18
Property Features
Business Type: Mixed; Office; Retail
Present Use: Health; Medical/Dental; Mixed; Office; Retail; Service
Parking: Common; Conforms to Zoning; Off Street
Lease Term: Varies
Possession: Close of Escrow
Selling Terms: New Loan
Supplements
Currently 60% vacant, new management with below market rental rates of just $1.00/sf ($12/sf/yr) modified gross on the 1st floor and $0.80/sf ($9.60/sf/yr) modified gross on the 2nd floor creates a 7.2% cap rate with 5% vacancy (almost 8.0% cap rate after filling vacant space with current rents). Perfect real estate 101 Rich Dad Poor Dad opportunity to buy the oldest building on the best block and manage or remodel into its full potential.
IDX
Listing Office: Haedrich & Co., Inc.
Last Updated: August - 31 - 2024
Information deemed reliable but not guaranteed.