Current Price:$4,900,000 List Date:6/22/2021Last Modified:8/31/2024
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, ...
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.
More Information MLS# 21-2909
Address Information
Street Number: 1321Street Name: Butte StCross Street: Pine StreetState/Province: CAPostal Code: 96001County: Shasta
Property Description
Current Price: $4,900,000Area: 04 - SW ReddingList Price: 5000000Parcel Number: 101-790-004Sq Ft - Building: 25308GP Zone: RED GC - General CommercialZoning: Redding DMUD-SP-BH Downtown Specific Plan Mixed Use Building HeightYear Built: 2015Year Built Desc: 06-10 Years
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.
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