1321 Butte St, Redding, CA 96001

$4,900,000
Property Type: Comm/Industrial Square Footage: 25,308 Status: Closed
Current Price: $4,900,000 List Date: 6/22/2021 Last 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: 1321 Street Name: Butte St Cross Street: Pine Street State/Province: CA Postal Code: 96001 County: Shasta

Property Description

Current Price: $4,900,000 Area: 04 - SW Redding 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: 2015 Year 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.

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
Listing Office: Haedrich & Co., Inc.
Last Updated: August - 31 - 2024
1321 Butte St, Redding, CA 96001- MLS# 21-2909
Information deemed reliable but not guaranteed.

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