Current Price:$1,200,000List Date:5/16/2024Last Modified:6/04/2024
Description
Positioned in the thriving Redding area, this impressive office building spans 3,905 square feet and features a single, fully occupied building. With a strong medical tenant, this property presents a compelling investment opportunity for commercial real estate investors. Boasting high end design elements and well-maintained facilities, this asset is poised to deliver a strong and consistent return. Its strategic location provides visibility and accessibility, ensuring long-term appeal for tenants and potential for continued growth. Don't miss the chance to add this high-performing property to your portfolio and benefit from the stability and potential it offers in the dynamic Redding market.
Supplements: Secure Investment with Long-Term Tenant: This stand-alone building is leased to Paradigm Clinical Research under a secure Triple Net (NNN) lease agreement. Signed in September 2021, the initial lease term extends to August 2026, with built-in rent increases of 3% annually. Additionally, Paradigm has the right to extend the lease for three more 5-year terms, offering continued stable income and potential for further rent growth.
About tenant; https://www.paradigm-research.com/about-us
See documents section for brochure.
Current Price: $1,200,000Type: AArea: 01 - NW ReddingList Price: 1200000Parcel Number: 103-570-008-000Sq Ft - Building: 3905Sq Ft - Lot: 32670SqFt - Bldg Rentable: 3905GP Zone: RED GO - General OfficeZoning: RED - C-O - Office DistrictYear Built: 2002Year Built Desc: 21-30 Years
Remarks
Directions: Nearby Whiskeytown Lake provides outdoor recreational opportunities, while the renowned Sundial Bridge and Turtle Bay Exploration Park offer cultural enrichment.
Contract Information
Listing Contract Date: 2024-04-30Status: PendingUnder Contract Date: 2024-05-31List Date: 2024-05-16Commission SO: 3Commission SO Type: %
Property Features
Business Type: OfficePresent Use: OfficeParking: Off StreetPossession: Close of Escrow