923 Dana Dr, Redding, CA 96003
$1,250,000
Property Type:
Comm/Industrial
Square Footage:
13,450
Lot Size (sq. ft.):
37,249
Status:
Closed
Current Price:
$1,250,000
List Date:
6/18/2018
Last Modified:
8/31/2024
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!
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.
More Information MLS# 18-3533
Address Information
Street Number: 923
Street Name: Dana Dr
Cross Street: Canby Road
State/Province: CA
Postal Code: 96003
County: Shasta
Property Description
Current Price: $1,250,000
Type: C
Area: 03 - SE Redding
List Price: 1470000
Parcel Number: 107-290-007-000
Sq Ft - Building: 13450
Sq Ft - Lot: 37249
Lot Dim or Acres: 37,249
GP Zone: RED RC - Regional Commercial
Zoning: RED - C-2 - Central Commericial District
Year Built: 1980
Year Built Desc: 30+
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.
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
Listing Office: Haedrich & Co., Inc.
Last Updated: August - 31 - 2024
Information deemed reliable but not guaranteed.