For Sale
$3,930,000

1320 Yuba StRedding, CA 96001

High-yield, multi-tenant retail investment

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional three-story, 24,500 square foot retail building, located at 1320 Yuba Street in Redding, California (96001), presents a compelling investment opportunity. Built in 1956 and extensively renovated in 2022, the property boasts a 93% occupancy rate and is currently listed at $3,930,000, aligning with its recent appraisal. The price per square foot is $160.41, reflecting a 7.0% cap rate. Situated on a 20,909 square foot lot (APN 101-790-005), the building features 24 parking spaces and a double drive-thru, a rare amenity given its Downtown Core District (DCD-SP-BH) zoning. Originally constructed for Crocker Bank, the property retains its historic vaults and drive-thru. The exterior has been recently refreshed with new paint and tile facade replacement (August 2021). The favorable zoning allows for diverse uses, including office, retail, residential, or mixed-use developments. This multi-tenant building benefits from below-market rents in several leases, some of which include utilities. The property's prime location in Downtown Redding places it within a thriving area experiencing historically low vacancy rates and surrounded by over $300 million in recent development projects, including the new Redding Public Market. This is a stabilized, high-quality investment in a rapidly growing downtown core.

Highlights

  • Multi-tenant building in Redding's Opportunity Zone.
  • Flexible zoning allows for office, retail, residential, or mixed-use development.
  • 90% occupancy with below-market rents, including utilities in some leases.
  • Located near over $300 million in recent development and the new Redding Public Market.
  • Downtown Redding boasts historically low vacancy rates.

Property Details for 1320 Yuba St

Property type
Community centers, Retail properties
Square Feet
24,500 SF
Year Built/Renovated
1956/2022
Stories
3

Location Insight

City
Redding
County
Shasta
State
California
Latitude
40.5837853
Longitude
-122.3895796
1320 Yuba St, Redding, California

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1320 Yuba St
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