2021 Victor AveRedding, CA 96002

Property Details for 2021 Victor Ave

Lot size

0.86 AC

Property type

Healthcare properties

Property subtype

Medical offices

APN

067-020-030-000

APU

67020030000

Description

This exceptional commercial property, located at 2021 Victor Avenue in Redding, CA, presents a unique investment opportunity. The 3,541 square foot building sits on a 0.87-acre lot and is zoned for General Office use. Its prime location ensures high visibility and traffic, making it ideal for a variety of businesses. Built in 1991 and thoughtfully remodeled in 2018, the property boasts a versatile layout. The interior features eight spacious patient rooms, two doctor's offices with windows, a well-equipped kitchen with laundry facilities, a comfortable waiting room, an administrative area, and two large storage rooms. Two handicap-accessible bathrooms are also included. A significant advantage is the inclusion of an indoor swimming pool and whirlpool, complete with a separate entrance and two handicap-accessible showers. This amenity adds considerable value and potential for diverse uses. The building's non-load-bearing interior walls allow for flexible reconfiguration to meet specific business needs. Twenty dedicated parking spaces are available, and the undeveloped portion of the lot offers ample room for expansion or the construction of additional facilities. The property is being sold furnished, including select medical equipment, offering immediate occupancy. The property's history as a successful chiropractic practice, combined with its lucrative rental potential for additional office space, makes this a truly remarkable investment opportunity in a thriving Redding location. The asking price is $850,000.

• CAP approach

  CAP return

  Valuation

  6%

  $6,719,762

  6.5%

  $6,202,857

  7%

  $5,759,796

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,323,695

  Geo Method

  $5,323,695

• Alternative Use

  Use

  Valuation

  Residential

  $7,691,543

  Hospitality

  $7,045,412

  Educational

  $5,861,700

  Medical

  $6,063,293

  Retail

  $9,118,200

Location Insight

City

Redding

County

Shasta

State

California

Latitude

40.578

Longitude

-122.338

CBSA code

39820

CBSA name

REDDING, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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