Active

415 Knollcrest Drive

Redding CA, 96002

$2,650,000


$175.13 per sqft

Active

15,132 sqft

Commercial

Built in 1988

Situated in the esteemed Redcliff Business Park in the center of Redding, CA, this 15,132 SF office building is 100% leased by 3 separate tenants:

- Suite 100: Lease continues through March 2028, with two, three-year options to extend.
-Suite 130: Lease continues through September 2027, with one, three-year option to extend.
- Suite 140B: Lease continues through January 2028, with one, five-year option to extend.

These leases present an excellent diversification of tenant businesses. This property brings in an annual gross income of $263,105 for 2024.

The Cap Rate with stabilized expenses is just under 6.1%. Priced at $175 per sq ft, this fully leased investment opportunity is well below replacement cost and comparable building sales in the market. Rental rates considered to be below market, providing upside potential for the next owner.

Additionally, the building includes, 52 parking spaces at a ratio of three spaces per 1,000 sq ft.

24-4740

MLS ID

November 6, 2024

Listed

November 22, 2024

Updated

Map

415 Knollcrest Drive
Redding CA, 96002

Other Property Details

Area Name

04 - SW Redding


Days on Market

3


Garage

No


Parking

Off Street


View

No


County

Shasta


Pool

No

Listed by Capital Rivers Commercial, Tyler V Jardine,
Listing Contact:  

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Zach Wusstig | CA DRE# 02143488 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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