1320 Yuba St Active

Redding,CA 96001

$ 3930000

- Bed

0 Bath

24500 SqFt


Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 24,500 sqft

Price per Sqft $160

MLS Listing ID 23-1963

Originating Board Shasta Association of REALTORS®

Year Built 1956

Lot Size 0.480 Acres

Acres 0.48

Lot Dimensions 20,909

Property Description

Fully stabilized 93% leased high quality investment building in the heart of Downtown Redding, CA. Just appraised last month for $3,930,000, just $160/SF; the list price is the appraised value. Appraisal cap rate is 7.0%.

The building was originally built for Crocker Bank and still has the drive-thru and historic vaults in place. Despite the ''Downtown Core District'' zoning not requiring any parking on site, this parcel features all of the parking to the north of the building which includes 24 spaces and a double drive-thru. Overall office space vacancy in the downtown area is at historic lows with high demand and little inventory. The building exterior has been freshly painted and the exterior tiled facade was just replaced August 2021.

Location

State CA

County Shasta

Direction The property is ideally located in Redding's central downtown business district at the northwest corner of Pine and Yuba Streets in downtown Redding, CA.

Exterior

Parking Features Off Street

Building

Level or Stories NaN

Others

Senior Community No

Tax ID 101-790-005-000

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