415 Knollcrest Dr
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415 Knollcrest Dr
15,132 SF 100% Leased Office Building Redding, CA 96002 $2,650,000 ($175/SF) 6.10% Cap Rate
Investment Highlights
- 15,132 SF multi-tenant office building
- 52 Off Street Parking Spaces (ratio at 3:1,000 sq ft)
- Cap Rate of just under 6.1% based on actual income
- Prime Location, easily accessible from Interstate 5
- 100% Leased (no vacancy)
Executive Summary
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.
Ideally located in the center of Redding just off of Interstate 5 via the Cypress Avenue exit. Southwest corner of the intersection of Knollcrest Dr, and Hemsted Dr.
- 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.
Ideally located in the center of Redding just off of Interstate 5 via the Cypress Avenue exit. Southwest corner of the intersection of Knollcrest Dr, and Hemsted Dr.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
15,132 SF
Building Class
C
Year Built
1988
Price
$2,650,000
Price Per SF
$175
Cap Rate
6.10%
NOI
$161,650
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
15,132 SF
Building FAR
0.34
Land Acres
1.03 AC
Zoning
LO - Limited Office
Parking
52 Spaces (3.44 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Number | 107-370-029-000 | Improvements Assessment | $1,427,974 |
| Land Assessment | $455,130 | Total Assessment | $1,883,104 |
PROPERTY TAXES
Parcel Number
107-370-029-000
Land Assessment
$455,130
Improvements Assessment
$1,427,974
Total Assessment
$1,883,104
-
Tyler Jardine -
Capital Rivers Commercial - Haedrich Group
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415 Knollcrest Dr
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