1321 Butte St, Redding, CA 96001 (MLS# 21-2909)

$4,900,000

1321 Butte St
Redding, CA 96001
MLS# 21-2909
Status: Closed
25308 sqft

1 / 9

Property Description
Fully leased recently constructed mixed use building available for sale in an Opportunity Zone in downtown Redding, CA. This 2 story 25,308 square foot building was constructed in 2015 by an owner occupant looking to build a more efficient space for their business and invest in downtown Redding. Formerly the site of the Greyhound Bus Station, this property is ideally located in the heart of downtown Redding at the corner of Butte and Pine Streets with high traffic counts nearing 12,000 cars per day and great visibility. Designed by Scott Gibson Architect, Inc. and constructed by Stuart James Construction, Inc., the building was designed and built with quality in mind and a great attention to detail. The tenant mix includes 2 residential apartments, multiple offices, retail space, ...

Details

Address Information

Street Number: 1321

Street Name: Butte St

Cross Street: Pine Street

State/Province: CA

Postal Code: 96001

County: Shasta

Property Description

Current Price: $4,900,000

Area: 04 - SW Redding

List Price: 5000000

Parcel Number: 101-790-004

Sq Ft - Building: 25308

GP Zone: RED GC - General Commercial

Zoning: Redding DMUD-SP-BH Downtown Specific Plan Mixed Use Building Height

Year Built: 2015

Year Built Desc: 06-10 Years

Remarks

Directions: Ideally located in an Opportunity Zone in the direct center of downtown Redding, CA at the corner of Pine and Butte Streets. Pine Street is all state highway 273 and the building directly next door.

Contract Information

Status: Closed

Sold Date: 2021-09-10

Under Contract Date: 2021-06-25

Sold Price: $4,900,000

List Date: 2021-06-22

SO Comm: 2.5

Commission SO: 2.5

Commission SO Type: %

Property Features

Business Type: Office

Present Use: Office

Parking: Off Street; On Street

Photo: Agent Upload

Possession: Close of Escrow

Selling Terms: Conventional

Supplements

and a very popular local wine & beer tap room. At just under $200/sf, the building is offered at well below replacement cost and a cap rate over 6.35% with upside potential with a few existing tenants below market rent. Excellent location with great exposure, this building is in like-new condition in the heart of downtown Redding, CA.

Listing Office: Haedrich & Co., Inc.

Last Updated: February - 07 - 2024

1321 Butte St, Redding, CA 96001 - MLS# 21-2909

The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

Information deemed reliable but not guaranteed.