Two-Story Medical Office & Sleep
For Sale
$2,495,000
1145 Whiskeytown Court, Redding, CA 96001
Two-level medical office building offers an operational sleep center upstairs and shell space below for customization.
Property Size12,767 SF
Price / SF$195.43
Days on Market53
Property Features for 1145 Whiskeytown Court
General Information
Standard status
Active
Size
12,767 SF
Total Parking Spaces
50
Property subtype
Commercial
Zoning
RED GO - General Office
Building Details
Year Built
2008
Stories
2
Tenancy
Single
Listing Agency:
(530) 643-7342
Listed By:
Grenvik Group Real Estate
(530) 643-7342
Source:
Grenvikgroup.idxbroker
Added: Jun 30
Changed: Aug 19
Last Checked: Aug 20 at 4:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Grenvik Group Real Estate
Investment Insights
Based on property information with market context.
Built in 2008, this two-story medical office building totals 12,767 square feet and is served by an elevator and stairwell between levels. The upper level includes 6,578 square feet with modern sleep center build-out, including six patient sleep rooms, patient exam and consulting rooms, private doctor offices, a large lobby, conference room, administration/files area, technician/nurses station, break room, and multiple support and restroom areas including bathrooms with showers and commode rooms. The lower level contains 6,189 square feet, with 1,090 square feet finished for laundry, storage, and janitorial services, and the remaining approximately 5,100 square feet in shell condition ready for improvements.
Parking is available immediately adjacent to the entrances on both levels, with 15 spaces at the lower level and 20 spaces at the upper level, plus use of adjacent church parking. The property also benefits from a shared parking agreement with Pilgrim Congregational Church for an additional 15 spaces, including an improved walking path between properties.
The upper level sleep center is leased to Jiva Health, Inc., with the lease expiring July 1, 2028. The rent is structured on a modified gross basis, starting at $9,500 per month and escalating to $11,750 in 2026 and $14,000 in 2027. This configuration can support an owner-operator who wants an income-producing medical component while positioning the lower level shell space for future medical or healthcare improvements.
Parking is available immediately adjacent to the entrances on both levels, with 15 spaces at the lower level and 20 spaces at the upper level, plus use of adjacent church parking. The property also benefits from a shared parking agreement with Pilgrim Congregational Church for an additional 15 spaces, including an improved walking path between properties.
The upper level sleep center is leased to Jiva Health, Inc., with the lease expiring July 1, 2028. The rent is structured on a modified gross basis, starting at $9,500 per month and escalating to $11,750 in 2026 and $14,000 in 2027. This configuration can support an owner-operator who wants an income-producing medical component while positioning the lower level shell space for future medical or healthcare improvements.
Key Highlights
- Two‑story 12,767 SF medical office building built in 2008 in Redding, CA
- Upper level includes 6 sleep rooms and multiple clinical areas, totaling 6,578 SF and leased to Jiva Health, Inc.
- Lease expires July 1, 2028 at $9,500/month base rent, escalating to $11,750/month in 2026 and $14,000/month in 2027 (modified gross)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$153,729
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,074,580
$3.1M
Cap Rate 7%
$2,196,129
$2.2M
Cap Rate 9%
$1,708,100
$1.7M
Market Conditions
NOI Build-Up for 12,767 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$260.4K $20.40/SF
− Vacancy
−$55.5K −$4.35/SF
EGI
$205.0K $16.05/SF
− OpEx
−$51.2K −$4.01/SF
NOI
$153.7K $12.04/SF
Area
Shasta County, CA
Vacancy
21.30%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,074,580
Cap Rate 7%
$2,196,129
Cap Rate 9%
$1,708,100
Alternative Uses
Best Use
Office B
$2.20M
$1.92M – $2.56M
NOI $153,729 @ 7.0% cap · market cap 6.16%
Second Best
Healthcare Medical
$1.93M
$1.69M – $2.25M
NOI $134,869 @ 7.0% cap · market cap 5.41%
Theoretical Best
Specialty Retail
$2.84M
$2.49M – $3.32M
NOI $198,966 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 96001, CA
33,914
Population
14,370
Households
2.4
Avg Household Size
42
Median Age
28%
College-Educated
93%
High-School Grad
72.4 sq mi
ZIP Area
468
Density / Sq Mi
$70,594
Median Household Income
$42,316
Median Earnings
$1,238
Median Rent
$385,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-level medical office building offers an operational sleep center upstairs and shell space below for customization.
Where is this medical office space located?
The property is located at 1145 Whiskeytown Court Redding, CA.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Two‑story 12,767 SF medical office building built in 2008 in Redding, CA; Upper level includes 6 sleep rooms and multiple clinical areas, totaling 6,578 SF and leased to Jiva Health, Inc.; Lease expires July 1, 2028 at $9,500/month base rent, escalating to $11,750/month in 2026 and $14,000/month in 2027 (modified gross)
