Multi-Tenant Retail and Office
For Sale
$749,000
2104 Hilltop Drive, Redding, CA 96002
Two established tenants are in place at a highly visible hilltop commercial site with convenient Interstate 5 access.
Property Size5,100 SF
Price / SF$146.86
Days on Market102
Property Features for 2104 Hilltop Drive
General Information
Standard status
Active
Size
5,100 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Highway Access
Yes
Amenities
3
Parking.
Off Street, On Street.
Building Details
Year Built
1962
Tenancy
Multi
Listing Agency:
RE/MAX of Redding
(530) 245-1955
Listed By:
Al Naticchioni · License #01035120
(530) 245-1944
Source:
Xome
Added: May 30
Changed: Sep 8
Last Checked: Sep 8 at 7:50AM
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 RE/MAX of Redding
Investment Insights
Based on property information with market context.
This for-sale commercial property is a multi-tenant retail and office building that totals 5,100 square feet. The property is currently occupied by two established tenants who wish to remain in place, creating stable, ongoing operations for the next owner. The building’s configuration supports a mixed retail and office use profile within a single ownership.
Located on Hilltop Drive in Redding, the property benefits from strong visibility along a prominent commercial corridor. Access is conveniently positioned for regional travel, including proximity to Interstate 5. The surrounding area includes a mix of national, regional, and local businesses, supporting a steady mix of everyday retail and service activity.
For buyers looking for an income-producing property with existing occupancy, this asset offers an immediate tenancy profile with two tenants. It also appeals to operators evaluating a retail and office footprint in a high-exposure location where convenient access matters. Financial information is available upon request to qualified buyers.
Located on Hilltop Drive in Redding, the property benefits from strong visibility along a prominent commercial corridor. Access is conveniently positioned for regional travel, including proximity to Interstate 5. The surrounding area includes a mix of national, regional, and local businesses, supporting a steady mix of everyday retail and service activity.
For buyers looking for an income-producing property with existing occupancy, this asset offers an immediate tenancy profile with two tenants. It also appeals to operators evaluating a retail and office footprint in a high-exposure location where convenient access matters. Financial information is available upon request to qualified buyers.
Key Highlights
- Commercial property built in 1962 on Hilltop Drive in Redding
- Two established tenants in place and wish to remain for continuity of income
- Highly visible hilltop commercial site with convenient access to Interstate 5
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
$66,919
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
8.93%
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%
$1,338,380
$1.3M
Cap Rate 7%
$955,986
$956.0K
Cap Rate 9%
$743,544
$743.5K
Market Conditions
NOI Build-Up for 5,100 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
$101.6K $19.92/SF
− Vacancy
−$6.0K −$1.18/SF
EGI
$95.6K $18.74/SF
− OpEx
−$28.7K −$5.62/SF
NOI
$66.9K $13.12/SF
Area
Shasta County, CA
Vacancy
5.90%
Lease Rate
$19.92 /SF/Yr
Expense Ratio
30.00%
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%
$1,338,380
Cap Rate 7%
$955,986
Cap Rate 9%
$743,544
Alternative Uses
Best Use
Retail
$956.0K
$836.5K – $1.12M
NOI $66,919 @ 7.0% cap · market cap 8.93%
Second Best
Office B
$877.3K
$767.6K – $1.02M
NOI $61,410 @ 7.0% cap · market cap 8.20%
Theoretical Best
Specialty Retail
$1.14M
$993.5K – $1.32M
NOI $79,480 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,678
Businesses Nearby
Explore this area
Business Placement
Demographics for 96002, CA
35,158
Population
13,685
Households
2.6
Avg Household Size
39
Median Age
22%
College-Educated
93%
High-School Grad
30.6 sq mi
ZIP Area
1,149
Density / Sq Mi
$74,230
Median Household Income
$40,454
Median Earnings
$1,281
Median Rent
$347,500
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?
Retail space - Two established tenants are in place at a highly visible hilltop commercial site with convenient Interstate 5 access.
Where is this retail space located?
The property is located at 2104 Hilltop Drive Redding, CA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Commercial property built in 1962 on Hilltop Drive in Redding; Two established tenants in place and wish to remain for continuity of income; Highly visible hilltop commercial site with convenient access to Interstate 5
