Corner Flex Space With
New
For Sale
$849,000
24400 Old 44 Drive, Millville, CA 96062
Finished offices, warehouse capacity, paved circulation, and commercial vehicle access support varied business operations.
Property Size5,400 SF
Lot Size2.58 Acres
Price / SF$157.22
Days on Market3
Property Features for 24400 Old 44 Drive
General Information
Standard status
Active
Size
5,400 SF
Class
B
Total Parking Spaces
18
Lot size
2.58 Acres
Property subtype
Industrial
Zoning
C-2
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Span
Yes
Warehouse Space
3,200 SF
Office Build-Out
2,200 SF
Drive-In Doors
2
Voltage
220 V
Amenities
reception area
vaulted ceilings
natural light
luxury vinyl plank flooring
private offices
open work areas
full kitchen
full bathroom with shower
skylights
Building Details
Building Size
5,400 SF
Year Built
2007
Buildings
1
Listing Agency:
Capital Rivers Commercial
(530) 524-1537
Listed By:
Tyler Jardine · License #01411003
(530) 524-1537
Source:
Thebrokerlist
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 5:44AM
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 Capital Rivers Commercial
Investment Insights
Based on property information with market context.
This 2007 industrial flex property combines professionally finished office improvements with a clear-span warehouse. The office component includes a reception area with vaulted ceilings, natural light, luxury vinyl plank flooring, private offices, open work areas, a full kitchen, and a bathroom with shower. Warehouse features include exposed steel trusses, skylights, 220-volt electrical service, concrete floors, two 12-foot electric roll-up doors, and a mezzanine office overlooking the floor.
The ±2.58-acre commercial parcel is positioned at the northeast corner of State Highway 44 and Old 44 Drive in Millville. Approximately 18 paved parking spaces, paved truck circulation, and outdoor operational areas accommodate deliveries, trailers, and commercial vehicles. The property has a private well, septic system, propane service, and C-2 Community Commercial District zoning. Caltrans traffic counts indicate ±10,550 vehicles per day at the location, with access to Redding, Palo Cedro, Millville, Burney, Susanville, Reno, and surrounding Northern California markets.
The ±2.58-acre commercial parcel is positioned at the northeast corner of State Highway 44 and Old 44 Drive in Millville. Approximately 18 paved parking spaces, paved truck circulation, and outdoor operational areas accommodate deliveries, trailers, and commercial vehicles. The property has a private well, septic system, propane service, and C-2 Community Commercial District zoning. Caltrans traffic counts indicate ±10,550 vehicles per day at the location, with access to Redding, Palo Cedro, Millville, Burney, Susanville, Reno, and surrounding Northern California markets.
Key Highlights
- ±5,400 square foot industrial flex building completed in 2007
- ±2,200 square feet of executive office and ±3,200 square feet of warehouse space
- Two 12‑foot electric roll‑up doors and 220‑volt electrical service
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
$74,733
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
8.80%
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%
$1,494,660
$1.5M
Cap Rate 7%
$1,067,614
$1.1M
Cap Rate 9%
$830,367
$830.4K
Market Conditions
NOI Build-Up for 5,400 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
$95.3K $17.64/SF
− Vacancy
−$7.3K −$1.36/SF
EGI
$87.9K $16.28/SF
− OpEx
−$13.2K −$2.44/SF
NOI
$74.7K $13.84/SF
Area
Shasta County, CA
Vacancy
7.70%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
15.00%
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%
$1,494,660
Cap Rate 7%
$1,067,614
Cap Rate 9%
$830,367
Alternative Uses
Best Use
Warehouse
$1.07M
$934.2K – $1.25M
NOI $74,733 @ 7.0% cap · market cap 8.80%
Second Best
Industrial
$930.1K
$813.8K – $1.09M
NOI $65,104 @ 7.0% cap · market cap 7.67%
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $84,156 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 96062, CA
994
Population
456
Households
2.2
Avg Household Size
51
Median Age
25%
College-Educated
99%
High-School Grad
67.1 sq mi
ZIP Area
15
Density / Sq Mi
$110,781
Median Household Income
$64,063
Median Earnings
$1,656
Median Rent
$441,100
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?
Flex space - Finished offices, warehouse capacity, paved circulation, and commercial vehicle access support varied business operations.
Where is this flex space located?
The property is located at 24400 Old 44 Drive Millville, CA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: ±5,400 square foot industrial flex building completed in 2007; ±2,200 square feet of executive office and ±3,200 square feet of warehouse space; Two 12‑foot electric roll‑up doors and 220‑volt electrical service
