Flex Space with Office and
For Sale
$279,000
2918 S Market Street, Redding, CA 96001
COMMERCIAL - Redding, CA
Property Size1,872 SF
Price / SF$149.04
Days on Market51
Property Features for 2918 S Market Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Redding HC Heavy Commercial
Parking features
On Street
Subdivision
04 - SW Redding
Standard status
Active
APN
104-010-003-000
Size
1,872 SF
Building Details
Year built
1954
Listing Agency:
Relevant Real Estate
(530) 319-3301
Listed By:
Amanda Bauder · License #02230527
(530) 355-2570
Added: Jul 6
Changed: Aug 4
Last Checked: Aug 25 at 11:06PM
MLS# 26-3259
Copyright © 2026 Shasta Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex space contains approximately 1,872 square feet arranged with a front office and reception area alongside a rear warehouse/shop component. The configuration separates customer-facing administrative functions from storage or work space within the same building, providing a practical setup for an owner-user or operating business. The property was built in 1954.
Located at 2918 S Market Street in Redding, the building offers on-street parking and access from a commercial South Market Street setting. Its office-and-shop arrangement provides a straightforward format for businesses that need both front-of-house space and a dedicated rear work area.
Located at 2918 S Market Street in Redding, the building offers on-street parking and access from a commercial South Market Street setting. Its office-and-shop arrangement provides a straightforward format for businesses that need both front-of-house space and a dedicated rear work area.
Key Highlights
- Approximately 1,872 square feet of flex space
- Front office and reception area
- Rear warehouse/shop area
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
$22,569
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
8.09%
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%
$451,380
$451.4K
Cap Rate 7%
$322,414
$322.4K
Cap Rate 9%
$250,767
$250.8K
Market Conditions
NOI Build-Up for 1,872 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
$34.6K $18.48/SF
− Vacancy
−$2.4K −$1.26/SF
EGI
$32.2K $17.22/SF
− OpEx
−$9.7K −$5.17/SF
NOI
$22.6K $12.06/SF
Area
Shasta County, CA
Vacancy
6.80%
Lease Rate
$18.48 /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%
$451,380
Cap Rate 7%
$322,414
Cap Rate 9%
$250,767
Alternative Uses
Best Use
Warehouse
$370.1K
$323.8K – $431.8K
NOI $25,907 @ 7.0% cap · market cap 9.29%
Second Best
Industrial
$322.4K
$282.1K – $376.2K
NOI $22,569 @ 7.0% cap · market cap 8.09%
Theoretical Best
Specialty Retail
$416.8K
$364.7K – $486.2K
NOI $29,174 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
905
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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Similar Off Market Nearby
- Sweetie's Cafe & Catering — 3105 S Market St, Redding, CA 96001
Frequently Asked Questions
What type of property is this?
Flex space - The layout combines a customer-facing reception area with a substantial rear workspace for commercial operations.
Where is this flex space located?
The property is located at 2918 S Market Street Redding, CA.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Approximately 1,872 square feet of flex space; Front office and reception area; Rear warehouse/shop area
