1320 Yuba StRedding, CA 96001

This exceptional three-story, 24,500 square foot retail building, located at 1320 Yuba Street in Redding, California (96001), presents a compelling investment opportunity. Built in 1956 and extensively renovated in 2022, the property boasts a 93% occupancy rate and is currently listed at $3,930,000, aligning with its recent appraisal. The price per square foot is $160.41, reflecting a 7.0% cap rate. Situated on a 20,909 square foot lot (APN 101-790-005), the building features 24 parking spaces and a double drive-thru, a rare amenity given its Downtown Core District (DCD-SP-BH) zoning. Originally constructed for Crocker Bank, the property retains its historic vaults and drive-thru. The exterior has been recently refreshed with new paint and tile facade replacement (August 2021). The favorable zoning allows for diverse uses, including office, retail, residential, or mixed-use developments. This multi-tenant building benefits from below-market rents in several leases, some of which include utilities. The property's prime location in Downtown Redding places it within a thriving area experiencing historically low vacancy rates and surrounded by over $300 million in recent development projects, including the new Redding Public Market. This is a stabilized, high-quality investment in a rapidly growing downtown core.