1345 Dana DrRedding, CA 96003

Property Details for 1345 Dana Dr

Lot size

1.75 AC

Property type

Retail properties

Property subtype

Turn key restaurants

APN

071-160-051-000

APU

71160051000

Description

This fee-simple retail property, totaling 6,869 square feet, is situated on a 1.76-acre lot at 1345 Dana Drive, Redding, CA 96003. The property, built in 1991, features 124 parking spaces and is zoned RC. Previously occupied by a Red Lobster restaurant, this location presents a significant redevelopment opportunity. The property enjoys a prime location just off the I-5/Highway 44 interchange, within the Mt. Shasta Mall retail corridor, a major retail hub boasting over 1.25 million square feet of retail space. The site benefits from its proximity to numerous national retailers, including Walmart, Target, Hobby Lobby, In-N-Out Burger, and others, indicating strong retail demand in the immediate vicinity. Redding's diverse economy, anchored by healthcare, retail, and manufacturing, contributes to the area's economic stability. The city's strategic location serves as a logistical hub between Northern California and Oregon, further enhancing its appeal. The asking price is $2,600,000, translating to $378.51 per square foot. The property's high visibility and convenient access make it an attractive investment for developers seeking to capitalize on Redding's growth and strong retail market. The average household income within a 3-mile radius is $77,048, indicating a strong consumer base. This property offers significant potential for redevelopment or repositioning to meet the evolving needs of the Redding market. The parcel's size and location provide ample opportunity for expansion or the addition of complementary businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $20,195,348

  6.5%

  $18,641,860

  7%

  $17,310,298

• Comparable approach

  Method

  Valuation

  Relative Method

  $27,427,980

  Geo Method

  $27,427,980

• Alternative Use

  Use

  Valuation

  Residential

  $15,725,106

  Hospitality

  $14,404,113

  Educational

  $11,984,053

  Medical

  $12,396,203

  Retail

  $18,641,860

Location Insight

City

Redding

County

Shasta

State

California

Latitude

40.5851

Longitude

-122.347

CBSA code

39820

CBSA name

REDDING, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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