2495 Progress Dr Redding, CA 96001
- Industrial properties
- 7,750 SF
- 0.49 lot acres
Current Use by Public Records
- Industrial properties
Property Details for 2495 Progress Dr
- Year built
- 2006
- Lot size
- 0.49 lot acres
- Property size
- 7,750 SF
- Property type
- Industrial properties
- APN
- 048-110-033-000
- APU
- 48110033000
Description
This exceptional 7,750 square foot warehouse in Redding, CA, presents a rare opportunity to acquire a fully city and state-approved cannabis cultivation facility. The property is located at 2495 Progress Drive and boasts pre-approved plans, contractor bids, and established key contacts, streamlining the transition to operational status. Significant groundwork has already been completed, including the installation of DPS-paneled rooms and comprehensive electrical upgrades. These upgrades encompass a new switchgear box and electrical panels, representing substantial cost and time savings for the new owner. The property's existing infrastructure significantly reduces the hurdles typically associated with establishing a cultivation operation. Beyond its immediate suitability for cannabis cultivation, this property offers compelling investment potential. Its adaptable design and established infrastructure make it an attractive option for lease, promising a consistent stream of rental income. The property sits on a 0-acre lot and is priced at $1,150,000. This turnkey solution presents a unique opportunity for both experienced cultivators and savvy investors seeking a high-return asset in a thriving market. The property's pre-approved status and completed infrastructure minimize risk and accelerate the path to profitability.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $980,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $935,000
- 6.5%
- $950,000
- 7%
- $845,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $880,000
- Geo Method
- $1,010,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,055,000
- Retail
- $865,000
- Mixed-Use
- $1,085,000
- Hospitality
- $1,055,000
- Educational
- $1,010,000
- Residential Income
- $1,055,000
- Energy
- $1,040,000
- Income-Based Land
- $1,070,000
- Food Service
- $845,000
Location Insight
- Map
- Local Demand
- City
- Redding
- County
- Shasta
- State
- California
- Longitude
- -122.384
- Latitude
- 40.5559
- CBSA code
- 39820
- CBSA name
- REDDING, CA METROPOLITAN STATISTICAL AREA
