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    Property profile & analytics

    1340 Hilltop Dr Redding, CA 96003

    • Retail space
    • 2.64 lot acres
    For Lease
    View listing
    Last Sale
    Mar 31, 2022
    $2,500,000
    Value Estimations
    $2,045,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1910072
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Spirit Halloween / Costume Store / Party Store

    Property Details for 1340 Hilltop Dr

    Lot size
    2.64 lot acres
    Property type
    Retail space
    APN
    107-160-018-000
    APU
    107160018000

    Description

    This exceptional retail opportunity in Redding, CA, presents a prime location at 1340 Hilltop Dr, boasting 26,998 square feet of space. Situated in Shasta County, this multi-tenant property offers flexible spaces ranging from a minimum of 8,908 square feet to a maximum contiguous area of 26,988 square feet, accommodating a variety of retail needs. The property benefits from a high-traffic location, directly across from Shasta Mall and featuring I-5 exposure, ensuring excellent visibility and accessibility. Anchored by established national retailers like PetSmart and BevMo!, this center guarantees consistent consumer traffic. The building comprises two suites, providing options for single or multi-tenant occupancy. Redding, the largest city north of Sacramento, serves as a regional hub for Northern California, drawing customers from surrounding counties. This location offers access to a substantial population base and a thriving retail environment, making it an ideal investment for businesses seeking to establish or expand their presence in a dynamic market. The property's strategic placement near major transportation arteries and surrounded by approximately 1.5 million square feet of national anchor tenants, further enhances its appeal and potential for success. This is a rare opportunity to secure a highly visible and well-positioned retail space in one of Northern California's key commercial areas. The property is located near two major hospitals, providing additional foot traffic and a strong local economy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,045,000
      ML approach
      $2,075,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Redding
    County
    Shasta
    State
    California
    Longitude
    -122.359
    Latitude
    40.5877
    CBSA code
    39820
    CBSA name
    REDDING, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $28,940
    $1,040,400
    $1,560,600
    $2,601,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $350,000
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      1155 Canby Rd

      RETAIL STORES (PERSONAL SERVICES) • 10.27 Acres
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      View Details
    • Value Estimation
      $255,000
      2.27 Acres

      1960 Twin Vw Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2.27 Acres
      1960 Twin Vw Blvd, Redding, CA 96003-1522
      View Details
    • Value Estimation
      $360,000
      8.22 Acres

      1401 Hilltop Dr

      RETAIL STORES (PERSONAL SERVICES) • 8.22 Acres
      1401 Hilltop Dr, Redding, CA 96003-4082
      View Details
    • Value Estimation
      $275,000
      6,500 SF

      1298 Churn Crk Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,500 SF
      1298 Churn Crk Rd, Redding, CA 96003
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    • Value Estimation
      $270,000
      12,436 SF

      64 Lk Blvd

      RETAIL STORES (PERSONAL SERVICES) • 12,436 SF
      64 Lk Blvd, Redding, CA 96003-2512
      View Details
    • Value Estimation
      $300,000
      0.85 Acres

      1145 Dana Dr

      RETAIL STORES (PERSONAL SERVICES) • 0.85 Acres
      1145 Dana Dr, Redding, CA 96003-4018
      View Details

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    Similar Nearby for Lease

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      Hilltop Drive Retail Center

      Redding, CA Retail Space Available
      1340 Hilltop Dr, Redding, CA 96003
      View Details
    • Contact for pricing
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      Retail Space in Redding Center

      Retail space available in shopping center anchored by FoodMaxx.
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      Retail Space in Redding Center

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      View Details
    • Contact for pricing
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      Retail Space in Redding Center

      Retail space available in a busy Redding shopping center.
      1150 Dana Dr, Redding, CA 96003
      View Details
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    Redding, CA 96003
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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