1645 Park Ave, Redlands, CA 92373-8073
- Distribution centers
- 40,801 SF
- 2.11 lot acres
Current Use by Public Records
- Colonial Enterprises Inc / Industrial Manufacturer / Factory
Property Details for 1645 Park Ave
- Year built
- 2017
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 2.11 lot acres
- Property type
- Distribution centers
- APN
- 0292-158-17-0000
- APU
- 292158170000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 31, 2023 | — | 11 Alabama Partnership LP | Jack M Langson | Intrafamily Transfer · related | — |
| Dec 28, 2022 | $8,300,000 | Jack M Langson | 64 Alabama Partnership L P | Grant Deed | — |
Description
This exceptional Class A industrial warehouse offers 20,400 square feet of immediately available space for sublease, extending through July 2027. Located in a prime EV/IC zoned area, this single-tenant building boasts a total of 40,800 square feet and is part of a larger, 2017-constructed complex. The warehouse features a striking high-image design, complemented by a 25-foot clear ceiling height, providing ample vertical storage capacity. Efficient operations are ensured with two dock-high and one grade-level loading positions, facilitating seamless loading and unloading processes. The interior is fully racked, maximizing storage efficiency and offering immediate usability. Safety is prioritized with an advanced ESFR sprinkler fire suppression system. The property benefits from robust electrical infrastructure, including 400 amps of 277/480-volt, three-phase power, ideal for various industrial applications. This is a rare opportunity to secure a modern, well-equipped warehouse space in a desirable location, offering immediate occupancy and a lease term extending into 2027. The building consists of one structure with two stories. No elevators are present.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $9,870,000
- ML approach
- $9,865,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $6,780,000
- 6.5%
- $6,260,000
- 7%
- $5,810,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $6,164,000
Market price range: $993k - $7.98M -
Alternative Use
- Use
- Estimation
- WAREHOUSE, STORAGE
- $10,400,000 Current use
- COMMERCIAL (GENERAL)
- $12,990,000 Change: +25% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $12,420,000 Change: +19% Conversion: Easy
- MEDICAL BUILDING
- $11,805,000 Change: +14% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $10,985,000 Change: +6% Conversion: Moderate
- RETAIL STORES
- $9,065,000 Change: -13% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Redlands
- County
- San Bernardino
- State
- California
- Longitude
- -117.21
- Latitude
- 34.0587
- CBSA code
- 40140
- CBSA name
- RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
