Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    602 Parsons Dr Redding, CA 96002-1947

    • Apartment buildings
    • 3,658 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Feb 01, 2021
    $612,000
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-0518182
    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

    • Apartment buildings

    Property Details for 602 Parsons Dr

    Year built
    1975
    Construction
    WOOD
    Lot size
    0.46 lot acres
    Property size
    3,658 SF
    Property type
    Apartment buildings
    APN
    107-480-004-000
    APU
    107480004000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $665,000
      6.5%
      $615,000
      7%
      $570,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $485,000
      Market price range: $141k - $1.16M

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

    Location Insight

    • Map
    • Local Demand
    City
    Redding
    County
    Shasta
    State
    California
    Longitude
    -122.361
    Latitude
    40.565
    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
    $7,596
    $167,325
    $515,367
    $682,692
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $650,000
      3.43 Acres

      3600 Churn Crk Rd

      APARTMENT HOUSE (5+ UNITS) • 3.43 Acres
      3600 Churn Crk Rd, Redding, CA 96002-2959
      View Details
    • Value Estimation by Request
      10.28 Acres

      1835 Hartnell Ave

      APARTMENT HOUSE (5+ UNITS) • 10.28 Acres
      1835 Hartnell Ave, Redding, CA 96002-2213
      View Details
    • Value Estimation
      $3,830,000
      320 SF

      3629 Bechelli Ln

      APARTMENT HOUSE (5+ UNITS) • 320 SF
      3629 Bechelli Ln, Redding, CA 96002-2441
      View Details
    • Value Estimation
      $1,080,000
      3,694 SF

      1013 Echo Rd

      APARTMENT HOUSE (5+ UNITS) • 3,694 SF
      1013 Echo Rd, Redding, CA 96002-2738
      View Details
    • Value Estimation by Request
      1,877 SF

      2475 Beverly Dr

      APARTMENT HOUSE (5+ UNITS) • 1,877 SF
      2475 Beverly Dr, Redding, CA 96002-0948
      View Details
    • Value Estimation
      $1,110,000
      728 SF

      2750 Reservoir Ln

      APARTMENT HOUSE (5+ UNITS) • 728 SF
      2750 Reservoir Ln, Redding, CA 96002-0003
      View Details

    Similar Nearby for Sale

    • $850,000

      Redding Multifamily Investment Opportunity

      8-unit residential income property with good rental history.
      2590 Henderson Rd, Redding, CA 96002
      View Details
    • $399,900
      Pending

      Updated Duplex in Redding, CA

      Updated duplex with income potential in Redding, California.
      3872/3878 Alta Mesa Dr, Redding, CA 96002
      View Details
    • $1,200,000
      13.00 Acres

      Redding Multifamily Land Opportunity

      13 Acres, RM-9 Zoning, High Density
      0 Cypress Ave, Redding, CA 96002
      View Details
    • $450,000
      2,600 SF

      Redding Commercial Property For Sale

      Income-producing commercial property with multiple buildings in a high-visibility location.
      6854 Airport Rd, Redding, CA 96002
      View Details
    • Contact for pricing
      39,000 SF

      South Redding Retail Opportunity

      39,000 SF Retail Space Available
      0 Churn Crk Road/Bonnyview Rd, Redding, CA 96002
      View Details
    • $2,750,000
      10.00 Acres

      Redding Commercial Land: 10 Acres

      Prime Redding location, 10 acres, shopping center zoning.
      0 Nwc Of Shasta Vw Dr. & Rancho Rd, Redding, CA 96002
      View Details

    Similar Nearby for Lease

    • $1.25 SF/Yr
      2,400 SF

      Freestanding Office Building in Redding

      Freestanding office building with functional layout and I-5 access.
      2665 Bechelli Ln, Redding, CA 96002
      View Details
    • $985 /Mo
      5,952 SF

      Redding Office Space For Lease

      2976 SF office space with flexible leasing options.
      804 E Cypress Ave, Redding, CA 96002
      View Details
    • $0.85 SF/Yr
      14,000 SF

      Redding Warehouse with Fenced Yard

      14,000 SF warehouse with drive-through access in Redding, CA.
      860 Commerce St, Redding, CA 96002
      View Details
    • $5,300 /Mo
      3,845 SF

      Redding Office Suites For Rent

      Professional office suites with high-end finishes and excellent visibility.
      2608 Victor Ave, Redding, CA 96002
      View Details
    • $1.25 SF/Yr

      Premium Commercial Office Space Available

      Sought-after Redding location with private offices and ample parking.
      1760 Churn Creek Rd, Redding, CA 96002
      View Details
    • $1.25 SF/Yr
      16,208 SF

      Redding Retail Building with Drive-Thru

      Former Rite Aid retail building with drive-thru and parking.
      975 E Cypress Ave, Redding, CA 96002
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    602 Parsons Dr
    Redding, CA 96002-1947
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.