804 E Cypress Avenue, Redding, CA 96002

Property Description

Located at 804 E. Cypress Avenue in Redding, California, this building presents a highly functional opportunity for an owner-occupant to acquire a professional office building at a significant discount to replacement cost. The asset is a 5,952 square foot , two-story office building listed at $620,000. This property allows a buyer to immediately occupy the upper floor while benefiting from a secured income stream from the ground floor tenant. The building features a vacant, 2,976 square foot second floor. This upper suite includes a waiting and reception area, seven private offices, a break room area, and a substantial conference or training room. The second floor is easily accessed by both an interior and an exterior stairwell, providing flexible entry options for employees or future sub-tenants. Additionally, the property includes a detached 700 square foot garage building onsite, offering secure storage or inventory capacity. The site provides ( ) off-street parking spaces and is zoned HC-BH, Heavy Commercial, which permits a wide variety of commercial uses. From an investment perspective, this asset is structured to maximize cost efficiency and equity growth. Acquiring the property at a basis near $100 per square foot allows an owner-user to build equity. Furthermore, the ground floor provides immediate debt service coverage as it is fully leased to a stable, long-term tenant through January 2029. Future upside exists through the eventual lease-up of the entire building or by restructuring the ground floor lease upon its expiration.