1755 Hilltop Dr - Freestanding FOR SALE


Redding, CA 96002
$9,915,000 USD
480-221-4221
1755 Hilltop Dr, Redding, CA for Sale
$9,915,000 USD
Freestanding - FOR SALE
1/7
null | 7% Cap Rate

1755 Hilltop Dr
Redding, CA 96002


HIGHLIGHTS

  • 100% Occupied | 2-Tenant Big Box | Scheduled Rent Increases | NNN Leases
  • Excellent Visibility and Access | Quick Access to On/Off Ramp to I-5 and State Highway 44
  • Dense Retail Corridor | Strong National/Credit Tenant Presence
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 2-tenant big-box, 100% occupied, Planet Fitness & Institute of Technology investment property located in Redding, California. Planet Fitness has just signed a 10-year lease with 2 (10-year) options to extend, featuring scheduled rent increases every 5 years. Institute of Technology recently executed a 5-year option with another extension option remaining. Both tenants operate under NNN leases, limiting expense leakage for a future investor. Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States, with over 2,250 locations. Institute of Technology has been one of the primary postsecondary education in the western U.S. since 1986.

FOR SALE DETAILS

PRICE

$9,915,000 USD

PRICE/SF

$169 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Planet Fitness & Institute of Technology

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

6.41 AC

LAND SF

279,220 SF

ZONING

GC-VR-BH

APN/PARCEL ID

107-310-029-000

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.