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Westwood Village 6536 Westside Rd 99,133 SF 100% Leased Retail Building Redding, CA 96001 $11,536,000 ($116.37/SF) 3.34% Cap Rate
Investment Highlights
- Unmatched Lease Up Opportunity – At 41% occupancy, 58,445 SF is currently vacant, including anchor spaces available for backfill
- Established Retail Center and Location
- Outsized Income Growth
Executive Summary
* Unmatched Lease Up Opportunity – At 41% occupancy, 58,445 SF is currently vacant, including second generation grocery (30,000 SF) and pharmacy (18,648 SF to be former Rite Aid) anchor spaces available for backfill. Westwood Village presents a unique upside opportunity for investors, and the ability to curate the optimal tenant mix, unmatched in today’s market
* Outsized Income Growth – Due to vacant space lease-up, below market rents rolling to market, and embedded rental escalations the Net Operating Income is expected to increase more than $938,300 (243%) upon stabilization and $1,018,000 (264%) over the expected hold period, producing a robust Compound Annual Growth Rate (CAGR) exceeding 29.5%
* Established Retail Center and Location – With its past and current national and regional tenancy, Westwood Village and its location have proven retail viability, benefitting the ability to lease-up the vacancy
* The current tenancy includes Dollar Tree, O’Reilly Auto Parts, Subway, Metro by T-Mobile, Round Table Pizza, and Carl’s Jr. (also available for purchase)
* 11 tenants totaling 34,788 SF (85% of the leased GLA) have occupied the center for 10+ years with 6 tenants totaling 15,456 SF (38% of the leased GLA) 20+ years including Subway, O’Reilly Auto Parts, and Round Table Pizza – Carl’s Jr. (also available for purchase) has been at the center since 1981 (nearly 44 years!)
* Multi-Parcel Opportunity – Westwood Village includes 4 separate parcels including a free-standing pad building near the signalized intersection, Waffle Bite – presenting the potential for a future pad sale and an opportunity to reposition the Waffle Bite pad into a higher and better use – the Carl’s Jr. drive-thru pad is also available for purchase
* Outsized Income Growth – Due to vacant space lease-up, below market rents rolling to market, and embedded rental escalations the Net Operating Income is expected to increase more than $938,300 (243%) upon stabilization and $1,018,000 (264%) over the expected hold period, producing a robust Compound Annual Growth Rate (CAGR) exceeding 29.5%
* Established Retail Center and Location – With its past and current national and regional tenancy, Westwood Village and its location have proven retail viability, benefitting the ability to lease-up the vacancy
* The current tenancy includes Dollar Tree, O’Reilly Auto Parts, Subway, Metro by T-Mobile, Round Table Pizza, and Carl’s Jr. (also available for purchase)
* 11 tenants totaling 34,788 SF (85% of the leased GLA) have occupied the center for 10+ years with 6 tenants totaling 15,456 SF (38% of the leased GLA) 20+ years including Subway, O’Reilly Auto Parts, and Round Table Pizza – Carl’s Jr. (also available for purchase) has been at the center since 1981 (nearly 44 years!)
* Multi-Parcel Opportunity – Westwood Village includes 4 separate parcels including a free-standing pad building near the signalized intersection, Waffle Bite – presenting the potential for a future pad sale and an opportunity to reposition the Waffle Bite pad into a higher and better use – the Carl’s Jr. drive-thru pad is also available for purchase
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
99,133 SF
Building Class
C
Year Built/Renovated
1979/1997
Price
$11,536,000
Price Per SF
$116.37
Cap Rate
3.34%
NOI
$385,845
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
8.31 AC
Zoning
C - Commercial
Frontage
1,099’ on El Camino Drive
Amenities
- Bus Line
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Lucky Donuts
- Manufacturing
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Lorem Ipsum
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Jan 0000
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- Information
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Lorem Ipsum
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Jan 0000
Metro by T-Mobile provides prepaid wireless services without annual contracts. Originally founded in 1994 as General Wireless, the company became MetroPCS before merging with T-Mobile in 2013. The carrier offers various plans with unlimited talk and text, including high-speed data options and mobile hotspot capabilities. Customers benefit from multi-line discounts and access to T-Mobile's nationwide 5G and 4G LTE networks. The brand targets budget-conscious consumers seeking flexibility and value in mobile connectivity.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Lucky Donuts | Manufacturing | - | - | Lorem Ipsum | Jan 0000 | |
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Information | - | - | Lorem Ipsum | Jan 0000 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $5,428,475 | |
| Land Assessment | $1,672,337 | Total Assessment | $7,100,812 |
Property Taxes
Parcel Numbers
Land Assessment
$1,672,337
Improvements Assessment
$5,428,475
Total Assessment
$7,100,812
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Westwood Village | 6536 Westside Rd
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