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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
* 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
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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- Information
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At Metro by T-Mobile, they believe in the power of connection. They’re all about giving customers reliable wireless service at a fair price so they can stay connected to the people, places, and moments that light up their world. And they do it with unwavering transparency and simplicity. They deliver a customer experience that’s BS-free and crystal-clear. They do that with transparent pricing, with taxes and fees included in the plan price so customers know what to expect every month. They also do it with unlimited talk, text, and data, so they have the freedom to stay connected on T-Mobile's leading 5G network. And they have thousands of stores to make sure there’s one in all neighborhoods. They’ve built a brand that customers have chosen, making them the undisputed leader in prepaid. With Metro, customers score access to the nation’s largest 5G network and the largest selection of free 5G phones in prepaid.
| 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
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Westwood Village | 6536 Westside Rd
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