Freestanding Retail Ready for National Tenant | 1345 Dana Dr
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Freestanding Retail Ready for National Tenant 1345 Dana Dr
6,869 SF Vacant Retail Building Online Auction Sale Redding, CA 96003
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Investment Highlights
- 1345 Dana Drive is home to a 6,869-square-foot freestanding retail/restaurant building formerly occupied by national tenant Red Lobster.
- National retailer’s opportunity to move into the space with prominent pylon and building signage, abundant parking, and premier visibility.
- Nearby national tenants: Winco Foods, Target, Hobby Lobby, Olive Garden, In-N-Out, Subway, Chipotle, Chick-fil-A, PetSmart, Macy’s, and Starbucks.
- Strategic location off the CA 44 Freeway exit, shadow-anchored by Walmart Supercenter with an average household income of $77,048 within 3 miles.
- Dana Drive sees 20,406 cars passing daily, and Friendly Road sees 8,465, a highly visible location at the signalized intersection.
Executive Summary
As the exclusive advisor, the Alvino Group of Marcus & Millichap is pleased to present an excellent retail opportunity in the thriving city of Redding, California. 1345 Dana Drive is a 6,869-square-foot freestanding retail building, formerly home to the national tenant Red Lobster. The property is ideally positioned just off the Interstate 5/ Highway 44 interchange and the epicenter of the Mount Shasta Mall major retail corridor, which features over 1.25 million square feet of retail space. 1345 Dana Drive has a primary ingress/ egress point off Dana Drive and sees a combined surplus of 28,800 vehicles passing daily via the intersection of Dana Drive and Friendly Road.
Redding, California, benefits from significant public and private investment in infrastructure, including transportation and public services, enhancing its appeal as a business location. Recent and ongoing development projects aim to revitalize the downtown area and improve public amenities, fostering a vibrant urban environment conducive to business and residential growth. Directly across from 1345 Dana Drive is a Target, Hobby Lobby, Cinemark, and others, demonstrating the desire for major retailers and showcasing the intrinsic value of real estate around 1345 Dana Drive. Shasta Lake, just north of Redding, sees around 2.5 million visitors annually. Shasta National Forest, spanning over 2.2 million acres in northern California, is a haven for outdoor enthusiasts. Redding is dominated by the majestic Mount Shasta, which offers diverse landscapes of forests, lakes, and mountains, ideal for hiking, camping, fishing, and skiing. Wildlife thrives here, with opportunities for wildlife viewing and birdwatching. Rich in history and culture, this national park has over 1.2 million visitors annually.
Commercial properties in Redding offer a compelling value proposition due to the area’s growing population, stable economy, and ongoing developments. Investors can capitalize on lower property prices compared to larger Californian cities while still enjoying the benefits of a growing market. The local economy in Redding is diverse, with key industries including healthcare, retail, and manufacturing. Major employers like Mercy Medical Center and the retail sector around the Mount Shasta Mall support local economic stability and growth. Additionally, Redding’s location makes it a logistical hub for businesses operating between the broader regions of Northern California and Oregon. Moreover, Redding is the largest city in Shasta County and is the county seat.
Property tours are available by appointment only. Please get in touch with the listing broker to schedule.
Redding, California, benefits from significant public and private investment in infrastructure, including transportation and public services, enhancing its appeal as a business location. Recent and ongoing development projects aim to revitalize the downtown area and improve public amenities, fostering a vibrant urban environment conducive to business and residential growth. Directly across from 1345 Dana Drive is a Target, Hobby Lobby, Cinemark, and others, demonstrating the desire for major retailers and showcasing the intrinsic value of real estate around 1345 Dana Drive. Shasta Lake, just north of Redding, sees around 2.5 million visitors annually. Shasta National Forest, spanning over 2.2 million acres in northern California, is a haven for outdoor enthusiasts. Redding is dominated by the majestic Mount Shasta, which offers diverse landscapes of forests, lakes, and mountains, ideal for hiking, camping, fishing, and skiing. Wildlife thrives here, with opportunities for wildlife viewing and birdwatching. Rich in history and culture, this national park has over 1.2 million visitors annually.
Commercial properties in Redding offer a compelling value proposition due to the area’s growing population, stable economy, and ongoing developments. Investors can capitalize on lower property prices compared to larger Californian cities while still enjoying the benefits of a growing market. The local economy in Redding is diverse, with key industries including healthcare, retail, and manufacturing. Major employers like Mercy Medical Center and the retail sector around the Mount Shasta Mall support local economic stability and growth. Additionally, Redding’s location makes it a logistical hub for businesses operating between the broader regions of Northern California and Oregon. Moreover, Redding is the largest city in Shasta County and is the county seat.
Property tours are available by appointment only. Please get in touch with the listing broker to schedule.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,869 SF
Building Class
B
Year Built
1991
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Land Acres
1.76 AC
Zoning
RC, Redding
Parking
124 Spaces (18.05 Spaces per 1,000 SF Leased)
Frontage
Walk Score ®
Very Walkable (73)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
9,724
62,827
101,874
2020 Population
9,429
60,911
98,144
2029 Population
9,720
62,806
101,965
2024-2029 Projected Population Growth
0.0%
0.0%
0.1%
Daytime Employees
9,392
48,139
60,058
Total Businesses
1,145
6,034
7,762
Average Household Income
$77,113
$78,732
$84,209
Median Household Income
$62,742
$58,234
$63,241
Total Consumer Spending
$114.5M
$756.6M
$1.3B
Median Age
36.6
38.5
40.1
2024 Households
3,880
25,721
40,947
Percent College Degree or Above
18%
15%
15%
Average Home Value
$347,420
$373,601
$398,521
$ values in USD
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,874,544 CAD | |
| Land Assessment | $1,942,132 CAD | Total Assessment | $3,816,676 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,942,132 CAD
Improvements Assessment
$1,874,544 CAD
Total Assessment
$3,816,676 CAD
Sale Advisors
Sale Advisors
Dustin Alvino, Senior Vice President of Investments
(702) 215-7120
Contact
Dustin R. Alvino leads the top producing team in Marcus & Millichap's Las Vegas office. After joining the firm at the end of 2011, Dustin quickly became the firm's top net-leased and retail agent in Nevada and one of the firm's top producers. He and his team specialize in consulting with private investors, institutions, franchisee's and developers, on the sale, exchange, and purchase of shopping centers and net-lease properties located across North America. Dustin strongly believes in being "relationship-oriented" and has built a substantial client base by putting his clients' interest first. His dedication and tireless work ethic have also contributed to his team becoming Nevada's most knowledgeable and successful investment advisory team. Dustin has closed properties tenanted by well-known regional and national brands such as 7-Eleven, Taco Bell, Arby's, Autozone, Lone Star Distribution, Big O' Tires, Rainbow Markets, Roberto's Taco Shop, Family Dollar, Dollar General, O'Reilly Auto Parts, Dairy Queen, Subway and many more. His team also represent clients in lease negotiation and successfully negotiated deals with tenants such as 7-Eleven, Moneytree, Starbuck's, Jack-in-the-Box, Circle K, Arby's and many more. Dustin is a Director of the National Retail Group and the Net-Leased Properties Group at Marcus & Millichap. He graduated from Canisius College in Buffalo, New York, with a double major in Finance and Economics, and was part of an exclusive investment team selected to oversee the college's Endowment Fund.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Mary Humphreys
Contact
Auctioneer License:
Ten-X Jessica Figueroa RE Brkr 01937601. Ten-X Auction Surety Bond 106465786
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Michael Merhi -
Dustin Alvino -
Marcus & Millichap
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Freestanding Retail Ready for National Tenant | 1345 Dana Dr
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