819 Reddick Street

Freestanding, two-story office/R&D/industrial building available for purchase in the cannabis zone. Second floor office space is very nicely improved and comprised of a mix of perimeter offices and large open bullpen areas. First floor is comprised of a highly improved wet lab area installed by Apeel Sciences in 2016 and other office/storage improvements installed by Coastal Holding Company (cannabis company) in 2019. The property previously had three (3) cannabis permits (manufacture, distribution and delivery) that were issued in 2019 and are now inactive. Existing tenant is no longer using the facility and has subleased the entire building through 12/31/26. Other property features include ample natural light through extensive window lines, security cameras, multiple entrances (electronic access), and a convenient location near the amenities of Milpas Street.

Parcel Size: 819 Reddick 9,147 SF 822 E Haley 6,098 SF Total 15,245 SF Price: $4,500,000 ($465 psf, 8.92% cap rate) NOI: $401,609 (as of 9/1/24) APN: 031-303-024 (819) and 031-303-006 (822) Floors: Two Year Built: Major remodel/addition in 1990 Construction Type: Wood frame Roof Age: Varies from 1998 to 2015 Elevator: No Loading: Double-door at ground level Ceilings: Approximately 9’ Sprinklers: Yes Restrooms: 5 unisex (3 downstairs, 2 upstairs) HVAC: 2 newer Aaon package units for lab, 3 newer Samsung split units, 4 older York package units Parking: 17 reserved spaces, plus street Zoning: M-1 (819 Reddick) and C-G (822 E Haley) To Show: Call listing agent CSO: 2