Discover Quail Run, a rare and coveted commercial office complex that seamlessly blends distinctive architecture, a prime Paradise, CA location, and significant untapped earning potential. This iconic landmark boasts a visually captivating design, featuring a delightful courtyard, lush mature landscaping, and a tranquil waterfall—details that elevate it above ordinary commercial spaces.
Rentable Office Space totaling 22,320+/- SqFt on 2.61 acres.
Various lease periods with Average Rate of $1.12/SqFt Gross Lease. With a solid tenant base providing stability, there’s still plenty of room for strategic repositioning to boost revenue.
Currently at 67.32% Occupied. At current $/SqFt rent average it is a 6.51 CAP Rate at 90% Occupancy.
Average rents should be around $1.50/SqFt which at 90% occupied would bring the Cap Rate up to 9.8%
Cost to rebuild something of this caliber would be $300+/SqFt. & at only $94/SqFt this place is a steal at 1/3 the replacement value.
Owner recently finished Tenant Improvements for PG&E who just moved in and signed a new lease. They expect to be there a long time. Very good 5% increases per year!!!
The property presents clear opportunities for rent increases, making it a prime choice for investors eyeing value-add prospects.
The property presents clear opportunities for rent increases, making it a prime choice for investors eyeing value-add prospects.