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Listed by Nick Kerley • Realty 110, Inc.
$ 995,000
Est. payment | /mo
11,072 SqFt
$ 995,000
Est. payment | /mo
11,072 SqFt
Key Details
Property Type Other Types
Sub Type Mixed Use
Listing Status Pending
Purchase Type For Sale
Square Footage 11,072 sqft
Price per Sqft $89
MLS Listing ID 26-6480
Year Built 1957
Property Sub-Type Mixed Use
Source Shasta Association of REALTORS®
Property Description
CLASSIC INN, 29-ROOM HOTEL, SELLER FINANCING AVAILABLE
Hospitality investment with owner-operator flexibility in the heart of Red Bluff! Located at 1142 Main Street, the Classic Inn offers 29 guest rooms and approximately 11,072 square feet on a 22,079-square-foot parcel zoned C-3. Improvements include new flooring throughout and five renovated guest rooms, with potential to further enhance the property through additional updates.
Offered at $995,000, the property's financial analysis reports annual hotel operating income of $292,384 and net operating income of $109,956, representing an approximately 11.05% cap rate at the asking price. The 2026 pro forma projects income of $301,156 and net operating income of $118,728, equating to an approximately 11.93% pro forma cap rate. These figures reflect hotel operations; returns under the existing operator lease differ. Ownership pays property taxes and insurance.
Continue with the existing lease for an income-producing investment, or explore operating the hotel directly. Per the offering memorandum, a buyer may terminate the existing lease with 30 days' written notice, subject to verification of lease terms. Seller financing is available, with terms negotiable. Seller will consider all reasonable offers.
An opportunity to acquire an established Main Street hospitality property with income, renovation potential, and flexible ownership options. Buyer to verify financials, lease provisions, square footage, zoning, and permitted uses.
Hospitality investment with owner-operator flexibility in the heart of Red Bluff! Located at 1142 Main Street, the Classic Inn offers 29 guest rooms and approximately 11,072 square feet on a 22,079-square-foot parcel zoned C-3. Improvements include new flooring throughout and five renovated guest rooms, with potential to further enhance the property through additional updates.
Offered at $995,000, the property's financial analysis reports annual hotel operating income of $292,384 and net operating income of $109,956, representing an approximately 11.05% cap rate at the asking price. The 2026 pro forma projects income of $301,156 and net operating income of $118,728, equating to an approximately 11.93% pro forma cap rate. These figures reflect hotel operations; returns under the existing operator lease differ. Ownership pays property taxes and insurance.
Continue with the existing lease for an income-producing investment, or explore operating the hotel directly. Per the offering memorandum, a buyer may terminate the existing lease with 30 days' written notice, subject to verification of lease terms. Seller financing is available, with terms negotiable. Seller will consider all reasonable offers.
An opportunity to acquire an established Main Street hospitality property with income, renovation potential, and flexible ownership options. Buyer to verify financials, lease provisions, square footage, zoning, and permitted uses.
Location
State CA
County Tehama
Direction South on Main st. property is located on the left
Exterior
Parking Features Off Street
Building
Building Description Stucco,Wood Siding, Stucco,Wood Siding
Level or Stories NaN
Structure Type Stucco,Wood Siding
Others
Senior Community No
Tax ID 029-264-010-000
Nearby Locations
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