10215 Stobaugh StLamont, CA 93241

  • Specialty properties
  • 9,802 SF
For Sale
$1,400,000 View listing

Property Details for 10215 Stobaugh St

Year built
1994
Construction
WOOD
Lot size
0.64 AC
Property size (Sq ft)
9,802 SF
Zone code
C2 FPS
Property type
Specialty properties
Property subtype
Day care centers & nurseries
APN
186-052-25-00-7
APU
18605225007

Description

This exceptional investment opportunity presents a single-tenant office building located at 10215 Stobaugh St, Lamont, CA 93241. The property, boasting 9,802 square feet, is currently 100% occupied by the County of Kern, providing essential services to the Lamont community. The lease commenced on March 1st, 2023, and has a remaining term of approximately 3.3 years, expiring February 28th, 2028. The asking price is $1,400,000, representing a compelling price per square foot of $142.83, significantly below replacement cost. The building, constructed in 1994, is a single-story structure situated on a single lot (APN 186-052-25) and features ample parking. The property generates a strong net operating income (NOI) of $83,526, resulting in an attractive 6.00% capitalization rate. Recent interior improvements enhance the building's functionality and appeal. This is a rare opportunity to acquire a stable, income-producing asset in a growing community, offering a secure investment with significant upside potential. The property is classified as a traditional office building.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,730,122
    6.5%
    $2,520,113
    7%
    $2,340,105
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,143,540
    Geo Method
    $2,143,540
  • Alternative Use

    Use
    Valuation
    Residential
    $3,196,870
    Hospitality
    $2,928,315
    Educational
    $2,436,324
    Medical
    $2,520,113
    Retail
    $3,789,837
10215 Stobaugh St, Lamont, California

Location Insight

City
Lamont
County
Kern
State
California
Latitude
35.2629
Longitude
-118.915
CBSA code
12540
CBSA name
BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$20,338
$226,217
$1,530,302
$1,756,519
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