10215 Stobaugh StLamont, CA 93241

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

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.

• 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

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

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