3130 24Th StBakersfield, CA 93301

Property Details for 3130 24Th St

Year built

2020

Construction

STEEL FRAME

Lot size

0.52 AC

Property size (Sq ft)

2,320 SF

Zone code

C2

Property type

Retail properties

Property subtype

Gas stations

APN

001-310-05-00-2

APU

131005002

Description

This exceptional investment opportunity presents a single-tenant, 7-Eleven gas station located at 3130 24th St, Bakersfield, CA 93301. The property boasts a prime location in a vibrant city with a growing economy, ensuring high visibility and accessibility. Built in 2020, this 2,320 square foot building sits on a 22,651 square foot lot. The property is leased under a Net-Net (NN) lease agreement with a national tenant, 7-Eleven, providing significant stability and consistent income. The current lease commenced on August 4th, 2020, and has an estimated expiration date of August 3rd, 2035, leaving 12 years remaining on the lease term. The asking price is $3,825,000, representing a price per square foot of $1,648.71 and a compelling 5.15% cap rate. This is a rare opportunity to acquire a well-established, high-performing asset in a desirable market. The property's strong tenant, long-term lease, and attractive financial metrics make it an ideal addition to any investment portfolio. The single-story building offers a straightforward and easily managed investment. This is a turnkey operation with minimal operational involvement required for the investor. The property's location in Kern County, California, provides access to a large and growing customer base.

• CAP approach

  CAP return

  Valuation

  6%

  $972,331

  6.5%

  $897,536

  7%

  $833,426

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,111,751

  Geo Method

  $1,111,751

• Alternative Use

  Use

  Valuation

  Residential

  $757,105

  Hospitality

  $693,504

  Educational

  $576,987

  Medical

  $596,831

  Retail

  $897,536

Location Insight

City

Bakersfield

County

Kern

State

California

Latitude

35.3815

Longitude

-119.038

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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