1201 24Th StBakersfield, CA 93301

Property Details for 1201 24Th St

Year built

2006

Construction

WOOD

Lot size

2.10 AC

Property size (Sq ft)

43,945 SF

Zone code

C2

Property type

Retail properties

Property subtype

Strip malls

APN

005-332-01-00-8

APU

533201008

Description

The Village at Towne Centre, located at 1201 24th Street in Bakersfield, California (zip code 93301), presents a unique investment opportunity. This single, two-story building offers a combined 6,159 square feet of retail and office space, situated on a prominent corner lot at the intersection of 24th Street and L Street. The property is zoned C-2, allowing for a variety of commercial uses. Currently, there are multiple spaces available, ranging from a minimum of 960 square feet to a maximum contiguous space of 4,000 square feet. A total of 11,412 square feet is currently vacant, presenting significant potential for immediate income generation. The property's location in Kern County provides excellent access to a thriving Bakersfield market. This is an exceptional opportunity to acquire a well-situated commercial property with considerable flexibility for various business types. The property's size and layout make it ideal for a variety of tenants, from small businesses to larger retail operations. The existing infrastructure is ready for immediate occupancy, minimizing upfront investment costs. This prime Bakersfield location offers high visibility and easy access for customers and employees. The property's strategic location and flexible space options make it an attractive investment for both short-term and long-term growth.

• CAP approach

  CAP return

  Valuation

  6%

  $18,415,432

  6.5%

  $16,998,860

  7%

  $15,784,655

• Comparable approach

  Method

  Valuation

  Relative Method

  $21,058,584

  Geo Method

  $21,058,584

• Alternative Use

  Use

  Valuation

  Residential

  $14,339,174

  Hospitality

  $13,134,606

  Educational

  $10,927,838

  Medical

  $11,303,663

  Retail

  $16,998,860

Location Insight

City

Bakersfield

County

Kern

State

California

Latitude

35.3806

Longitude

-119.016

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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