40 Chester AveBakersfield, CA 93301

Property Details for 40 Chester Ave

Year built

1968

Construction

WOOD

Lot size

2.34 AC

Property size (Sq ft)

23,640 SF

Zone code

C-2

Property type

Retail properties

Property subtype

Retail space

APN

010-312-17-00-7

APU

1031217007

Description

This exceptional retail property, situated at 40 Chester Avenue in Bakersfield, California, presents a unique investment opportunity. The building, formerly occupied by Walgreens, boasts a substantial 14,750 square feet of space, currently entirely vacant and ready for immediate occupancy. The single-story structure is located in Kern County, at the highly visible corner of Chester Avenue and Brundage Lane, ensuring excellent exposure to high traffic volume. The property's classification is retail, specifically a former drug store, making it ideal for a variety of uses. The building's size and location offer significant potential for a wide range of businesses seeking a prominent presence in a bustling Bakersfield neighborhood. With its convenient access and high visibility, this property is poised to attract a strong customer base. The 14,750 square feet of vacant space provides ample room for customization and adaptation to suit the needs of a new tenant. This is a rare opportunity to acquire a well-positioned, substantial retail space in a thriving California market. The property's address is 40 Chester Ave, Bakersfield, CA 93301.

• CAP approach

  CAP return

  Valuation

  6%

  $9,907,075

  6.5%

  $9,144,992

  7%

  $8,491,779

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,328,364

  Geo Method

  $11,328,364

• Alternative Use

  Use

  Valuation

  Residential

  $7,714,143

  Hospitality

  $7,066,114

  Educational

  $5,878,924

  Medical

  $6,081,109

  Retail

  $9,144,992

Location Insight

City

Bakersfield

County

Kern

State

California

Latitude

35.3546

Longitude

-119.018

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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