919 Chester AveBakersfield, CA 93308

Property Details for 919 Chester Ave

Year built

1924

Construction

WOOD

Lot size

0.06 AC

Property size (Sq ft)

2,646 SF

Zone code

C2

Property type

Retail space

APN

113-262-12-00-8

APU

11326212008

Description

This 2,646 square foot commercial property, located at 919 N Chester Ave, Bakersfield, CA 93308, presents a compelling investment or owner-user opportunity. Built in 1924, this single-story, Class C building is currently vacant and ready for immediate occupancy. The property boasts a prime location on a high-traffic corner, offering excellent visibility and accessibility. Its proximity to Standard Elementary School and public transportation further enhances its appeal. The asking price is $275,000, with a pro-forma cap rate of 12.70% and a pro-forma NOI of $34,927. The price per square foot is $103.93. This versatile space is suitable for various uses, including medical office, storefront retail, or traditional office space. The sale includes one building and one unit. An added benefit is the availability of two additional lots for $20,000, providing potential for expansion or supplemental income generation. This presents a unique chance to acquire a high-return property in a thriving Bakersfield location. The property is zoned for office, retail, and medical uses. The building sits on a single story and offers a blank canvas for renovation and customization to suit the buyer's needs. The seller is motivated and open to offers.

• CAP approach

  CAP return

  Valuation

  6%

  $1,108,790

  6.5%

  $1,023,499

  7%

  $950,392

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,267,972

  Geo Method

  $1,267,972

• Alternative Use

  Use

  Valuation

  Residential

  $863,359

  Hospitality

  $790,833

  Educational

  $657,963

  Medical

  $680,592

  Retail

  $1,023,499

Location Insight

City

Bakersfield

County

Kern

State

California

Latitude

35.4154

Longitude

-119.021

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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