141 Chester AveBakersfield, CA 93308

Property Details for 141 Chester Ave

Year built

1978

Construction

WOOD

Lot size

1.70 AC

Property size (Sq ft)

4,480 SF

Zone code

C-2

Property type

Auto shops

APN

114-250-12-00-8

APU

11425012008

Description

This exceptional 1.71-acre (74,296 square foot) commercial land parcel, located at 141 N Chester Avenue in Bakersfield, California (zip code 93308), presents a unique redevelopment opportunity. Situated in the Oildale area of unincorporated Kern County, this C-2 zoned property boasts 203 feet of street frontage and is a corner lot. The site is fully entitled and shovel-ready for the construction of a +/- 80,000 square foot, three-story, climate-controlled self-storage facility with a gross area of 107,860 square feet and approximately 810 units. This project offers significant potential due to the absence of other fully climate-controlled self-storage facilities within a five-mile radius. The land is currently vacant, previously occupied by a used car dealership and mechanic warehouse. The property includes 30 existing parking spaces. The land value is $21.48 per square foot. The parcel's APN is 114-250-12-00-8. This is a modified lease type property with no rent bumps. This is a private ownership opportunity. This is a redevelopment investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $1,877,354

  6.5%

  $1,732,942

  7%

  $1,609,161

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,146,830

  Geo Method

  $2,146,830

• Alternative Use

  Use

  Valuation

  Residential

  $1,461,802

  Hospitality

  $1,339,002

  Educational

  $1,114,034

  Medical

  $1,152,348

  Retail

  $1,732,942

Location Insight

City

Bakersfield

County

Kern

State

California

Latitude

35.4064

Longitude

-119.022

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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