2509 Mount Vernon AveBakersfield, CA 93306

Property Details for 2509 Mount Vernon Ave

Year built

2008

Construction

WOOD

Lot size

2.31 AC

Property size (Sq ft)

16,520 SF

Zone code

C-2

Property type

Retail properties

Property subtype

Retail space

APN

129-010-80-00-3

APU

12901080003

Description

This exceptional retail opportunity is located in Northeast Bakersfield at the highly visible northeast corner of Mt. Vernon Avenue and Bernard Street. The property boasts newer construction with attractive architecture, ensuring strong curb appeal and attracting significant customer attention. With a total of 4,560 square feet, the center is comprised of three suites, offering flexibility for various retail businesses. One suite, measuring 1,080 square feet, is currently available. The property benefits from excellent access to Highway 178, providing convenient access for customers and employees. Daily traffic counts on Mt. Vernon Avenue and Bernard Street reach 37,500 vehicles, guaranteeing high visibility and substantial foot traffic. The limited availability of retail space in this thriving trade area makes this an exceptional investment opportunity. Strong co-tenancy is provided by established businesses such as Rite Aid, Bank of the Sierra, and Proximity Urgent Care. Furthermore, the property enjoys proximity to major retailers including Home Depot, Walmart, Target, Big 5, and Office Max. The upcoming City Lights at East Hills redevelopment of the former East Hills Mall will further enhance the area's appeal and draw even more customers to the center. This prime location offers a unique chance to establish a successful retail presence in a rapidly growing area of Bakersfield. The property is situated in Kern County.

• CAP approach

  CAP return

  Valuation

  6%

  $6,920,695

  6.5%

  $6,388,334

  7%

  $5,932,024

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,916,437

  Geo Method

  $7,916,437

• Alternative Use

  Use

  Valuation

  Residential

  $5,388,798

  Hospitality

  $4,936,110

  Educational

  $4,106,786

  Medical

  $4,248,024

  Retail

  $6,388,334

Location Insight

City

Bakersfield

County

Kern

State

California

Latitude

35.3909

Longitude

-118.966

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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