1211 Olive DrBakersfield, CA 93308

Property Details for 1211 Olive Dr

Construction

WOOD

Lot size

0.94 AC

Zone code

M-2

Property type

Parking lots & garages

APN

116-200-07-00-3

APU

11620007003

Description

This exceptional retail opportunity in Bakersfield, CA, presents 29,565 square feet of vacant space in a 29,565 square foot building situated on 1.29 acres of land. Built in 1986 and zoned M-2, the property boasts a highly desirable location at 1211 Olive Dr, Bakersfield, CA 93308, at the southeast corner of Roberts Lane and Olive Drive. Benefitting from excellent visibility and accessibility, the property enjoys daily traffic counts exceeding 20,000 vehicles and convenient access to Highway 99. The property is currently anchored by 99¢ Only Stores and a new Grocery Outlet, ensuring high foot traffic and a strong retail environment. Additional co-tenants include established businesses such as Goodwill, Subway, H&R Block, and Sonic, creating a vibrant and diverse tenant mix. The property's single suite configuration offers significant flexibility for a variety of retail uses. The APN is 116-200-17. This is a rare opportunity to secure a prominent retail space in a thriving Bakersfield location.

• CAP approach

  CAP return

  Valuation

  6%

  $17,160,588

  6.5%

  $15,840,543

  7%

  $14,709,076

• Comparable approach

  Method

  Valuation

  Relative Method

  $19,621,454

  Geo Method

  $19,621,454

• Alternative Use

  Use

  Valuation

  Residential

  $13,362,091

  Hospitality

  $12,239,603

  Educational

  $10,183,206

  Medical

  $10,533,422

  Retail

  $15,840,543

Location Insight

City

Bakersfield

County

Kern

State

California

Latitude

35.4119

Longitude

-119.046

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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