1115 Union AveBakersfield, CA 93304

Property Details for 1115 Union Ave

Year built

2002

Construction

WOOD

Lot size

4.19 AC

Property size (Sq ft)

55,536 SF

Zone code

C2

Property type

Grocery and convenience stores

APN

009-512-03-00-4

APU

951203004

Description

This exceptional 25,000 square foot anchored pad site presents a unique investment opportunity in Bakersfield, California. Located at 1115 Union Avenue, this single-tenant property boasts a highly desirable location at the southwest corner of East California Avenue and Union Avenue (Highway 204), providing convenient access to Highways 58 and 178. The property is currently anchored by Superior Grocers, ensuring strong visibility and consistent traffic. The site is classified as Land with an Anchored Pad subtype in Kern County, offering significant potential for long-term growth and return. The property features shared parking in common areas, providing ample space for customers and employees. This is an ideal opportunity for investors seeking a stable, long-term ground lease investment in a thriving Bakersfield commercial area. The property's strategic location and established anchor tenant make it an attractive proposition for businesses seeking high visibility and convenient access to major transportation routes. The 93304 zip code ensures a strong local market presence. Serious inquiries are encouraged to explore the possibilities of this prime commercial land parcel. Further details regarding the potential ground lease are available upon request. This is a rare opportunity to acquire a well-positioned, high-traffic commercial property in a growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $18,043,400

  6.5%

  $16,655,500

  7%

  $15,465,800

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,983,200

  Geo Method

  $10,983,200

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $32,401,800

  Mixed-Use / Specialty

  $16,627,600

  Hospitality / Lodging

  $12,240,200

  Office

  $16,561,700

  Institutional / Educational

  $17,297,300

  Residential Income

  $20,237,900

  Multifamily

  $24,097,400

  Automotive / Energy

  $14,826,300

  Parking / Income-Based Land

  $5,085,210

  Restaurant / Food Service

  $8,715,450

  Healthcare / Senior Housing

  $17,019,000

Location Insight

City

Bakersfield

County

Kern

State

California

Latitude

35.3673

Longitude

-119.004

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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