2050 White LnBakersfield, CA 93304

  • Retail properties
  • 4,946 SF
For Sale
$3,201,000 View listing

Property Details for 2050 White Ln

Year built
2003
Construction
WOOD
Lot size
0.77 AC
Property size (Sq ft)
4,946 SF
Zone code
C-2
Property type
Retail properties
Property subtype
Banks
APN
405-010-59
APU
40501059

Description

This exceptional investment opportunity presents a fee-simple, single-tenant, net-leased Chase Bank property located at 2050 White Ln, Bakersfield, CA 93304. The 4,708 square foot building, constructed in 2001 and renovated in 2009, sits on a 33,541 square foot lot and boasts a 4.00% cap rate with a current NOI of $128,040. The property features a drive-thru and is situated in a high-traffic area as an outparcel to a Superior Grocers anchored shopping center near the 99 Freeway, presenting potential for future redevelopment. The lease, originally commencing August 9, 2001, has a remaining term of 2.6 years, expiring June 14, 2027, with two five-year lease options and 10% rent bumps every five years. The tenant, Chase Bank, is credit-rated, ensuring consistent income. The asking price is $3,201,000, translating to a price per square foot of $679.91. The property's APN is 405-330-30-00-4. This is a 1031 exchange eligible property offering a strong return on investment with a stable, nationally recognized tenant. Branch deposits as of June 30, 2022, were approximately $129 million. The property is 100% occupied since its opening on August 9, 2001. This is a rare opportunity to acquire a high-quality, net-leased retail property with significant upside potential.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,073,031
    6.5%
    $1,913,567
    7%
    $1,776,884
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,370,139
    Geo Method
    $2,370,139
  • Alternative Use

    Use
    Valuation
    Residential
    $1,614,165
    Hospitality
    $1,478,567
    Educational
    $1,230,150
    Medical
    $1,272,457
    Retail
    $1,913,567
2050 White Ln, Bakersfield, California

Location Insight

City
Bakersfield
County
Kern
State
California
Latitude
35.318
Longitude
-119.026
CBSA code
12540
CBSA name
BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2016
$18,931
$611,729
$1,027,710
$1,639,439
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