2050 White LnBakersfield, CA 93304
- Retail properties
- 4,946 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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