2050 White LnBakersfield, CA 93304

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

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.

• 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

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