314 Center StTaft, CA 93268

Property Details for 314 Center St

Year built

1918

Construction

WOOD

Lot size

0.07 AC

Property size (Sq ft)

2,731 SF

Zone code

DC

Property type

Retail properties

Property subtype

Turn key restaurants

APN

031-030-16-00-2

APU

3103016002

Description

This exceptional business opportunity presents a substantial 2,731 square foot building ideally situated at 314 Center Street in Taft, California. The property boasts a rich history, having served as a thriving restaurant for over half a century. Currently vacant, this building is ready for its next chapter. The expansive space includes a large kitchen area complete with a 16-foot hood, ample storage, and two bathrooms. The layout comfortably accommodated approximately 50 diners with existing tables and booths, which are included in the sale. A significant advantage is the inclusion of living quarters above the commercial space, featuring four rooms and a third bathroom. This provides a unique opportunity for owner-occupancy or additional rental income. While the property requires some updates, including new flooring and kitchen equipment, the substantial size and existing infrastructure offer significant potential for a variety of uses. The building's location benefits from a public parking lot directly across the street, ensuring convenient access for customers. Note that the adjacent building at 312 Center Street is also available for purchase. The seller is willing to consider carrying a short-term mortgage with a 30% down payment. The lot size is 0.07 acres. The asking price is $205,900.

• CAP approach

  CAP return

  Valuation

  6%

  $1,148,013

  6.5%

  $1,059,704

  7%

  $984,011

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,308,704

  Geo Method

  $1,308,704

• Alternative Use

  Use

  Valuation

  Residential

  $893,900

  Hospitality

  $818,808

  Educational

  $681,239

  Medical

  $704,668

  Retail

  $1,059,704

Location Insight

City

Taft

County

Kern

State

California

Latitude

35.1405

Longitude

-119.457

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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