Mixed-Use Property in Prime
2503 Niles St, Bakersfield, CA 93306
Mixed-use property with redevelopment potential in a high-traffic area.
Type:Mixed Use, Multifamily, Retail, Special Purpose
Property size:
8,617 SFLot size:
1.76 AcresPrice / SF:
$197/SF- Added:
- Sep 9, 2024
- Days on Market:
- 633
- Last Refresh:
- May 12 at 10:01 pm
Property Features for 2503 Niles St
General Information
- Standard status
- Active
- Size
- 8,617 SF
- Lot size
- 1.76 Acres
- Property subtype
- Mixed Use, Multifamily, Retail, Special Purpose
Building Details
- Year Built
- 1961
Listing agent Felix Diaz License #01981655
Listing office Prime Retail Group
Listing date Sep 9, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Prime Retail Group
HighLights
- Irreplaceable location at the Southeast Corner of Niles & Webster St in Bakersfield, CA.
- High visibility and multiple ingress/egress points on a busy retail corridor.
- Large lot size of +/- 1.76 acres.
- Combined rentable square footage of +/- 8,617 SF including a two‑story building, sanctuary, and separate office building.
- Mixed zoning (C‑1 & R‑2) allows for adaptive reuse or development opportunities.
- Strong demographics in the surrounding area.
Overview
Located at the Southeast Corner of Niles & Webster Street in Bakersfield, CA, this mixed-use property offers an opportunity for purchase or lease. The buildings have a combined rentable area of approximately 8,617 square feet, including a two-story building, a sanctuary, and a separate office building, all situated on approximately 1.76 acres of land. The location benefits from strong demographics, multiple points of entry and exit, and high visibility from all directions. The property is zoned C-1 and R-2, presenting an adaptive reuse opportunity with the existing structures or a development opportunity with a Junior Anchor plus Retail/QSR or a Gas Station. Niles Street is a busy retail corridor in East Bakersfield, and this site holds potential after acquisition.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $215.1k | $24.96 |
| − Vacancy | −$12.9k | −$1.50 |
| EGI | $202.2k | $23.46 |
| − OpEx | −$60.7k | −$7.04 |
| NOI | $141.5k | $16.42 |
8,617 SF · lease $24.96/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.02M
$1.77M – $2.36M
NOI $141,523 @ 7.0% cap · market cap 8.33%
Second Best
Office B
$1.72M
$1.51M – $2.01M
NOI $120,517 @ 7.0% cap · market cap 7.09%
Theoretical Best
Specialty Retail
$2.30M
$2.02M – $2.69M
NOI $161,233 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Greater Bakersfield Ministries
Church
Location Insight
- Map
- Local Demand
- City
- Bakersfield
- County
- Kern
- State
- California
- Longitude
- -118.9626874
- Latitude
- 35.3754068
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with redevelopment potential in a high-traffic area.
Where is this mixed-use property located?
The property is located at 2503 Niles St Bakersfield, CA.
What is the asking price?
The asking price for this property is $1,699,900.
What are key features of this property?
This property features: Irreplaceable location at the Southeast Corner of Niles & Webster St in Bakersfield, CA.; High visibility and multiple ingress/egress points on a busy retail corridor.; Large lot size of +/- 1.76 acres.
