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    2503 Niles St Bakersfield, CA 93306

    Sponsored
    For Sale
    $1,950,000

    1.76-acre prime retail redevelopment opportunity.

    Property size:
    8,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 1.76-acre mixed-use property in Bakersfield, CA, presents a compelling redevelopment opportunity. Located at 2503 Niles St, this C-Class, fee-simple site boasts approximately 8,700-8,800 square feet across three buildings on six parcels, with 378 feet of Niles Street frontage and multiple access points. The property features a two-story building, a separate office building, and a sanctuary, currently operating at 100% occupancy. Built in 1961, the buildings are situated on a lot zoned C-1 & R-2, allowing for adaptive reuse or new construction. The existing structures offer a combined rentable square footage of approximately 8,700-8,800 square feet. This high-visibility corner location on a busy retail corridor presents significant potential for a junior anchor tenant plus additional retail, quick-service restaurants, or a gas station. The asking price is $1,950,000, representing a price per square foot below replacement cost. The property is subject to a ground lease and is suitable for a 1031 exchange. This irreplaceable infill real estate offers tremendous upside potential for the right vision. The property's APN is 137-390-26-6.

    Property Features for 2503 Niles St

    General Information

    Property type
    Restaurants
    Square Feet
    8,700 SF
    Class
    C
    Lot Size
    76,666 SF

    Building Details

    Year Built
    1961
    Buildings
    3
    Stories
    2
    Units
    3

    HighLights

    • 1.76‑acre mixed‑use property in Bakersfield, CA, on six parcels.
    • 378 feet of Niles Street frontage with multiple access points.
    • High‑visibility corner location on a busy retail corridor.
    • Redevelopment opportunity for a junior anchor tenant, plus QSR, retail, or gas station.
    • Irreplaceable infill real estate suitable for adaptive reuse or redevelopment.
    • Priced below replacement cost at $1.95M ($226/SF).
    Property Profile Location Intelligence

    Current Use by Public Records

    Greater Bakersfield Ministries Church

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -118.9630673408
    Latitude
    35.375859549791

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    FAQs

    What type of property is this?
    Restaurant - 1.76-acre prime retail redevelopment opportunity.
    Where is this restaurant located?
    The property is located at 2503 Niles St Bakersfield, CA.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: 1.76-acre mixed-use property in Bakersfield, CA, on six parcels.; 378 feet of Niles Street frontage with multiple access points.; High-visibility corner location on a busy retail corridor.
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    2503 Niles St Bakersfield, CA 93306
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2503 Niles St Bakersfield, CA 93306
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