Mixed-Use Property in Prime
For Sale
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2503 Niles St, Bakersfield, CA 93306
Mixed-use property with redevelopment potential in a high-traffic area.
Property Size8,617 SF
Lot Size1.76 Acres
Price / SF$174.07
Days on Market768
Property Features for 2503 Niles St
General Information
Standard status
Active
Size
8,617 SF
Class
C
Lot size
1.76 Acres
Property subtype
Mixed Use, Multifamily, Retail, Special Purpose
Zoning
C-1 & R-2
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1961
Buildings
3
Stories
2
Units
3
Listing Agency:
Prime Retail Group
Listed By:
Felix Diaz · License #01981655
(661) 889-3201
Source:
Crexi
Added: Sep 9, 2024
Changed: Oct 14
Last Checked: Oct 16 at 8:11AM
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
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Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,517
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,410,340
$2.4M
Cap Rate 7%
$1,721,671
$1.7M
Cap Rate 9%
$1,339,078
$1.3M
Market Conditions
NOI Build-Up for 8,617 SF
Gross rent
$191.3K $22.20/SF
− Vacancy
−$30.6K −$3.55/SF
EGI
$160.7K $18.65/SF
− OpEx
−$40.2K −$4.66/SF
NOI
$120.5K $13.99/SF
Area
ZIP 93306
Vacancy
16.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,410,340
Cap Rate 7%
$1,721,671
Cap Rate 9%
$1,339,078
Alternative Uses
Best Use
Retail
$2.02M
$1.77M – $2.36M
NOI $141,523 @ 7.0% cap · market cap 9.43%
Second Best
Office B
$1.72M
$1.51M – $2.01M
NOI $120,517 @ 7.0% cap · market cap 8.03%
Theoretical Best
Specialty Retail
$2.30M
$2.02M – $2.69M
NOI $161,233 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,229
Businesses Nearby
Explore this area
Business Placement
Demographics for 93306, CA
74,623
Population
23,789
Households
3.1
Avg Household Size
32
Median Age
18%
College-Educated
77%
High-School Grad
97.3 sq mi
ZIP Area
767
Density / Sq Mi
$66,988
Median Household Income
$35,696
Median Earnings
$1,219
Median Rent
$290,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
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 $1,500,000.
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.
