Single-Tenant Medical Office
901 34th Street Bakersfield, CA 93301
901 34th Street, Bakersfield, CA, 93301
$525,000
For Sale
$525,000
Fully leased single-tenant medical office on a gated corner parcel with 15 parking spaces and 2023 renovation improvements.
Property Size2,303 SF
Lot Size0.23 Acres
Price / SF$227.96
Days on Market41
Property Features for 901 34th Street
General Information
- Standard status
- Active
- Size
- 2,303 SF
- Lot size
- 0.23 Acres
- Property subtype
- General Commercial
Building Details
- Year Built
- 1988
Listing agency
ASU Commercial
(661) 862-5454
Listed by
Dylan Lym · License #02103385
Source
Xome
Added: Jun 11 Updated: Jul 21 at 2:04AM Checked: Jul 21 at 3:12AM
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 ASU Commercial
Investment Insights
Based on property information with market context.
901 34th Street is a fully leased, single-tenant medical office building located on a corner parcel. The property was extensively renovated in 2023 and includes a recent set of building and interior upgrades, such as a new roof, HVAC, water heater, flooring, lighting, ADA improvements, a security system, and remodeled interior finishes. The office provides 15 gated parking spaces.
The building is positioned at the corner of 34th Street and Panama Street in Downtown Bakersfield’s established healthcare corridor. It is located less than a quarter mile from Dignity Health Memorial Hospital and offers convenient access to Highways 99 and 178.
The lease is in place through May 31, 2031, with 2.5% annual rent increases, and includes one five-year renewal option under a modified gross structure that limits landlord responsibilities.
The building is positioned at the corner of 34th Street and Panama Street in Downtown Bakersfield’s established healthcare corridor. It is located less than a quarter mile from Dignity Health Memorial Hospital and offers convenient access to Highways 99 and 178.
The lease is in place through May 31, 2031, with 2.5% annual rent increases, and includes one five-year renewal option under a modified gross structure that limits landlord responsibilities.
Key Highlights
- Fully leased, single‑tenant medical office investment with stable cash flow through May 31, 2031
- 2,370 SF building on a 9,963 SF corner parcel at 34th St & Panama St in Downtown Bakersfield
- Extensively renovated in 2023 with new roof, HVAC, water heater, flooring, lighting, ADA upgrades, security system, and remodeled interior finishes
Local Financial Insights For Healthcare Medical
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 | $55.3k | $24.00 |
| − Vacancy | −$4.1k | −$1.80 |
| EGI | $51.1k | $22.20 |
| − OpEx | −$20.5k | −$8.88 |
| NOI | $30.7k | $13.32 |
2,303 SF · lease $24.00/SF/yr · vacancy 7.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$438.2K
$383.5K – $511.3K
NOI $30,676 @ 7.0% cap · market cap 5.84%
Second Best
Office B
$435.3K
$380.9K – $507.8K
NOI $30,469 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$611.2K
$534.8K – $713.0K
NOI $42,781 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
LH Massage Spa
Alternative Medicine Practice
Dr. Hung Luu ...
Physician
Hung (Henry) Luu
Physician
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FAQs
What type of property is this?
Medical Office Space - Fully leased single-tenant medical office on a gated corner parcel with 15 parking spaces and 2023 renovation improvements.
Where is this medical office space located?
The property is located at 901 34th Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Fully leased, single‑tenant medical office investment with stable cash flow through May 31, 2031; 2,370 SF building on a 9,963 SF corner parcel at 34th St & Panama St in Downtown Bakersfield; Extensively renovated in 2023 with new roof, HVAC, water heater, flooring, lighting, ADA upgrades, security system, and remodeled interior finishes
