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    523 Center St Taft, CA 93268

    For Sale
    $725,000

    13,500 SF Auto Shop, Vacant, High NOI

    Property size:
    13,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This ±13,500 square foot commercial building in Taft, CA, presents a compelling value-add investment opportunity. Currently vacant, the property boasts a strong history as a former Chrysler dealership and includes ±12,000 square feet of automotive space and ±1,500 square feet of retail space. The automotive area, previously occupied for over a decade by a business generating over $1 million in annual sales, is in turnkey condition. The existing retail space is separately leased for $1,600 per month. The building features a newly installed roof and coolers (January 2024) and sits on a ±0.99-acre lot at a high-visibility corner location on Center Street and 6th Street, offering ample street parking and on-site stalls. The property is zoned DC - Downtown Commercial and offers significant potential for various uses. The asking price is $725,000, representing a price per square foot of $53.70 and a 13.07% cap rate, with a net operating income (NOI) of $94,748. The property's location is convenient, situated between CA-33 and CA-119, serving a population of approximately 20,480 residents within a 10-mile radius. Adjacent properties are also available for potential acquisition. This is a rare chance to acquire a well-maintained, high-profile commercial building with a proven track record in a desirable location. The property's size, location, and recent improvements make it an attractive investment for a variety of buyers.

    Property Features for 523 Center St

    General Information

    Property type
    Individual retail properties
    Square Feet
    13,500 SF
    Lot Size
    43,124 SF

    Building Details

    Stories
    1

    HighLights

    • Turnkey automotive building; former Chrysler dealership.
    • ±112,000 SF automotive space, ±1,500 SF retail space.
    • Prior annual sales exceeding $1M.
    • ±1,500 SF retail space currently leased at $1,600/month.
    • New roof and coolers installed in 2024.
    • High‑visibility corner lot on Center & 6th Streets with ample parking.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Iglesia de Dios ... Pentecostal Church

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Taft
    County
    Kern
    State
    California
    Longitude
    -119.45998348197
    Latitude
    35.141290215676

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      Turn-key Automotive Building For Sale

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    • $999,000
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    FAQs

    What type of property is this?
    Individual retail property - 13,500 SF Auto Shop, Vacant, High NOI
    Where is this individual retail property located?
    The property is located at 523 Center St Taft, CA.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: Turnkey automotive building; former Chrysler dealership.; ±112,000 SF automotive space, ±1,500 SF retail space.; Prior annual sales exceeding $1M.
    Request Owner's contact information
    523 Center St Taft, CA 93268
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    Taft, CA 93268
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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
    523 Center St Taft, CA 93268
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