4040 California Ave Bakersfield, CA 93309-1012

Property Details for 4040 California Ave

Year built

1971

Construction

WOOD

Lot size

0.69 lot acres

Property size

4,680 SF

Zone code

C2

Property type

Medical offices

Property subtype

Medical centers

APN

332-322-12-00-2

APU

33232212002

Description

Exceptional investment opportunity: a 6,039 square foot Class B medical office building in Bakersfield, CA, currently occupied by Accelerated Urgent Care under an absolute NNN lease with 11 years remaining. The property boasts a 7.23% cap rate and a strong NOI of $354,125. Built in 2020, this state-of-the-art facility features 51 parking spaces on a 35,583 square foot lot. The lease includes a corporate/personal guarantee, providing significant security for investors. Rent increases annually at 3%, offering inflation protection. Accelerated Urgent Care, a prominent provider specializing in Medi-Cal patients, operates seven locations in Bakersfield alone and sixteen throughout California. Their focus on rapid patient care (within 15 minutes) contributes to their success in Kern County, where Medi-Cal covers over 38% of the population. This fee-simple property presents a passive investment opportunity with minimal management responsibilities. Located at a high-traffic, signalized intersection, this property offers excellent visibility and accessibility. The building underwent a complete retrofit in 2020, ensuring modern amenities and functionality. This is a rare chance to acquire a stable, high-performing medical office asset with significant long-term growth potential.

Location Insight

City

Bakersfield

County

Kern

State

California

Longitude

-119.047

Latitude

35.3679

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments