Current Use by Public Records
- Specialty properties
Property Details for 1001 Stine Rd
- Year built
- 2001
- Lot size
- 2.14 lot acres
- Property type
- Specialty properties
- Property subtype
- Office Spaces
Description
This exceptional investment opportunity presents a fully occupied, 15,984 square foot medical and office complex in Bakersfield, CA. The property consists of three buildings on a 2.14-acre lot, featuring 11 tenants with a diverse mix of businesses, including medical offices (dentist, audiologist), a church, and general office spaces. Built in 2001 and renovated the same year, the property boasts 100% occupancy with a current NOI of $194,655 and a pro-forma NOI of $235,000, resulting in a 6.71% cap rate and a pro-forma cap rate of 8.10%. Leases are gross, with franchisee tenants and rent bumps in place. The property features 50 parking spaces, gated access, and is zoned C-O/R3, offering significant potential for future development on approximately 1 acre of land zoned R3. The asking price is $2,900,000, translating to $181.43 per square foot. Leases commenced January 1, 2010, and expire December 31, 2027. This prime location on Stine Road in Bakersfield offers high visibility and accessibility, making it an attractive investment with strong potential for future growth and appreciation. The property's diverse tenant base and stable income stream provide a secure and reliable return on investment.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bakersfield
- County
- Kern
- State
- California
- Longitude
- -119.049
- Latitude
- 35.3453
