Current Use by Public Records
- Specialty properties
Property Details for 0 Ming Ave
- Year built
- 1974
- Property type
- Specialty properties
- Property subtype
- Car washes
Description
This exceptional investment opportunity presents a well-established, 100% occupied self-serve car wash in Bakersfield, CA. Boasting 1,776 square feet of rentable space on a large 15,245 square foot lot, this single-story building, constructed in 1974 and renovated five years ago, offers five wash bays and vacuum stations. The property enjoys a prime location on Ming Avenue, with high visibility and proximity to major thoroughfares like Highway 99, and benefits from neighboring businesses such as McDonald's and Panda Express. Currently generating a strong NOI of $60,000 and a 5.11% cap rate, this car wash presents a compelling investment with significant upside potential. The property is zoned C-2 and features newer equipment, allowing for potential profit increases through operational enhancements. The asking price is $1,175,000, translating to $691.18 per square foot. This established business, operating 24/7 for over five decades, offers a rare chance to acquire a profitable and well-located asset in a thriving market. The property's APN is 16437014.
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
- -119.064
- Latitude
- 35.3371
