5500 Ming AveBakersfield, CA 93309

Property Details for 5500 Ming Ave

Year built

1982

Construction

WOOD

Lot size

4.80 AC

Property size (Sq ft)

61,522 SF

Zone code

PCD

Property type

Office properties

Property subtype

Office buildings

APN

355-440-06-00-3

APU

35544006003

Description

This exceptional Bakersfield office park, situated at 5500 Ming Ave (Ming Avenue and New Stine Road), offers 120,988 square feet of renovated office space across two, two-story buildings. Built in 1982 and extensively renovated in 2023, the property boasts a desirable campus-like setting with beautiful landscaping and water features. Seven suites are available, ranging from 449 to 6,107 contiguous square feet, making it ideal for businesses of various sizes. The property features 520 parking spaces, including some covered options, and elevators for convenient access. Recent upgrades include repainted exteriors, renovated common areas, new roofs, a resurfaced parking lot, and updated monument signage. The property benefits from on-site management, 24-hour video surveillance, and ample natural light in many suites. Its zoning is PCD (Planned Commercial Development), City of Bakersfield, and the APN is 355-440-05 & 06. The property's location provides convenient access to Highways 99 and 58, and caters to various office needs, including some hybrid medical office configurations. The 9.66-acre lot offers a serene environment for your business. Currently, 14,634 square feet of space is vacant.

• CAP approach

  CAP return

  Valuation

  6%

  $17,544,614

  6.5%

  $16,195,029

  7%

  $15,038,241

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,699,024

  Geo Method

  $11,699,024

• Alternative Use

  Use

  Valuation

  Residential

  $20,081,836

  Hospitality

  $18,394,854

  Educational

  $15,304,302

  Medical

  $15,830,641

  Retail

  $23,806,692

Location Insight

City

Bakersfield

County

Kern

State

California

Latitude

35.338

Longitude

-119.064

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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