2000 Union AveBakersfield, CA 93305

Property Details for 2000 Union Ave

Year built

1945

Construction

WOOD

Lot size

0.25 AC

Property size (Sq ft)

2,415 SF

Zone code

M-1

Property type

Retail properties

Property subtype

Auto shops

APN

016-140-15-00-0

APU

1614015000

Description

This freestanding, 2,415 sq ft auto shop in Bakersfield, CA, presents a unique investment opportunity. Located on a busy Union Avenue corner lot (0.25 acres) with high daily traffic (+33,000 CPD), this single-story, Class C building boasts six auto bays, four automotive lifts, a smog dyno, and five functional roll-up doors. The 10-11' clearance height provides ample space for various automotive services. Additional features include an office, storage room, and a fenced private rear yard with an outside air compressor and small canopy. The property benefits from central HVAC (office) and gas heaters (shop). Four points of ingress/egress enhance accessibility. A significant advantage is the existing billboard lease with Lamar (NASDAQ: LAMR), generating $1,800 annual rent plus performance-based bonuses, with 10 years remaining on a 20-year lease. The M1 zoning allows for flexibility, potentially accommodating a drive-thru food service or retail conversion. This turnkey operation is fully fixturized and includes specialized improvements. The property's prime location near the 178 Highway, Downtown Bakersfield, and Highways 99 and 58 makes it highly attractive. The asking price is $650,000, with a price per square foot of $269.15. APN: 016-140-15-00-0. Fee simple ownership.

• CAP approach

  CAP return

  Valuation

  6%

  $1,011,951

  6.5%

  $934,108

  7%

  $867,386

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,157,276

  Geo Method

  $1,157,276

• Alternative Use

  Use

  Valuation

  Residential

  $787,955

  Hospitality

  $721,763

  Educational

  $600,498

  Medical

  $621,150

  Retail

  $934,108

Location Insight

City

Bakersfield

County

Kern

State

California

Latitude

35.3772

Longitude

-119.003

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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