1629 California Ave Bakersfield, CA 93304-1303

Property Details for 1629 California Ave

Construction

WOOD FRAME

Lot size

0.10 lot acres

Zone code

C-1

Property type

Commercial land

APN

009-011-02-00-9

APU

901102009

Description

This exceptional investment opportunity presents a fee-simple 7-Eleven convenience store and gas station located at 1629 California Ave, Bakersfield, CA 93304. The property boasts a 4,750 square foot building on a 1.07-acre lot, constructed in 2024. Benefitting from a prime location in a high-traffic area with 50,500 cars passing daily and direct freeway access, this property enjoys excellent visibility and accessibility. The property features 12 parking spaces and is zoned C-1 - Neighborhood Commercial. The absolute NNN lease with a corporate guarantee from 7-Eleven provides zero landlord responsibilities. The 15-year lease, commencing January 15, 2025, and expiring January 1, 2040, includes four 5-year renewal options with 10% rent increases every five years. The current net operating income (NOI) is $237,000, resulting in a compelling 4.85% cap rate. This property offers a secure, long-term investment with significant upside potential in a thriving Bakersfield market, known for its diverse economy encompassing oil, natural gas, renewable energy, and agriculture. The property's APN is 009-011-12-00-8. The asking price is $4,886,000. This is a rare opportunity to acquire a brand-new, high-performing 7-Eleven in a desirable location.