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Property profile & analytics
FOR LEASE
Retail space

2509 Mount Vernon Ave Bakersfield, CA 93306

16,520 SF 2.31 ac lot Built 2008
Entity Owned 12-yr Hold Free & Clear
Property ID
US09-1159061
Property summary
AI-generated overview

This exceptional retail opportunity is located in Northeast Bakersfield at the highly visible northeast corner of Mt. Vernon Avenue and Bernard Street. The property boasts newer construction with attractive architecture, ensuring strong curb appeal and attracting significant customer attention. With a total of 4,560 square feet, the center is comprised of three suites, offering flexibility for various retail businesses. One suite, measuring 1,080 square feet, is currently available. The property benefits from excellent access to Highway 178, providing convenient access for customers and employees. Daily traffic counts on Mt. Vernon Avenue and Bernard Street reach 37,500 vehicles, guaranteeing high visibility and substantial foot traffic. The limited availability of retail space in this thriving trade area makes this an exceptional investment opportunity. Strong co-tenancy is provided by established businesses such as Rite Aid, Bank of the Sierra, and Proximity Urgent Care. Furthermore, the property enjoys proximity to major retailers including Home Depot, Walmart, Target, Big 5, and Office Max. The upcoming City Lights at East Hills redevelopment of the former East Hills Mall will further enhance the area's appeal and draw even more customers to the center. This prime location offers a unique chance to establish a successful retail presence in a rapidly growing area of Bakersfield. The property is situated in Kern County.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 2008
Construction WOOD
Total area 16,520 SF
Lot 2.31 ac (100,623 SF)
Zoning code C-2
APN 129-010-80-00-3
UPID US09-1159061
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Michael Garza: Allstate Insurance Insurance Agency
  • Victor's Mexican Grill Restaurant
  • WIC store Shopping Center & Mall
  • Piara Pizza Take-out & Catering
  • Priority Urgent Care Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$4.18M
Comparable Approach Comparable
$3.68M
Blend (final) Blend
$3.48M
Owner & transaction history
Vernon Bernard LP Mt · 12 yrs held
Vernon Bernard LP Mt
since 2014
6 recorded transactions
2017
Price N/A
2014
$1.5M
2013
$1.0M
2013
$3,303
1969
Price N/A
1969
Price N/A
Zoning & alternative use
C-2 · Bakersfield, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

The purpose of C-2 zone is to permit development of concentrated large-scale retail operations providing a broad range of goods and services which serve the metropolitan market area

Zone name Commercial
General category COMMERCIAL
Zone area 2,747.80 ac
Source Realmo
Top alternative use upside
Neighborhood: shopping center $5.7M +129.5%
Medical building $3.8M +52.1%
Office building $3.5M +40.5%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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