2509 Mount Vernon Ave Bakersfield, CA 93306
- Retail space
- 16,520 SF
- 2.31 lot acres
Current Use by 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
Property Details for 2509 Mount Vernon Ave
- Year built
- 2008
- Construction
- WOOD
- Lot size
- 2.31 lot acres
- Property size
- 16,520 SF
- Zone code
- C-2
- Property type
- Retail space
- APN
- 129-010-80-00-3
- APU
- 12901080003
Description
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.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $4,520,000
- 6.5%
- $4,175,000
- 7%
- $3,875,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,683,000
- AI Estimate
- $2,582,000
Market price range: $1.37M - $3.68MMarket price range: $605k - $2.58M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $2,485,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $5,700,000 Change: +130% Conversion: Moderate
- MEDICAL BUILDING
- $3,775,000 Change: +52% Conversion: Difficult
- OFFICE BUILDING
- $3,490,000 Change: +40% Conversion: Easy
- AUTO REPAIR, GARAGE
- $2,630,000 Change: +6% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $2,385,000 Change: -4% Conversion: Difficult
- INDUSTRIAL (GENERAL)
- $2,230,000 Change: -10% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Bakersfield
- County
- Kern
- State
- California
- Longitude
- -118.966
- Latitude
- 35.3909
- CBSA code
- 12540
- CBSA name
- BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA
