6950 District Blvd Bakersfield, CA 93313-2012

Property Details for 6950 District Blvd

Year built

1986

Construction

WOOD

Lot size

0.82 lot acres

Property size

10,000 SF

Zone code

M2

Property type

Showrooms

APN

385-412-15-00-3

APU

38541215003

Description

This exceptional 10,000 square foot industrial property, located at 6950 District Boulevard in Bakersfield, California, presents a compelling investment opportunity. The property consists of two buildings situated on a 0.82-acre lot, boasting 18' to 20' ceiling heights and zoned M-2 by the City of Bakersfield. Currently operating at 100% occupancy with three tenants, the property generates a strong NOI of $165,000, representing a 6.35% cap rate. A pro-forma analysis projects a NOI of $185,000 and a 7.12% cap rate. The property's diverse tenant mix includes an existing owner-user occupying 2,500 square feet of front office space and a medical tenant leasing 1,500 square feet. A significant portion of the space, approximately 60% (4,000 square feet), is available for an owner-user, offering flexibility and potential for expansion. Favorable lease terms with the existing tenants provide an opportunity to recapture the entire site. The asking price is $2,599,000, translating to $259.90 per square foot. The property's strong cash flow, flexible space, and prime location in Bakersfield make it an attractive investment for owner-users and investors alike. The property's APN is 385-412-15. This is a gross lease property.

Location Insight

City

Bakersfield

County

Kern

State

California

Longitude

-119.08

Latitude

35.3136

CBSA code

12540

CBSA name

BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments