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215 China Grade Loop 4,388 SF 100% Leased Office Building Bakersfield, CA 93308 $825,000 ($188.01/SF) 6.83% Cap Rate
Executive Summary
Investors looking for a hands-off medical office should take a close look at this fully leased building on China Grade Loop in Bakersfield. Fully leased, two tenants, with five year lease contracts.
The building offers 4,388 square feet on an 8,712 square foot lot. The current owner has already made key upgrades, including some new windows, replaced several HVAC units, along with fresh flooring and paint in Suite B. These upgrades should reduce near-term maintenance costs for the next owner.
Tenants West Coast Eye Institute and Pinales Dental DDS both signed 5-year leases with 3% annual rent increases built in. One lease is NNN and the other is Modified Gross, giving the owner a blended expense structure. The seller may also consider owner financing for a qualified buyer.
The property is located in North Bakersfield near China Grade Loop, close to Starbucks, Dollar General, Autozone, and Chase Bank. The trade area supports a population of over 63,000 within 3 miles and more than 168,000 within 5 miles, giving both medical tenants a strong base of nearby patients
The building offers 4,388 square feet on an 8,712 square foot lot. The current owner has already made key upgrades, including some new windows, replaced several HVAC units, along with fresh flooring and paint in Suite B. These upgrades should reduce near-term maintenance costs for the next owner.
Tenants West Coast Eye Institute and Pinales Dental DDS both signed 5-year leases with 3% annual rent increases built in. One lease is NNN and the other is Modified Gross, giving the owner a blended expense structure. The seller may also consider owner financing for a qualified buyer.
The property is located in North Bakersfield near China Grade Loop, close to Starbucks, Dollar General, Autozone, and Chase Bank. The trade area supports a population of over 63,000 within 3 miles and more than 168,000 within 5 miles, giving both medical tenants a strong base of nearby patients
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Medical
Building Size
4,388 SF
Building Class
C
Year Built/Renovated
1984/2024
Price
$825,000
Price Per SF
$188.01
Cap Rate
6.83%
NOI
$56,325
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,194 SF
Building FAR
0.50
Lot Size
0.20 AC
Zoning
C-2
Parking
13 Spaces (2.96 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Pinales Dental INc
- Health Care and Social Assistance
- 1,446 SF
- $15.45
- Triple Net
- Mar 2030
- West Coast Eye Institute
- Health Care and Social Assistance
- 2,942 SF
- $16.80
- Modified Gross
- Mar 2030
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Pinales Dental INc | Health Care and Social Assistance | 1,446 SF | $15.45 | Triple Net | Mar 2030 | |
| West Coast Eye Institute | Health Care and Social Assistance | 2,942 SF | $16.80 | Modified Gross | Mar 2030 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 118-053-25-00-7 | Improvements Assessment | $373,438 |
| Land Assessment | $59,533 | Total Assessment | $432,971 |
Property Taxes
Parcel Number
118-053-25-00-7
Land Assessment
$59,533
Improvements Assessment
$373,438
Total Assessment
$432,971
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215 China Grade Loop
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