500 - 544 Butte Street St 15,895 SF 57% Leased Industrial Building Bakersfield, CA 93305 $2,150,000 ($135.26/SF) 5.85% Cap Rate

ASU Commercial is pleased to offer to the market 500 – 544 Butte Street, which is a two-building industrial multi-tenant flex/office/warehouse complex located between Old Town and Downtown Bakersfield. There are seven (7) other structures on the site which altogether total 15,895 square feet of building improvements, 6,040 square feet of canopy improvements and 2,275 square feet of covered carport improvements. The first building is identified as 500 – 528 Butte Street, which includes 7,680 square feet of space including 4,616 square feet of office improvements. This multi-tenant building is demised into eight (8) individual suites and is currently fully occupied with five (5) tenants. All Tenants have been in the building since the Seller acquired the property in 2018.
The second building is identified as 532 – 544 Butte Street, which includes 6,840 square feet of space including 1,564 square feet of office improvements. This multi-tenant building is demised into four (4) individual suites and will be delivered vacant as this building was previously occupied by the Seller. The Buyer can choose to occupy this building for their own use or lease the individual suites to increase their monthly cash flow. All evaporative coolers in this building have been replaced with new since the Seller acquired the property.
The property is zoned M-1 (Light Industrial) & M-2 (Medium Industrial) per City of Bakersfield and totals 2.94 acres in size. The yard is completely paved with asphalt and
has rolling gate entrances with two (2) points of ingress/egress to property. To ensure security and safety the perimeter of the property has six-foot-tall chain link fence
with privacy screening along with perimeter and interior yard lighting. The property is adjacent to Kern County Human Services office along with the currently under construction new residential facility for Open Door Network.