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5055 California Avenue 5055 California Ave 26,866 SF 95% Leased Office Building Bakersfield, CA 93309 $4,495,000 ($167.31/SF) 7.36% Cap Rate
INVESTMENT HIGHLIGHTS
- Fully occupied office building located on California Avenue and Mohawk Street
- Stable, long-term occupancy from the major tenant, Kaiser Permanente (58.26% of occupancy)
- Attractive interior atrium area which allows for direct suite entry, minimal enclosed common areas and efficient load.
- Located in the geographic center of Bakersfield in the largest office submarket with more than 3.2 million square feet of rentable office space.
EXECUTIVE SUMMARY
Three-story multi-tenant office building with high visibility located on the major intersection of California Avenue and Mohawk Street. Situated in the heart of the California Avenue Corridor and the Southwest Office Submarket, this property is in proximity to access to both Highway 99, the major north/south highway in the central valley and due south of the Westside Parkway, Highway 58. Easy access to numerous restaurants, banks, shopping and other services.
Kaiser Permanente houses their local administrative office on site and has been the major tenant at the buiding with historical occupancy for over 25 years. The building is 100% occupied by Kaiser Permanente and a mix of professional office users that have limited in-office traffic. Direct access to each suite as there is no common lobby which provides for an efficient building. The ground floor atrium design allows for natural light at both the front and rear of each suite on all floors.
The building had a facelift in 2019 that provided for new exterior paint, re-designed flowerbed landscaping both inside the atrium and around the exterior portions of the building, and installation of tasteful glass security doors at all ground floor access points that limits unwanted visitors during after business hours. The finishes in common area restrooms on each floor were also completed in 2019. The single elevator in the building core was modernized by the owner in 2021. HVAC units are well maintained as non of the units are original and four of the eleven units have been recently replaced or are scheduled for replacement and the owner's cost.
Kaiser Permanente houses their local administrative office on site and has been the major tenant at the buiding with historical occupancy for over 25 years. The building is 100% occupied by Kaiser Permanente and a mix of professional office users that have limited in-office traffic. Direct access to each suite as there is no common lobby which provides for an efficient building. The ground floor atrium design allows for natural light at both the front and rear of each suite on all floors.
The building had a facelift in 2019 that provided for new exterior paint, re-designed flowerbed landscaping both inside the atrium and around the exterior portions of the building, and installation of tasteful glass security doors at all ground floor access points that limits unwanted visitors during after business hours. The finishes in common area restrooms on each floor were also completed in 2019. The single elevator in the building core was modernized by the owner in 2021. HVAC units are well maintained as non of the units are original and four of the eleven units have been recently replaced or are scheduled for replacement and the owner's cost.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
26,866 SF
Building Class
B
Year Built
1982
Price
$4,495,000
Price Per SF
$167.31
Cap Rate
7.36%
NOI
$330,994
Percent Leased
95%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
8,955 SF
Building FAR
0.31
Lot Size
1.99 AC
Zoning
CO - Commercial Office
Parking
120 Spaces (4.47 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Courtyard
- Signage
- Balcony
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
- 3rd Fl-Ste 350
- 1,326 SF
- Office
- Full Build-Out
- Now
| Space | Size | Space Use | Condition | Available |
| 3rd Fl-Ste 350 | 1,326 SF | Office | Full Build-Out | Now |
3rd Fl-Ste 350
| Size |
| 1,326 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
1 1
Walk Score®
Very Walkable (70)
PROPERTY TAXES
| Parcel Number | 331-430-04-00-0 | Total Assessment | $3,693,866 |
| Land Assessment | $1,570,936 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,122,930 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
331-430-04-00-0
Land Assessment
$1,570,936
Improvements Assessment
$2,122,930
Total Assessment
$3,693,866
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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5055 California Avenue | 5055 California Ave
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