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530 Union Ave 12,565 SF 100% Leased Retail Building Bakersfield, CA 93307 $1,275,000 ($101.47/SF) 7.80% Cap Rate
EXECUTIVE SUMMARY
Seize a unique value-add opportunity at 520-530 Union Avenue, a mixed-use complex positioned for revitalization in a high-traffic area of Bakersfield. APX 31,000 average daily traffic count! With 7 residential (6 OCCUPIED) units (5723 SF) AND 6,842 SF of commercial space that is currently vacant, this multi-use property allows investors to immediately capitalize on Bakersfield's strong rental demand and expanding economy. Recent local government initiatives, include the Complete Streets Ordinance. With a projected $13,596/month, and actual 2024 expenses, the property earns a 7.8 % Cap Rate! Located within an ECONOMIC OPPORTUNITY ZONE. 510 Union Ave- VACANT C-2 zoned 6000 SF lot next door- INCLUDED as a package deal: Use as parking for lessees, or develop separately. SELLER will FINANCE entire property with 50% down.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$163,152
|
$12.98
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$8,157
|
$0.65
|
| Effective Gross Income |
$154,995
|
$12.34
|
| Taxes |
$14,346
|
$1.14
|
| Operating Expenses |
$41,231
|
$3.28
|
| Total Expenses |
$55,577
|
$4.42
|
| Net Operating Income |
$99,418
|
$7.91
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $163,152 |
| Annual Per SF | $12.98 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $8,157 |
| Annual Per SF | $0.65 |
| Effective Gross Income | |
|---|---|
| Annual | $154,995 |
| Annual Per SF | $12.34 |
| Taxes | |
|---|---|
| Annual | $14,346 |
| Annual Per SF | $1.14 |
| Operating Expenses | |
|---|---|
| Annual | $41,231 |
| Annual Per SF | $3.28 |
| Total Expenses | |
|---|---|
| Annual | $55,577 |
| Annual Per SF | $4.42 |
| Net Operating Income | |
|---|---|
| Annual | $99,418 |
| Annual Per SF | $7.91 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
12,565 SF
Building Class
C
Year Built/Renovated
1946/2018
Price
$1,275,000
Price Per SF
$101.47
Cap Rate
7.80%
NOI
$99,417
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.37
Lot Size
0.21 AC
Opportunity Zone
Yes
Zoning
C-2 - Commercial
Parking
20 Spaces (1.59 Spaces per 1,000 SF Leased)
Frontage
127’ on Union Ave
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 139-251-03-00-0 | Total Assessment | $417,872 |
| Land Assessment | $40,245 | Annual Taxes | $14,346 ($1.14/SF) |
| Improvements Assessment | $377,627 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
139-251-03-00-0
Land Assessment
$40,245
Improvements Assessment
$377,627
Total Assessment
$417,872
Annual Taxes
$14,346 ($1.14/SF)
Tax Year
2025
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