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241 S Union Ave

29,074 SF Industrial Building Bakersfield, CA 93307 £3,445,313 (£119/SF) 6.40% Net Initial Yield

Investment Highlights

  • Location, Location, Location
  • Convenient access to Hwy(s) 99 ,58 and I-5.
  • (3) High Quality buildings all on one site.
  • Bakersfield is now California’s Ninth Largest City, growing at 6% per year.
  • This Building fronts on Union Avenue in the heart of our main Business District.
  • Freeway accessibility for ease of Transport.

Executive Summary

Marcus & Millichap are pleased to present For Sale ( or Lease) this new to market Industrial Property with (3) Buildings on a single site. Located at 241 S. Union Ave., Bakersfield, CA 93307. The property includes (3) buildings approx. 30,000sf in total warehouse space. Comprised as follows; The main building built in 1966 out of (CIP) Cast in Place Concrete which is very sustainable. There is office and warehouse adjoining each other. The 2nd building is approx. 9,000sf CIP warehouse facility built in 1979. The 3rd building is approx. 10,000sf metal building built in 2009. The site consists of a 3.49-acre yard area with an external loading dock in the yard. The
site is accessible from Union Ave. and Terrace Way. There are multiple points of ingress/egress.
This is a must-have property!! It is at an on/off ramp of Highway 58 that is a major thoroughfare to east & westbound traffic to both coasts of the United States. This is a highly visible property from all directions. One buyer can use ALL the buildings and site OR fractionally lease buildings and site yard parking, etc. This is a great investment opportunity with rare availability. Don’t miss this opportunity!!
This property can be purchased or leased. It is available now for sale or lease. Regarding a sale, the Owner may be receptive to buyer needing financial help with an Owner Carry Finance option. The buyer would have to exhibit financial strength with a significant down payment. Rarely does an opportunity such as this come to the market, when it does, the opportunity is sold quickly.

Property Facts

Price £3,445,313
Price Per SF £119
Sale Type Investment or Owner User
Net Initial Yield 6.40%
Property Type Industrial
Property Subtype
Warehouse
  • Industrial Distribution
  • Industrial Manufacturing
  • Industrial Truck Terminal
Building Class C
Lot Size 3.49 AC
Rentable Building Area 29,074 SF
Number of Floors 1
Year Built/Renovated 1966/1997
Tenancy Single
Clear Ceiling Height 21 ft
No. Dock-High Doors/Loading 1
Level Access Doors 5
Opportunity Zone Yes

Amenities

  • Fenced Lot
  • Reception
  • Storage Space
  • Monument Signage

Utilities

  • Lighting
  • Gas
  • Water
  • Sewer
  • Heating

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 011-030-14-00-0
  • 011-030-13-00-7
  • 011-030-12-00-4
  • 011-030-11-00-1
Land Assessment
£90,103
Improvements Assessment
£634,444
Total Assessment
£724,547

zoning

Zoning Code C-2 (Commercial Retail by Grant. However, trucking is used in the old business model with Industrial applications.)
C-2 (Commercial Retail by Grant. However, trucking is used in the old business model with Industrial applications.)
  • Listing ID: 33998162

  • Date on Market: 25/11/2024

  • Last Updated:

  • Address: 241 S Union Ave, Bakersfield, CA 93307

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