Description
1227 Chester Avenue is a unique opportunity for an owner-user or investor to acquire a prominent, two-story freestanding office building with frontage on Chester Avenue near the highly trafficked intersection of Chester Avenue and California Avenue in the heart of Downtown Bakersfield. The building is elevator served, ADA compliant, and was recently renovated in 2018 for a new tenant, Bristol Hospice. Their term expires in March of 2024 and the contract rent is below market lease rates yet still offers an investor more than a 7% return in year one on in-place income with potential for upside. A new owner may choose to negotiate an early termination or re-lease the property to a new tenant upon their expiration. Flexible C-C (Commercial Center) zoning allows for many commercial, office and multi-family uses, and the property enjoys easy access to all areas of Kern County via Highway 58, 99, 178, and the Westside Parkway.
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0BEDS
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0.27ACRES
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0BATHS
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01/2 BATHS
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9,330SQFT
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$187$/SQFT
School Ratings & Info
Description
1227 Chester Avenue is a unique opportunity for an owner-user or investor to acquire a prominent, two-story freestanding office building with frontage on Chester Avenue near the highly trafficked intersection of Chester Avenue and California Avenue in the heart of Downtown Bakersfield. The building is elevator served, ADA compliant, and was recently renovated in 2018 for a new tenant, Bristol Hospice. Their term expires in March of 2024 and the contract rent is below market lease rates yet still offers an investor more than a 7% return in year one on in-place income with potential for upside. A new owner may choose to negotiate an early termination or re-lease the property to a new tenant upon their expiration. Flexible C-C (Commercial Center) zoning allows for many commercial, office and multi-family uses, and the property enjoys easy access to all areas of Kern County via Highway 58, 99, 178, and the Westside Parkway.
Information deemed reliable, but not guaranteed. Copyright Golden Empire MLS, Inc. 2022. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by Asu Commercial or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Data last updated: 2022-08-19T17:31:44.877.