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518-530 Union Ave 12,565 SF 100% Leased Retail Building Bakersfield, CA 93307 $1,248,237 CAD ($99.34 CAD/SF) 10.91% Cap Rate
Investment Highlights
- 10.9% pro forma cap rate at the $900,000 asking price
- Located in a federally designated Economic Opportunity Zone
- Value-add upside — 3 commercial spaces (6,842 SF) currently vacant and ready to lease
- Seller financing available — 50% down, seller carries the balance
- High-traffic corridor — approximately 31,000 vehicles per day
- Adjacent 6,000 SF C-2 lot available concurrently (510 Union Ave, $99,000) — combined opportunity at $999,000
Executive Summary
To be sold concurrently with the adjacent vacant lot at 510 Union Ave, listed separately for $99,000 (APN 139-251-02). Combined opportunity available for $999,000.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$226,280
|
$18.01
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$11,315
|
$0.90
|
| Effective Gross Income |
$214,966
|
$17.11
|
| Taxes |
$17,467
|
$1.39
|
| Operating Expenses |
$61,345
|
$4.88
|
| Total Expenses |
$78,812
|
$6.27
|
| Net Operating Income |
$136,154
|
$10.84
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $226,280 |
| Annual Per SF | $18.01 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $11,315 |
| Annual Per SF | $0.90 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $214,966 |
| Annual Per SF | $17.11 |
| Taxes (CAD) | |
|---|---|
| Annual | $17,467 |
| Annual Per SF | $1.39 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $61,345 |
| Annual Per SF | $4.88 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $78,812 |
| Annual Per SF | $6.27 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $136,154 |
| Annual Per SF | $10.84 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
12,565 SF
Building Class
C
Year Built/Renovated
1946/2018
Price
$1,248,237 CAD
Price Per SF
$99.34 CAD
Cap Rate
10.91%
NOI
$136,154 CAD
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
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 139-251-03-00-0 | Total Assessment | $591,187 CAD |
| Land Assessment | $56,936 CAD | Annual Taxes | $17,467 CAD ($1.39 CAD/SF) |
| Improvements Assessment | $534,251 CAD | Tax Year | 2026 |
Property Taxes
Parcel Number
139-251-03-00-0
Land Assessment
$56,936 CAD
Improvements Assessment
$534,251 CAD
Total Assessment
$591,187 CAD
Annual Taxes
$17,467 CAD ($1.39 CAD/SF)
Tax Year
2026
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518-530 Union Ave
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