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530 Union Ave 12,565 SF 100% Leased Retail Building Bakersfield, CA 93307 $1,742,989 CAD ($138.72 CAD/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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$223,037
|
$17.75
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$11,151
|
$0.89
|
| Effective Gross Income |
$211,886
|
$16.86
|
| Taxes |
$19,612
|
$1.56
|
| Operating Expenses |
$56,365
|
$4.49
|
| Total Expenses |
$75,977
|
$6.05
|
| Net Operating Income |
$135,909
|
$10.82
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $223,037 |
| Annual Per SF | $17.75 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $11,151 |
| Annual Per SF | $0.89 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $211,886 |
| Annual Per SF | $16.86 |
| Taxes (CAD) | |
|---|---|
| Annual | $19,612 |
| Annual Per SF | $1.56 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $56,365 |
| Annual Per SF | $4.49 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $75,977 |
| Annual Per SF | $6.05 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $135,909 |
| Annual Per SF | $10.82 |
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
$1,742,989 CAD
Price Per SF
$138.72 CAD
Cap Rate
7.80%
NOI
$135,908 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
Nearby Major Retailers
Property Taxes
| Parcel Number | 139-251-03-00-0 | Total Assessment | $571,252 CAD |
| Land Assessment | $55,017 CAD | Annual Taxes | $19,612 CAD ($1.56 CAD/SF) |
| Improvements Assessment | $516,235 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
139-251-03-00-0
Land Assessment
$55,017 CAD
Improvements Assessment
$516,235 CAD
Total Assessment
$571,252 CAD
Annual Taxes
$19,612 CAD ($1.56 CAD/SF)
Tax Year
2025
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