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530 Union Ave 12,565 SF 100% Leased Retail Building Bakersfield, CA 93307 $1,779,798 CAD ($141.65 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 |
$227,747
|
$18.13
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$11,387
|
$0.91
|
| Effective Gross Income |
$216,361
|
$17.22
|
| Taxes |
$20,026
|
$1.59
|
| Operating Expenses |
$57,555
|
$4.58
|
| Total Expenses |
$77,581
|
$6.17
|
| Net Operating Income |
$138,780
|
$11.04
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $227,747 |
| Annual Per SF | $18.13 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $11,387 |
| Annual Per SF | $0.91 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $216,361 |
| Annual Per SF | $17.22 |
| Taxes (CAD) | |
|---|---|
| Annual | $20,026 |
| Annual Per SF | $1.59 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $57,555 |
| Annual Per SF | $4.58 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $77,581 |
| Annual Per SF | $6.17 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $138,780 |
| Annual Per SF | $11.04 |
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
$1,779,798 CAD
Price Per SF
$141.65 CAD
Cap Rate
7.80%
NOI
$138,778 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 | $586,099 CAD |
| Land Assessment | $56,447 CAD | Annual Taxes | $20,026 CAD ($1.59 CAD/SF) |
| Improvements Assessment | $529,652 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
139-251-03-00-0
Land Assessment
$56,447 CAD
Improvements Assessment
$529,652 CAD
Total Assessment
$586,099 CAD
Annual Taxes
$20,026 CAD ($1.59 CAD/SF)
Tax Year
2025
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