Single-Tenant Leased Investment Opportunity 901 34th St 2,370 SF Office Building Bakersfield, CA 93301 $742,324 CAD ($313.22 CAD/SF) 7.10% Cap Rate

ASU Commercial is pleased to present 901 34th Street, a fully leased single-tenant medical office investment located in the established healthcare corridor of Downtown Bakersfield. The ±2,370 square foot building sits on a ±9,963 square foot corner parcel and underwent a comprehensive interior and exterior renovation in 2023, resulting in a highly functional, modern asset requiring limited near-term capital expenditures.
The property is leased to an established regional operator with more than ten California locations, providing investors with stable cash flow through May 31, 2031. The lease features 2.5% annual rental increases, one five-year renewal option, and a modified gross structure designed to minimize ownership responsibilities while providing predictable income growth.
Recent capital improvements include a new roof, HVAC equipment, water heater, flooring, doors, lighting, ADA-compliant parking improvements, security system, and fully remodeled interior finishes. The building offers 15 gated parking spaces, providing an attractive 6.3 spaces per 1,000 square feet.
Strategically positioned at the corner of 34th Street and Panama Street, the property is located less than a quarter mile from Dignity Health Memorial Hospital, the largest regional medical center in the southern San Joaquin Valley with 385 acute care beds. Immediate access to Highway 99 and Highway 178 provides convenient connectivity throughout Bakersfield and Kern County.
With long-term tenancy, annual rental escalations, limited management requirements, and future upside through below-market in-place rents, 901 34th Street represents an attractive opportunity for private investors seeking a stable, passive medical office investment in a growing healthcare market.