200 New Stine Rd - Office FOR SALE


Bakersfield, CA 93309
$4,850,000 USD
661-616-3570
200 New Stine Rd, Bakersfield, CA for Sale
$4,850,000 USD
Office - FOR SALE
1/15
null | Request Cap Rate

200 New Stine Rd
Bakersfield, CA 93309


HIGHLIGHTS

  • Value Add Multi-Tenant office investment or partial Owner-user opportunity
  • Irreplaceable location near one of the most heavily trafficked intersections in all of Bakersfield – California Ave/New Stine Road and Stockdale Hwy.
  • 61.73% Occupied - recent leasing has increased occupancy 12.59%
  • Conservative existing rents allow for substantial rent growth.
  • Interior common area remodel recently completed, which includes installation of LED lighting upgrades in the common area and the occupied suites
  • Located in the geographic center of Bakersfield in the largest office submarket with more than 3.2 million square feet of rentable office space.

OVERVIEW

ASU Commercial is pleased to present for sale 200 New Stine Road, located within one of Bakersfield’s most vibrant and active commercial office areas, the California Avenue Corridor. 200 New Stine Road is a two story, multi-tenant office building, constructed in 1975 which has undergone consistent upgrading and remodeling throughout the years. Current ownership has owned and operated the property for more than 25 years. A unique value add opportunity is created by an increase in current vacancy due to a large nearly half building occupant relocating and downsizing to an alternative submarket. This creates the potential for repositioning of the vacancy to capitalize on the increasing rental rate environment of Bakersfield’s office market. RECENT LEASING HAS INCREASED OCCUPANCY 12.59%

FOR SALE DETAILS

PRICE

$4,850,000 USD

PRICE/SF

$90 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

115

LAND DETAILS

LAND ACRES

1.71 AC

LAND SF

74,488 SF

ZONING

C-O

APN/PARCEL ID

194-450-15-00,194-450-16-00-0,194-450-24-00-0

ASK ABOUT THIS PROPERTY

Matthew Starr, SIOR, CCIMASU CommercialMore Info
661-616-3570

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Matthew Starr, SIOR, CCIMASU CommercialMore Info
661-616-3570

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.