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Single-Tenant Office

3821 Mount Vernon Ave

3821 Mount Vernon Ave, Bakersfield, CA 93306

Listing Price: $350,000

Cap Rate
7.21%
Gross SF
1,368
Rentable SF
1,368
Price/Gross SF
$255.85
Lot Size
0.11 acres
Year Built
1964

Investment Overview

Marcus and Millichap are pleased to present this single-tenant office building. The subject property was built in 1964 with renovations done since 2013. The property is situated on a 4,791 sf lot with approx. 6 parking spaces are located on the rear side of the building.

The current tenant has been operating the Mt. Vernon Massage parlor at this location for over 10 years. The current tenant has just signed a 3-year Gross Lease in April of 2023. The tenant pays for maintenance, water, and electricity.

Located across the street from Bakersfield College, this property is in a prime location for an investor to own a strong reliable investment asset. Rarely does an opportunity with a Cap Rate this high come on the market, when it does, investment property is sold quickly. Great opportunity for first-time investors.

Investment Highlights

  • Location, Location, Location
  • Located Across the Street from Bakersfield College
  • New 3-Year Lease Signed With Current Long-term Tenant

Exclusively Listed By

Financing By

Single-Tenant Office

3821 Mount Vernon Ave

Listing Price: $350,000

Cap Rate
7.21%
Gross SF
1,368
Rentable SF
1,368
Price/Gross SF
$255.85
Lot Size
0.11 acres
Year Built
1964

Investment Highlights

  • Location, Location, Location
  • Located Across the Street from Bakersfield College
  • New 3-Year Lease Signed With Current Long-term Tenant

Investment Overview

Marcus and Millichap are pleased to present this single-tenant office building. The subject property was built in 1964 with renovations done since 2013. The property is situated on a 4,791 sf lot with approx. 6 parking spaces are located on the rear side of the building. The current tenant has been operating the Mt. Vernon Massage parlor at this location for over 10 years. The current tenant has just signed a 3-year Gross Lease in April of 2023. The tenant pays for maintenance, water, and electricity. Located across the street from Bakersfield College, this property is in a prime location for an investor to own a strong reliable investment asset. Rarely does an opportunity with a Cap Rate this high come on the market, when it does, investment property is sold quickly. Great opportunity for first-time investors.

Exclusively Listed By

Financing By

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