901 34th St - Medical FOR SALE


Bakersfield, CA 93301- Downtown Bakersfield
$525,000 USD
661-885-6949
901 34th St, Bakersfield, CA for Sale
$525,000 USD
Medical - FOR SALE
1/30
null | 7.1% Cap Rate

901 34th St
Bakersfield, CA 93301
Downtown Bakersfield


HIGHLIGHTS

  • Modernized medical office building fully leased to a regional operator with more than 10 locations
  • 7.10% Cap Rate | Long-Term Lease Through May 2031
  • Fully Renovated Interior & Exterior in 2023 with Significant Capital Improvements
  • 2.5% Annual Rent Increases with Five-Year Renewal Option
  • Located less than 0.25 miles west of Dignity Memorial Hospital, the largest regional medical center in the southern San Joaquin Valley
  • Proximity to Highway 99 and Highway 178 provides seamless routes to all areas of Kern County

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$525,000 USD

PRICE/SF

$222 USD /SF

CAP RATE

7.1%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Single-Tenant Leased Investment Opportunity

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Freestanding, Storefront, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

M-1

APN/PARCEL ID

002-031-13-00-8

ASK ABOUT THIS PROPERTY

Dylan LymASU CommercialMore Info
661-885-6949

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Dylan LymASU CommercialMore Info
661-885-6949

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