Village at Towne Centre FOR SALE


Bakersfield, CA - Downtown Bakersfield
$9,450,000 USD
818-512-1715
, Bakersfield, CA for Sale
$9,450,000 USD
FOR SALE
1/8
null | 7.23% Cap Rate

Village at Towne Centre
Bakersfield, CA
Downtown Bakersfield


HIGHLIGHTS

  • Village at Towne Centre offers a 97.1% leased retail / mixed-use center with an established tenant roster.
  • The property is positioned along 24th Street in Downtown Bakersfield near Highway 178, providing visibility and access along a high-traffic corridor.
  • Existing NNN lease structures and contractual annual rent escalations provide a framework for recurring income growth.
  • Property includes a 0.84-acre value-add parcel, and the current owner has negotiated a lease contract with Tesla for a 12-space supercharging station

OVERVIEW

We are pleased to present Village at Towne Centre, a premier retail center strategically positioned at 1201 24th Street in Downtown Bakersfield, CA between 23rd and 24th Streets just off HWY 178. Village at Towne Centre is a prime retail/mixed-use shopping center located on a high-traffic major arterial connecting East and West Bakersfield. Positioned between the on and off-ramps of Highway 178, the center offers exceptional visibility, accessibility, and exposure, with over 50,000 vehicles passing daily. Investment Highlights: Neighborhood Shopping Center - Zoned C-2. • Retail/Mixed use center with mix of national &local tenants. • High Traffic Counts - 54,252 AADT on 24th Street and M Street and 52,859 AADT on 23rd Street and M Street (2024 - www.kerncog.com) --- see CoStar UW report in Deal Room. • Investors will bene t from a recession-resilient tenant mix anchored by essential-service and necessity-based retailers including Western Dental and Starbucks. VTC has demonstrated consistent operating performance through multiple economic cycles, driven by the property's dominant position within the Bakersfield, CA trade area and its mission-critical function for surrounding residents. We welcome the opportunity to provide additional due-diligence materials and coordinate site visits with serious purchasers. Two APNs - FEE SIMPLE ownership - 2.1 acres APN 005-332-01 & .84acres APN 005-212-07.

ASK ABOUT THIS PROPERTY

Paul StansenPaul E Stansen, APCMore Info
818-512-1715

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Paul StansenPaul E Stansen, APCMore Info
818-512-1715

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