1519 32ND STREETBAKERSFIELD, CA 93301

OFFERING MEMORANDUM

T A B L E O F C O N T E N T S

1. OFFERING SUMMARY

2. MARKET OVERVIEW

OFFERING

SUMMARY 01

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTSMarcus & Millichap is pleased to present 1519 32nd

Street in the city of Bakersfield, California. This

sale presents the opportunity to purchase a free

standing industrial building with a large yard.

The subject property is comprised of a single parcel

for a total of 14,810 square feet of land. A

clearspan warehouse of 5,250 square feet (75’

wide by 70’ deep) has been built on the property.

The warehouse is of metal construction and has a

concrete stub wall, steel girder framing and a

concrete slab foundation. There is an office build-

out of approximately 600 square feet. There is a

reception area, two offices and a restroom. A roof-

top package unit provides heating/air conditioning

to the offices. The warehouse is open, clearspan

space. Clear height is 16.5 feet. There are three

oversized roll-up doors that measure 14’ wide by

16’ tall. Each roll-up door has a new electric door

opener. Utilities to the site include water, sewer,

gas and electricity. Electrical service is by way of a

single panel: 200A, 240V, 1Ph. A crane and

overhead rail system has been installed within the

warehouse providing for the ability to move

equipment/material throughout the building. An air

compressor is located in a secure enclosure on the

back of the building and air lines have been

distributed throughout the warehouse. The building

has a fire sprinkler system that meets code

requirements. The warehouse is well lit with

lighting fixtures as is the yard.

Zoning on the site is M2, which is an industrial

zoning designation that permits for many industrial

PROPERTY OVERVIEW

▪ Bakersfield Industrial Property

▪ 5,250 SF Warehouse

▪ Large Yard – Paved and Fenced

▪ Convenient Location – Good Access

▪ Clean and Functional

uses. Currently the property is being used by a

company that provides services to the oil industry

and can be delivered vacant at the close of escrow.

The lot is triangular shaped. There are streets that

border all sides of the site, providing for excellent

access to the property. A new wrought iron fence

has been constructed providing for a large, secure

yard area that can be accessed from two entry

points as well as the warehouse. The entire yard is

paved and sloped for proper drainage.

Located close to the intersection of Chester Avenue

and Golden State Avenue, the subject property is

conveniently situated in north Bakersfield. The site

is less than 2 miles from Hwy 99, less than 1 mile

from Hwy 178 and is proximate to the oil field.

This sale offers the opportunity to purchase a clean,

free standing industrial warehouse with a large yard.

1519 32nd Street has attributes that provide for

functionality and practicality and is suited for

owner/users and investors alike.

Priced at $550,000

PROPERTY DETAIL

Price $550,000

Square Feet 5,250

Price Per SF $104.76

Lot Size 14,810 SF (0.34 Acres)

Year Built 1978

Building Dimensions 75’ Wide X 70’ Deep

Clear Height 16.5’

Utilities Water, Sewer, Electric, Gas

Electrical Service 200A, 240V, 1Ph

Fire Sprinklers Yes

Air Compressor/Air Lines Yes

Crane and Overhead Rail Yes

Roll-Up Doors (14’ Wide x 16’ Tall) 3

Paving Asphalt and Concrete

APN 002-310-09

AT A GLANCE

PROPERTY PHOTO

PROPERTY PHOTOS

REGIONAL MAP

REGIONAL MAP

MARKET

OVERVIEW 02

MARKET OVERVIEW

OVERVIEW

BAKERSFIELD

The Bakersfield metro lies near the southern end of the San Joaquin

Valley and encompasses all of Kern County. The Kern River flows

through the region, which includes parts of three mountain ranges that

limit development: the Sierra Nevadas to the east, the Tehachapis to the

south and the Tremblor to the west. The city of Bakersfield, which is the

county seat, is located at the foot of the Greenhorn Mountain Range and

contains roughly 371,800 residents.

▪ Agriculture still accounts for a major portion of the local economy with the presence of companies

that include Giumarra Cos., Grimmway Farms and Bolthouse Farms.

▪ Oil and natural-gas deposits attract companies such as Aera Energy, Chevron, Ensign United States

Drilling, and Pacific Gas and Electric to the metro.

▪ The alternative-energy sector is growing; the largest wind farm and solar array in the state are

located here.

▪ The metro also has a strong aviation, space and military presence, including Edwards Air Force

Base, Halliburton and the China Lake Naval Air Weapons Station.

ECONOMY

METRO HIGHLIGHTS

CENTRAL CALIFORNIA LOCATIONAn expanding transportation network provides convenient access to California

ports, major cities and recreation areas.

NATURAL RESOURCESKern County is one of the most oil-productive counties in the nation and the Elk

Hills field is the state’s top natural-gas producer.

LOW COST OF LIVING AND DOING BUSINESSFavorable home prices, relatively lower land costs than nearby markets and a

pro-business environment attract employers and residents to the area.

DEMOGRAPHICS

894K

2017POPULATION:

274K

2017HOUSEHOLDS:

31.3

2017MEDIAN AGE:

$49,900

2017 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

37.8U.S. Median:

$56,3009%

Growth2017-2022*:

7%

Growth2017-2022*:

PROPERTY NAME

MARKETING TEAM

1636 N VENTURA AVDEMOGRAPHICS

POPULATION 1 Miles 3 Miles 5 Miles

▪ 2022 Projection

Total Population 10,448 120,079 289,400

▪ 2017 Estimate

Total Population 10,510 119,677 284,090

▪ 2010 Census

Total Population 10,051 114,392 271,475

▪ 2000 Census

Total Population 10,263 107,749 245,010

▪ Daytime Population

2017 Estimate 32,488 160,711 332,460

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2022 Projection

Total Households 4,424 40,766 97,789

▪ 2017 Estimate

Total Households 4,347 39,643 93,978

Average (Mean) Household Size 2.41 2.95 2.97

▪ 2010 Census

Total Households 4,095 37,561 89,195

▪ 2000 Census

Total Households 4,041 36,241 83,496

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2017 Estimate

$200,000 or More 2.11% 1.28% 2.33%

$150,000 - $199,000 1.57% 1.73% 3.15%

$100,000 - $149,000 6.16% 6.12% 9.24%

$75,000 - $99,999 5.95% 8.68% 10.30%

$50,000 - $74,999 13.20% 15.60% 17.49%

$35,000 - $49,999 14.78% 14.32% 13.63%

$25,000 - $34,999 12.61% 12.56% 11.71%

$15,000 - $24,999 17.93% 17.24% 15.00%

Under $15,000 25.68% 22.49% 17.14%

Average Household Income $47,366 $47,824 $59,613

Median Household Income $29,530 $32,936 $41,233

Per Capita Income $19,935 $16,152 $19,915

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population By Age

2017 Estimate Total Population 10,510 119,677 284,090

Under 20 30.99% 33.62% 32.87%

20 to 34 Years 27.50% 24.79% 23.88%

35 to 39 Years 6.02% 6.18% 6.15%

40 to 49 Years 10.44% 11.19% 11.08%

50 to 64 Years 13.70% 14.95% 15.53%

Age 65+ 11.36% 9.27% 10.49%

Median Age 30.12 29.58 30.38

▪ Population 25+ by Education Level

2017 Estimate Population Age 25+ 6,320 69,507 167,640

Elementary (0-8) 6.92% 13.63% 11.09%

Some High School (9-11) 16.94% 16.39% 13.61%

High School Graduate (12) 31.99% 28.85% 28.21%

Some College (13-15) 22.39% 23.01% 23.90%

Associate Degree Only 7.00% 5.68% 6.62%

Bachelors Degree Only 10.30% 6.09% 8.78%

Graduate Degree 3.10% 2.95% 4.61%

▪ Time Travel to Work

Average Travel Time in Minutes 22 23 23

PROPERTY NAME

MARKETING TEAM

DEMOGRAPHICS

Income

In 2017, the median household income for your selected geography is

$29,530, compare this to the US average which is currently $56,286.

The median household income for your area has changed by 18.22%

since 2000. It is estimated that the median household income in your

area will be $32,736 five years from now, which represents a change

of 10.86% from the current year.

The current year per capita income in your area is $19,935, compare

this to the US average, which is $30,982. The current year average

household income in your area is $47,366, compare this to the US

average which is $81,217.

Population

In 2017, the population in your selected geography is 10,510. The

population has changed by 2.41% since 2000. It is estimated that the

population in your area will be 10,448.00 five years from now, which

represents a change of -0.59% from the current year. The current

population is 47.93% male and 52.07% female. The median age of the

population in your area is 30.12, compare this to the US average

which is 37.83. The population density in your area is 3,343.92 people

per square mile.

Households

There are currently 4,347 households in your selected geography. The

number of households has changed by 7.57% since 2000. It is

estimated that the number of households in your area will be 4,424

five years from now, which represents a change of 1.77% from the

current year. The average household size in your area is 2.41

persons.

Employment

In 2017, there are 16,694 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

52.22% of employees are employed in white-collar occupations in this

geography, and 47.48% are employed in blue-collar occupations. In

2017, unemployment in this area is 13.86%. In 2000, the average time

traveled to work was 22.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

53.71% White, 13.28% Black, 0.15% Native American and 2.57%

Asian/Pacific Islander. Compare these to US averages which are:

70.42% White, 12.85% Black, 0.19% Native American and 5.53%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 45.55% of the current year

population in your selected area. Compare this to the US average of

17.88%.

Housing

The median housing value in your area was $160,012 in 2017,

compare this to the US average of $193,953. In 2000, there were

1,359 owner occupied housing units in your area and there were 2,682

renter occupied housing units in your area. The median rent at the

time was $400.

8

DEMOGRAPHICS