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