7001 White Lane
Industrial | 23,285 SF
Marketing description
ASU Commercial is pleased to present the opportunity to acquire 7001 White Lane, which is a 23,285 square foot multi-tenant office/flex/warehouse building which is 95% leased to five (5) Tenants. The project is commonly known as the Stockdale Automotive Center and is located within the Stockdale Industrial Park in southwest Bakersfield. Half of the Tenants, who collectively occupy sixty-one percent (61%) of the projects footprint have been in the project over ten (10) years; providing stability to the new ownership.
The location offers frontage on White Lane, which is a major east-west arterial in Southwest Bakersfield and is located just three (3) miles west of the Bakersfield Auto Mall. The building is fully sprinkled, fully paved and offers a recently updated greenscape along White Lane with convenient ingress/egress from two (2) locations along Mexicali Drive and is situated on 2.13 acres of M-1 (Light Industrial) zoned land.
Investment highlights
This project offers significant upside in annual rent if new ownership wanted to convert all or a portion of the existing suites into retail as the project is parked to accommodate a more heavily trafficked use. The ownership recently completed an expansion of the parking count by thirty (30) stalls in 2021 to allow for retail, medical or office uses. Offered significantly below replacement cost, 7001 White Lane was originally constructed in 1987 and has maintained above 95% occupancy for the past decade. The project consists of two (2) buildings demised into twenty (20) individual suites with a breezeway in between the two buildings. The breezeway can be enclosed to provide storage space for an existing tenant and would allow the new owner to increase the square footage of the project inexpensively while increasing the monthly income. Current ownership has renovated and remodeled eight (8) of the suites since acquiring the property.
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