901 34th St, Bakersfield, CA 93301

Property Description

ASU Commercial is pleased to present 901 34th Street, a fully leased single-tenant medical office investment in Downtown Bakersfield's established healthcare corridor. The 2,370 SF building sits on a 9,963 SF corner parcel and was extensively renovated in 2023, creating a modern asset with minimal near-term capital needs. The property is leased to an established regional operator with more than ten California locations, providing stable cash flow through May 31, 2031. The lease includes 2.5% annual rent increases, one five-year renewal option, and a modified gross structure that limits landlord responsibilities. Recent improvements include a new roof, HVAC, water heater, flooring, lighting, ADA upgrades, security system, and remodeled interior finishes. The property offers 15 gated parking spaces. Located at the corner of 34th Street and Panama Street, the asset is less than a quarter mile from Dignity Health Memorial Hospital and offers convenient access to Highways 99 and 178.