Description

Gateway Plaza is a 32,635-square-foot multi-tenant retail center offered for sale at the southwest corner of Union Avenue and 4th Street in downtown Bakersfield. The property contains 13 retail suites, including space occupied by Family Dollar, and combines current income with additional leasing upside.

Built in 2005 on approximately 2.94 acres, the center provides prominent Union Avenue frontage, two curb cuts, corner signage and parking around the building. Existing leases are structured on a triple-net basis. C-2 zoning supports the property’s retail use, and nearby access to CA-58 connects the center with the broader Bakersfield market.

The asking price is $3,500,000, equal to approximately $107.25 per square foot. Reported net operating income is $280,400, supporting an 8.01% capitalization rate. The combination of in-place tenancy, vacant-space lease-up potential and visible corner positioning gives investors both current cash flow and a defined value-add path.