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Key Details
Sold Price $11,100,000
Property Type Commercial
Sub Type Warehouse
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV20060121
Sold Date 06/05/20
HOA Y/N No
Year Built 1986
Lot Size 18.650 Acres
Property Description
John 14:6 - And Jesus said to him "I am the Way, the Truth, and the Life. No one comes to the Father except through Me."
THE STORAGE BIN is located at 1124 4th Street in the city of Taft, CA. THE STORAGE BIN was built in three phases starting in 1986 and ending in 2003. This single story facility consists of 94,875 rentable square feet of self storage space divided into 802 units, as well as 71,460 rentable square feet of RV Parking divided into 175 units. For the past 34 years the facility has historically operated above 95% occupancy with a waiting list. This is achievement comes without a website or internet presence.
As a result of higher rental rates and low vacancy for storage facilities in nearby Bakersfield, THE STORAGE BIN attracts several customers from the city of Bakersfield. The facility also attracts customers from nearby Taft College, which is a community college consisting of 5,723 students and 200 faculty.
The property is the only facility in the city and with High Barriers to entry of new storages, it will be the only storage around for quite some time. The closest competitors are located 25 miles east in the western part of Bakersfield. The facility comes equipped with an On Site Office, Electronic Gates, Roll Up Doors, Wide Driveways, 31 Security Cameras, Covered RV Parking, Vehicle Wash Station, and excess land for expansion. The Facility has roughly 4 acres of usable undeveloped land for expansion of Enclosed and RV storage units.
Location
State CA
County Kern
Area Taft - Taft
Zoning Warehouse
Interior
Fireplace No
Laundry None
Building
Lot Description Cul-De-Sac
Water Public
Others
Tax ID 03002051
Security Features Security System,Gated with Guard,24 Hour Security,Security Lights
Acceptable Financing Cash to New Loan, 1031 Exchange, Submit
Listing Terms Cash to New Loan, 1031 Exchange, Submit
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with BRANDON ROBINSON • BRANDON ROBINSON, BROKER
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Adrian Castillo
Principal/Realtor | CA DRE#01308935
Principal/Realtor CA DRE#01308935