With 7 hotels for sale in Bakersfield, California, investors have a wide range of opportunities to tap into the city's growing tourism and business sectors. Hotels in Bakersfield offer a unique investment opportunity, providing a chance to capitalize on the city's strategic location at the southern end of the San Joaquin Valley. As a hub for agriculture and energy production, Bakersfield attracts a diverse range of visitors, from business travelers to tourists exploring the city's rich cultural heritage. With amenities like the Meadows Field Airport, Mechanics Bank Arena, and the Bakersfield Sports Village, hotels in Bakersfield are well-positioned to cater to the needs of visitors. The city's geography, with its proximity to the Sierra Nevada and the Tehachapi Mountains, also makes it an attractive destination for outdoor enthusiasts. Additionally, Bakersfield is home to several major companies, including Chevron, Aera Energy, and Grimmway Farms, which contributes to the city's strong economy.
Bakersfield's hotel market is characterized by a range of properties, from budget-friendly options to luxury establishments. With an average price per square foot of $239 USD and an average size of 40,304 square feet, hotels in Bakersfield offer investors a range of opportunities to suit their budget and investment goals. The city's hotel market is also supported by a strong infrastructure, with several major highways and transportation facilities, including the Bakersfield Amtrak station and the Golden Empire Transit bus system. In addition to hotels, Bakersfield also offers a range of other investment opportunities, including restaurants, apartment buildings, and shopping centers. Restaurants in Bakersfield, for example, can capitalize on the city's growing food scene, while apartment buildings can cater to the needs of the city's growing population of around 400,000 people. Shopping centers, meanwhile, can take advantage of the city's strong retail market, with several major shopping centers, including the Valley Plaza Mall and the Marketplace. Overall, Bakersfield offers a unique investment opportunity, with a range of properties and sectors to choose from.
What factors should I consider when buying a hotel in Bakersfield?
When considering buying a hotel in Bakersfield, there are several key factors to take into account, including:
- The current state of the local hospitality market, with 7 available listings of hotels in Bakersfield, and an average price per square foot of $239 USD, indicating a competitive market.
- The average size of hotels in Bakersfield, which is approximately 40,304 square feet, with the largest hotel spanning 73,668 square feet, to ensure your property can accommodate the needs of your target market.
- The average cap rate of hotels in Bakersfield, which is 8.23%, to determine the potential return on investment for your property.
Additionally, it's essential to research the local economy, infrastructure, and attractions, such as the city's strong oil and agriculture industries, its extensive highway network, and popular amenities like the Meadows Field Airport and Mechanics Bank Arena, to understand the demand for hotel accommodations in the area. Furthermore, exploring financing options, such as CRE loans, can help you secure the necessary funding for your hotel purchase. For more information on commercial real estate loans, visit CRE loans.
How is the value of a hotel for sale typically calculated?
When evaluating a hotel for sale in Bakersfield, the value is typically calculated using a combination of factors, including the property's income, expenses, and local market conditions. A CRE appraisal, as discussed in our article at CRE appraisals, can provide a comprehensive analysis of the hotel's value, taking into account its unique characteristics, such as its average price per square foot of $239 USD, average size of 40,304 square feet, and average cap rate of 8.23%.
