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The Noriega Hotel Basque Restaurant is for sale/rent in Bakersfield. Want to know the asking price?

05/19/2020

Images of the of the Noriega Hotel in Bakersfield, including its kantxa (photo EuskalKultura.eus)
Images of the of the Noriega Hotel in Bakersfield, including its kantxa (photo EuskalKultura.eus)

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Bakersfield, CA, USA. The Coronavirus brought us bad news from Bakersfield that the historic Noriega Hotel would not reopen after the mandatory confinement phase.  The building, that still guards the memories and experiences of several generations of California Basques has now been put on the market, and it remains to be seen what's to be the future of this classic meeting point for Basques and non-Basques in the area, witness to countless weddings, banquets, meetings, daily menus, pelota matches and life stories.

This is a significant property that includes a bar, restaurant, and 19-room hotel (some used today for storage, and others needing much work to satisfy today’s requirements) and the fronton, all part of the important Basque heritage in Jern County and Southern California.  For years, the main incomes have been coming from the restaurant, one of the most popular and familiar in the city.  It goes without saying that its survival will depend on the buyers, and that the chances of its disappearance are high.

Here are the sale or rental figures for the property (ad).

Noriega Hotel Basque Restaurant in Bakersfield

  Asking Price: $ 157,199

  Cash Flow: $ 52,601

  Gross Revenue:  $ 610,971 

  Inventory: $ 15,149

  Rent: $ 3,000 / month

  Furniture, Fixtures & Equipment (FF&E): $ 92,000

 

 

 



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