Historic Two-Story Office
For Sale
$639,000
112 S Curry Street, Tehachapi, CA 93561
Commercial Sale, Tehachapi, CA
Property Size3,526 SF
Lot Size0.16 Acres
Price / SF$181.23
Days on Market89
Property Features for 112 S Curry Street
General Information
Property type
Residential
Property subtype
Office
Zoning
C-2
Subdivision
Tehachapi City
Standard status
Active
APN
04012017
Size
3,526 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
6152
Building Details
Year built
1930
Listing Agency:
Tehachapi Summit Real Estate
(661) 822-8888
Listed By:
Adonae Faris · License #1881511
(310) 775-0786
Added: May 26
Changed: Aug 19
Last Checked: Aug 22 at 12:06AM
MLS# 9994052
Copyright © 2026 Tehachapi Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1930, this historic two-story office building features an interior layout of nine private offices, two large conference and meeting spaces, a reception area, and four bathrooms. Offices are served by exterior windows for natural light, and the property includes ceiling fans in most offices. Recent updates include commercial-grade laminate flooring, fresh interior and exterior paint, and updated lighting.
The property also includes a landscaped, fenced backyard area with a water fountain, pergola, storage shed, and alley access, supporting a practical outdoor component for the building.
The offering is zoned C-2 and totals 3,526 square feet across two floors, situated on a 0.16-acre lot at 112 S Curry Street in Tehachapi, CA 93561.
The property also includes a landscaped, fenced backyard area with a water fountain, pergola, storage shed, and alley access, supporting a practical outdoor component for the building.
The offering is zoned C-2 and totals 3,526 square feet across two floors, situated on a 0.16-acre lot at 112 S Curry Street in Tehachapi, CA 93561.
Key Highlights
- Historic 1930 Odd Fellows Building with unique art deco architecture.
- Features 9 private offices, 2 large conference spaces, reception area, and 4 bathrooms.
- Recently updated with commercial grade laminate flooring, fresh paint, and new light fixtures.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,516
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$810,320
$810.3K
Cap Rate 7%
$578,800
$578.8K
Cap Rate 9%
$450,178
$450.2K
Market Conditions
NOI Build-Up for 3,526 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.4K $17.40/SF
− Vacancy
−$7.3K −$2.08/SF
EGI
$54.0K $15.32/SF
− OpEx
−$13.5K −$3.83/SF
NOI
$40.5K $11.49/SF
Area
Kern County, CA
Vacancy
11.95%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$810,320
Cap Rate 7%
$578,800
Cap Rate 9%
$450,178
Alternative Uses
Best Use
Office B
$578.8K
$506.5K – $675.3K
NOI $40,516 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$753.3K
$659.1K – $878.8K
NOI $52,728 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11 ft
Clear height
9
Office units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
714
Businesses Nearby
Explore this area
Business Placement
Demographics for 93561, CA
31,091
Population
13,876
Households
2.2
Avg Household Size
42
Median Age
28%
College-Educated
92%
High-School Grad
301.8 sq mi
ZIP Area
103
Density / Sq Mi
$86,149
Median Household Income
$52,088
Median Earnings
$1,299
Median Rent
$377,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with private offices, conference rooms, reception area, four bathrooms, and updates throughout.
Where is this office building located?
The property is located at 112 S Curry Street Tehachapi, CA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Historic 1930 Odd Fellows Building with unique art deco architecture.; Features 9 private offices, 2 large conference spaces, reception area, and 4 bathrooms.; Recently updated with commercial grade laminate flooring, fresh paint, and new light fixtures.
