Multi-Building Flex
For Sale
$1,025,000
2305 Chester Avenue, Bakersfield, CA 93301
Commercial Sale, Bakersfield, CA
Property Size9,150 SF
Lot Size0.21 Acres
Price / SF$112.02
Days on Market67
Property Features for 2305 Chester Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C2
Subdivision
10
Standard status
Active
APN
00539205
Size
9,150 SF
Lot size
0.21 Acres
Amenities
solar system
200-amp 220-volt electrical service
Building Details
Year built
1929
Listing Agency:
Watson Realty
(661) 327-5161
Listed By:
Carlos Padilla
(661) 859-5762
Added: Jun 24
Changed: Aug 26
Last Checked: Aug 29 at 12:06AM
MLS# 202600117
Copyright © 2026 Golden Empire MLS, Inc. 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.
This flex-space property totals approximately 9,150 square feet in two distinct buildings. One structure provides a retail storefront, while the other is configured as a shop and warehouse, creating physical separation between customer-facing and operational areas. The property includes a 79-panel, fully paid solar system and 200-amp, 220-volt electrical service. C2 zoning supports a range of commercial formats identified for the property, including retail, restaurants, cafes, and offices.
Located at 2305 Chester Avenue in Bakersfield, the asset fronts a major commercial corridor and occupies a 0.21-acre site. Built in 1929, the multi-building layout provides separate functional areas within a single commercial property.
Located at 2305 Chester Avenue in Bakersfield, the asset fronts a major commercial corridor and occupies a 0.21-acre site. Built in 1929, the multi-building layout provides separate functional areas within a single commercial property.
Key Highlights
- Approximately 9,150 square feet across two separate buildings
- 79‑panel, fully paid solar system
- 200‑amp, 220‑volt electrical service
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
$93,423
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
9.11%
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%
$1,868,460
$1.9M
Cap Rate 7%
$1,334,614
$1.3M
Cap Rate 9%
$1,038,033
$1.0M
Market Conditions
NOI Build-Up for 9,150 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
$142.7K $15.60/SF
− Vacancy
−$9.3K −$1.01/SF
EGI
$133.5K $14.59/SF
− OpEx
−$40.0K −$4.38/SF
NOI
$93.4K $10.21/SF
Area
Bakersfield, CA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,868,460
Cap Rate 7%
$1,334,614
Cap Rate 9%
$1,038,033
Alternative Uses
Best Use
Warehouse
$1.62M
$1.42M – $1.89M
NOI $113,443 @ 7.0% cap · market cap 11.07%
Second Best
Industrial
$1.33M
$1.17M – $1.56M
NOI $93,423 @ 7.0% cap · market cap 9.11%
Theoretical Best
Office A
$2.43M
$2.12M – $2.83M
NOI $169,970 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,406
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 93301, CA
14,518
Population
6,202
Households
2.3
Avg Household Size
33
Median Age
20%
College-Educated
83%
High-School Grad
4.3 sq mi
ZIP Area
3,376
Density / Sq Mi
$40,725
Median Household Income
$36,623
Median Earnings
$1,129
Median Rent
$264,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - C2-zoned property combines a retail storefront with a separate shop and warehouse building.
Where is this flex space located?
The property is located at 2305 Chester Avenue Bakersfield, CA.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Approximately 9,150 square feet across two separate buildings; 79‑panel, fully paid solar system; 200‑amp, 220‑volt electrical service
