Single-Story
For Sale
$249,000
Pending
640 Commercial Ave, Ridgecrest, CA 93555
Multi Family, Ridgecrest, CA
Property Size1,672 SF
Lot Size0.15 Acres
Days on Market125
Property Features for 640 Commercial Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 2, Bathroom 1
Interior features
Flooring- Tile, Flooring- Carpet
Appliances
Water Heater- Nat. Gas, Dishwasher, Garbage Disposal, Oven/Range, Refrigerator, W/D Hookups
Lot features
Curb & Gutter, Fenced- Partial
Directions
Sunland to Commercial
Subdivision
South East
Standard status
Pending
APN
080-051-38
Size
1,672 SF
Lot size
0.15 Acres
Utilities
Heating system
Natural Gas
Cooling system
Evaporative Cooling
Building Details
Year built
1976
Number of units
2
Roof type
Composition
Listing Agency:
TNT Western Homes Inc.
(760) 384-0000
Listed By:
Timothy D. Jacobs · License #1468735
(760) 384-8884
Added: May 11
Changed: Sep 3
Last Checked: Sep 12 at 11:06AM
MLS# 2608424
Copyright © 2026 Southern Sierra MLS. 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 single-story duplex was built in 1976 and occupies a 6,534-square-foot lot measuring 0.15 acres. The property includes tile and carpet flooring, natural-gas floor or wall furnace heating, and evaporative cooling. Kitchen and laundry-related features include a dishwasher, garbage disposal, oven/range, refrigerator, water heater, and washer/dryer hookups. The composition roof completes the building’s primary improvements.
Located at 640 Commercial Ave in Ridgecrest, the property is near Naval Air Weapons Station. Parking is available on site, and the duplex configuration supports separate residential units within one building.
Located at 640 Commercial Ave in Ridgecrest, the property is near Naval Air Weapons Station. Parking is available on site, and the duplex configuration supports separate residential units within one building.
Key Highlights
- Duplex on a 6,534‑square‑foot lot measuring 0.15 acres
- Built in 1976 with a single‑story configuration
- Natural‑gas floor or wall furnace heating
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
$20,870
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
8.38%
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%
$417,400
$417.4K
Cap Rate 7%
$298,143
$298.1K
Cap Rate 9%
$231,889
$231.9K
Market Conditions
NOI Build-Up for 1,672 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
$30.7K $18.36/SF
− Vacancy
−$884 −$0.53/SF
EGI
$29.8K $17.83/SF
− OpEx
−$8.9K −$5.35/SF
NOI
$20.9K $12.48/SF
Area
Kern County, CA
Vacancy
2.88%
Lease Rate
$18.36 /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%
$417,400
Cap Rate 7%
$298,143
Cap Rate 9%
$231,889
Alternative Uses
Best Use
Multifamily LT 5
$298.1K
$260.9K – $347.8K
NOI $20,870 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$275.2K
$240.8K – $321.0K
NOI $19,262 @ 7.0% cap · market cap 7.74%
Theoretical Best
Warehouse
$357.2K
$312.5K – $416.7K
NOI $25,003 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 93555, CA
32,810
Population
14,401
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
91%
High-School Grad
78.1 sq mi
ZIP Area
420
Density / Sq Mi
$84,141
Median Household Income
$50,198
Median Earnings
$1,180
Median Rent
$235,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with natural-gas heating, evaporative cooling, and on-site parking.
Where is this duplex located?
The property is located at 640 Commercial Ave Ridgecrest, CA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Duplex on a 6,534‑square‑foot lot measuring 0.15 acres; Built in 1976 with a single‑story configuration; Natural‑gas floor or wall furnace heating
