Office Building in Lamont,
For Sale
Contact for pricing
10215 Stobaugh St, Lamont, CA 93241
Office building occupied by the County of Kern for sale.
Property Size9,802 SF
Price / SF$142.83
Days on Market900
Property Features for 10215 Stobaugh St
General Information
Standard status
Active
Size
9,802 SF
Property subtype
Office
Occupancy
100%
Net Operating Income
$93,526
Building Details
Year Built
1994
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Cushman & Wakefield - Bakersfield, California
Listed By:
Vincent Roche · License #CA 01155079
Source:
Crexi
Added: Mar 19, 2024
Changed: Aug 28
Last Checked: Sep 2 at 11:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield - Bakersfield, California
Investment Insights
Based on property information with market context.
This office building, located in Lamont, California, is currently occupied by the County of Kern, providing essential services to the local community. The property features new interior improvements and ample parking space. The building has a total area of 9802 square feet.
Key Highlights
- Occupied by the County of Kern, providing stable tenancy
- Below replacement cost at $143.00/sf
- New interior improvements
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
$112,630
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
8.05%
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%
$2,252,600
$2.3M
Cap Rate 7%
$1,609,000
$1.6M
Cap Rate 9%
$1,251,444
$1.3M
Market Conditions
NOI Build-Up for 9,802 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
$170.6K $17.40/SF
− Vacancy
−$20.4K −$2.08/SF
EGI
$150.2K $15.32/SF
− OpEx
−$37.5K −$3.83/SF
NOI
$112.6K $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%
$2,252,600
Cap Rate 7%
$1,609,000
Cap Rate 9%
$1,251,444
Alternative Uses
Best Use
Office B
$1.61M
$1.41M – $1.88M
NOI $112,630 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.09M
$1.83M – $2.44M
NOI $146,579 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
Explore this area
Business Placement
Demographics for 93241, CA
15,707
Population
4,698
Households
3.3
Avg Household Size
28
Median Age
4%
College-Educated
39%
High-School Grad
5.0 sq mi
ZIP Area
3,141
Density / Sq Mi
$31,563
Median Household Income
$20,781
Median Earnings
$946
Median Rent
$199,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office building occupied by the County of Kern for sale.
Where is this office building located?
The property is located at 10215 Stobaugh St Lamont, CA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Occupied by the County of Kern, providing stable tenancy; Below replacement cost at $143.00/sf; New interior improvements
