Versatile Industrial Property in
For Sale
$699,000
2810 Patton Way, Bakersfield, CA 93308
Industrial property with flexible buildings and a spacious shop.
Property Size2,600 SF
Price / SF$268.85
Days on Market497
Property Features for 2810 Patton Way
General Information
Standard status
Active
Size
2,600 SF
Listing Agency:
OPEN DOOR REAL ESTATE
Listed By:
MIGUEL HERNANDEZ
Source:
Corcoran
Added: Apr 22, 2025
Changed: Mar 16
Last Checked: Aug 30 at 8:01PM
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 OPEN DOOR REAL ESTATE
Investment Insights
Based on property information with market context.
This industrial property, located on the northwest side of Bakersfield, features two approximately 1,300 square foot buildings suitable for conversion into modern offices or living spaces. The property also includes a 4,400 square foot shop equipped with roll-up doors, ideal for industrial, manufacturing, or storage activities. The shop provides ample space for various business operations, making it a suitable location for entrepreneurs and businesses seeking a robust workspace. The property size is 2,600 square feet.
Key Highlights
- Large 4,400 sq ft shop with roll‑up doors ideal for industrial, manufacturing, or storage.
- Two versatile ~1,300 sq ft buildings adaptable for office or living spaces.
- Located on the northwest side of Bakersfield.
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
$32,235
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
4.61%
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%
$644,700
$644.7K
Cap Rate 7%
$460,500
$460.5K
Cap Rate 9%
$358,167
$358.2K
Market Conditions
NOI Build-Up for 2,600 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
$40.6K $15.60/SF
− Vacancy
−$2.6K −$1.01/SF
EGI
$37.9K $14.59/SF
− OpEx
−$5.7K −$2.19/SF
NOI
$32.2K $12.40/SF
Area
Bakersfield, CA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
15.00%
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%
$644,700
Cap Rate 7%
$460,500
Cap Rate 9%
$358,167
Alternative Uses
Best Use
Warehouse
$460.5K
$402.9K – $537.3K
NOI $32,235 @ 7.0% cap · market cap 4.61%
Second Best
Industrial
$379.2K
$331.8K – $442.5K
NOI $26,547 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$690.0K
$603.7K – $805.0K
NOI $48,298 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 93308, CA
56,037
Population
21,443
Households
2.6
Avg Household Size
35
Median Age
18%
College-Educated
84%
High-School Grad
344.6 sq mi
ZIP Area
163
Density / Sq Mi
$59,511
Median Household Income
$39,676
Median Earnings
$1,260
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Industrial property with flexible buildings and a spacious shop.
Where is this manufacturing property located?
The property is located at 2810 Patton Way Bakersfield, CA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Large 4,400 sq ft shop with roll‑up doors ideal for industrial, manufacturing, or storage.; Two versatile ~1,300 sq ft buildings adaptable for office or living spaces.; Located on the northwest side of Bakersfield.
