Fenced and Gated Standalone Office
For Sale
Contact for pricing
1215 L St, Bakersfield, CA 93301
Standalone office building in downtown Bakersfield with fenced and gated security and on-site parking for occupants.
Property Size1,040 SF
Price / SF$283.65
Days on Market122
Property Features for 1215 L St
General Information
Standard status
Active
Size
1,040 SF
Total Parking Spaces
7
Property subtype
OFFICE
Listing Agency:
ASU Commercial
(661) 885-6949
Listed By:
Dylan J. Lym · License #02103385
(661) 862-5454
Source:
Moodyscre
Added: May 20
Changed: Sep 2
Last Checked: Sep 16 at 6:17PM
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 ASU Commercial
Investment Insights
Based on property information with market context.
This standalone office building offers a turn-key setup and is ready for occupancy. The property is fenced and gated for security, supporting day-to-day use by a business team and visitors.
The building is located in downtown Bakersfield near the courthouse and other government facilities, which may be useful for office users seeking proximity to public-sector services. For parking, there are seven on-site parking stalls in addition to street parking.
With a 1,040 SF footprint, the space is sized for an office operation that values a manageable, dedicated building rather than shared space.
The building is located in downtown Bakersfield near the courthouse and other government facilities, which may be useful for office users seeking proximity to public-sector services. For parking, there are seven on-site parking stalls in addition to street parking.
With a 1,040 SF footprint, the space is sized for an office operation that values a manageable, dedicated building rather than shared space.
Key Highlights
- 1,040 SF standalone office building ready for occupancy
- Fenced and gated for security
- Seven on‑site parking stalls plus street parking
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
$13,759
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
4.66%
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%
$275,180
$275.2K
Cap Rate 7%
$196,557
$196.6K
Cap Rate 9%
$152,878
$152.9K
Market Conditions
NOI Build-Up for 1,040 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
$21.8K $21.00/SF
− Vacancy
−$3.5K −$3.36/SF
EGI
$18.3K $17.64/SF
− OpEx
−$4.6K −$4.41/SF
NOI
$13.8K $13.23/SF
Area
Bakersfield, CA
Vacancy
16.00%
Lease Rate
$21.00 /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%
$275,180
Cap Rate 7%
$196,557
Cap Rate 9%
$152,878
Alternative Uses
Best Use
Office B
$196.6K
$172.0K – $229.3K
NOI $13,759 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$276.0K
$241.5K – $322.0K
NOI $19,319 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,315
Businesses Nearby
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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Standalone office building in downtown Bakersfield with fenced and gated security and on-site parking for occupants.
Where is this office building located?
The property is located at 1215 L St Bakersfield, CA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 1,040 SF standalone office building ready for occupancy; Fenced and gated for security; Seven on‑site parking stalls plus street parking
