Remodeled Two-Unit Retail
For Sale
Contact for pricing
1305 N Chester Ave, Bakersfield, CA 93308
Two updated suites provide open storefront areas, private rooms, storage, alley access, and a fenced yard.
Property Size6,000 SF
Price / SF$132.50
Days on Market191
Property Features for 1305 N Chester Ave
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Retail
Zoning
CC
Lease Type
Modified Gross
Building Details
Year Built
1940
Year Renovated
2025
Units
2
Listing Agency:
C21 Commercial
(559) 359-4035
Listed By:
Jared Ennis · License #CA
Source:
Crexi
Added: Feb 20
Changed: Aug 29
Last Checked: Aug 29 at 4:37PM
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 C21 Commercial
Investment Insights
Based on property information with market context.
This retail property at 1305 N Chester Ave includes two suites totaling approximately 6,000 SF. Suite 1303 contains approximately 1,100 SF of open retail area, a rear private office, and a private restroom. Suite 1305 offers approximately 4,900 SF, including approximately 4,400 SF of retail space, approximately 500 SF of storage, and a private bathroom. Both suites have been updated with new flooring, electrical work, and paint. The building was constructed in 1940 and is zoned CC.
The property is positioned on Chester Avenue between E Roberts Lane and E Norris Road in northern Bakersfield, with alley access, a fully fenced yard, and convenient access to a major highway. Nearby businesses include Subway, Taco Bell, Shell, Mobile, Walmart, FedEx, 7-Eleven, and O'Reilly Auto Parts, along with restaurants and other services.
The property is positioned on Chester Avenue between E Roberts Lane and E Norris Road in northern Bakersfield, with alley access, a fully fenced yard, and convenient access to a major highway. Nearby businesses include Subway, Taco Bell, Shell, Mobile, Walmart, FedEx, 7-Eleven, and O'Reilly Auto Parts, along with restaurants and other services.
Key Highlights
- Approximately 6,000 SF of retail space across two suites
- Suite 1303 includes approximately 1,100 SF, a private office, and private restroom
- Suite 1305 includes approximately 4,400 SF of retail space and approximately 500 SF of storage
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
$57,456
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
7.23%
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%
$1,149,120
$1.1M
Cap Rate 7%
$820,800
$820.8K
Cap Rate 9%
$638,400
$638.4K
Market Conditions
NOI Build-Up for 6,000 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
$86.4K $14.40/SF
− Vacancy
−$4.3K −$0.72/SF
EGI
$82.1K $13.68/SF
− OpEx
−$24.6K −$4.10/SF
NOI
$57.5K $9.58/SF
Area
Bakersfield, CA
Vacancy
5.00%
Lease Rate
$14.40 /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%
$1,149,120
Cap Rate 7%
$820,800
Cap Rate 9%
$638,400
Alternative Uses
Best Use
Retail
$820.8K
$718.2K – $957.6K
NOI $57,456 @ 7.0% cap · market cap 7.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,456 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
44k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 80%
Home Improvements & Furnishings 20%
Fastrip
Shops & Services
24,668 visits/mo
0.2 miles
Floyd's General Store
Home Improvements & Furnishings
8,844 visits/mo
0.5 miles
Valero Energy
Shops & Services
6,447 visits/mo
0.2 miles
O'Reilly Auto Parts
Shops & Services
4,337 visits/mo
0.3 miles
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 Retail in Bakersfield, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two updated suites provide open storefront areas, private rooms, storage, alley access, and a fenced yard.
Where is this retail space located?
The property is located at 1305 N Chester Ave Bakersfield, CA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Approximately 6,000 SF of retail space across two suites; Suite 1303 includes approximately 1,100 SF, a private office, and private restroom; Suite 1305 includes approximately 4,400 SF of retail space and approximately 500 SF of storage
