Former Bank Building with
For Sale
Contact for pricing
1309 N Chester Ave, Bakersfield, CA 93308
Former bank building with functional vault and teller stations on a C-2 zoned lot.
Property Size6,060 SF
Lot Size0.34 Acres
Price / SF$148.51
Days on Market538
Property Features for 1309 N Chester Ave
General Information
Standard status
Active
Size
6,060 SF
Lot size
0.34 Acres
Property subtype
RETAIL
Zoning
C-2
Additional Details
Business Included
No
Listing Agency:
Central Valley Commercial Brokers (CVCB)
(661) 404-4090
Listed By:
Marcus Duarte · License #01972531
Source:
Moodyscre
Added: Mar 26, 2025
Changed: Sep 7
Last Checked: Sep 14 at 11:28AM
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 Central Valley Commercial Brokers (CVCB)
Investment Insights
Based on property information with market context.
The property is a 6,060-square-foot building that was formerly used as a bank. It features functional vault space and teller stations, providing a distinct interior configuration for an owner-operator or redevelopment planning. A large monument is also included.
The building sits on an 14,810-square-foot lot and is listed with C-2 zoning. The property address is 1309 N Chester Ave, Bakersfield, CA 93308.
For buyers seeking a bank-to-other-use conversion or adaptive reuse, the existing vault and teller station layout are key improvements to evaluate alongside the C-2 zoning for redevelopment flexibility.
The building sits on an 14,810-square-foot lot and is listed with C-2 zoning. The property address is 1309 N Chester Ave, Bakersfield, CA 93308.
For buyers seeking a bank-to-other-use conversion or adaptive reuse, the existing vault and teller station layout are key improvements to evaluate alongside the C-2 zoning for redevelopment flexibility.
Key Highlights
- 6,060 sq. ft. building previously used as a bank
- Functional vault and teller stations in place
- 14,810 sq. ft. lot
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
$62,176
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
6.91%
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%
$1,243,520
$1.2M
Cap Rate 7%
$888,229
$888.2K
Cap Rate 9%
$690,844
$690.8K
Market Conditions
NOI Build-Up for 6,060 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
$87.3K $14.40/SF
− Vacancy
−$4.4K −$0.72/SF
EGI
$82.9K $13.68/SF
− OpEx
−$20.7K −$3.42/SF
NOI
$62.2K $10.26/SF
Area
Bakersfield, CA
Vacancy
5.00%
Lease Rate
$14.40 /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%
$1,243,520
Cap Rate 7%
$888,229
Cap Rate 9%
$690,844
Alternative Uses
Best Use
Specialty Retail
$888.2K
$777.2K – $1.04M
NOI $62,176 @ 7.0% cap · market cap 6.91%
Second Best
Retail
$829.0K
$725.4K – $967.2K
NOI $58,031 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,571 @ 7.0% cap · market cap 12.51%
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
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Bakersfield, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Former bank building with functional vault and teller stations on a C-2 zoned lot.
Where is this bank located?
The property is located at 1309 N Chester Ave Bakersfield, CA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 6,060 sq. ft. building previously used as a bank; Functional vault and teller stations in place; 14,810 sq. ft. lot
