Flex Space with Roll-Up
For Sale
Contact for pricing
3600 Pegasus Dr, Bakersfield, CA 93308
Flex space built with modern office finishes and a full warehouse with roll-up doors plus private fenced yards.
Property Size3,800 SF
Price / SF$175
Days on Market1324
Property Features for 3600 Pegasus Dr
General Information
Standard status
Active
Size
3,800 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Building Details
Construction
masonry block and steel
Listing Agency:
ASU Commercial
(661) 885-6949
Listed By:
Wesley M. McDonald
(661) 885-6950
Source:
Moodyscre
Added: Feb 1, 2023
Changed: Sep 9
Last Checked: Sep 16 at 4:12PM
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 flex space is configured as individual condo units with separate utilities. The building features masonry block and steel construction and includes modern, turn-key office finishes with appliances. Interior finishes also include high polish colored concrete floors.
A full warehouse portion includes a 12’ x 12’ roll-up door, with private fenced yards for each unit. The property is located close to Meadows Field Airport and provides easy access to northbound and southbound Highway 99 and Highway 65.
With a mix of office improvements and warehouse functionality, the space is suited to users who want on-site office buildout paired with warehouse access and fenced outdoor storage or staging areas.
A full warehouse portion includes a 12’ x 12’ roll-up door, with private fenced yards for each unit. The property is located close to Meadows Field Airport and provides easy access to northbound and southbound Highway 99 and Highway 65.
With a mix of office improvements and warehouse functionality, the space is suited to users who want on-site office buildout paired with warehouse access and fenced outdoor storage or staging areas.
Key Highlights
- 3800 SF flex space configured as individual condo units with separate utilities
- Full warehouse with 12’ x 12’ roll‑up door
- Modern, turn‑key office finishes with appliances
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
$50,274
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
7.56%
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%
$1,005,480
$1.0M
Cap Rate 7%
$718,200
$718.2K
Cap Rate 9%
$558,600
$558.6K
Market Conditions
NOI Build-Up for 3,800 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
$79.8K $21.00/SF
− Vacancy
−$12.8K −$3.36/SF
EGI
$67.0K $17.64/SF
− OpEx
−$16.8K −$4.41/SF
NOI
$50.3K $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%
$1,005,480
Cap Rate 7%
$718,200
Cap Rate 9%
$558,600
Alternative Uses
Best Use
Office B
$718.2K
$628.4K – $837.9K
NOI $50,274 @ 7.0% cap · market cap 7.56%
Second Best
Warehouse
$673.0K
$588.9K – $785.2K
NOI $47,113 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$1.01M
$882.4K – $1.18M
NOI $70,589 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Flex space - Flex space built with modern office finishes and a full warehouse with roll-up doors plus private fenced yards.
Where is this flex space located?
The property is located at 3600 Pegasus Dr Bakersfield, CA.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: 3800 SF flex space configured as individual condo units with separate utilities; Full warehouse with 12’ x 12’ roll‑up door; Modern, turn‑key office finishes with appliances
