Corner-Lot Flex Space with
New
For Sale
$1,340,000
1407 34th E, Bakersfield, CA 93301
Two-building commercial property with glass frontage, natural light, and adaptable space for showroom, office, warehouse, or retail functions.
Property Size11,365 SF
Lot Size1.03 Acres
Price / SF$117.91
Days on Market2
Property Features for 1407 34th E
General Information
Standard status
Active
Size
11,365 SF
Lot size
1.03 Acres
Property subtype
Industrial
Additional Details
Corner Location
Yes
Amenities
mezzanine
glass-front façade
Building Details
Building Size
11,365 SF
Year Built
2007
Buildings
2
Listing Agency:
Lisa Tucker Hood, Broker
Listed By:
Lisa Tucker Hood · License #01890417
(661) 201-3879
Source:
Elliman
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 1 at 3:13PM
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 Lisa Tucker Hood, Broker
Investment Insights
Based on property information with market context.
This flex property comprises two commercial buildings totaling 11,365 square feet. Building 1 contains approximately 6,486 square feet, while Building 2 provides approximately 4,879 square feet. A mezzanine adds functional area for product display, showroom use, retail, office functions, or business operations, subject to applicable requirements. The property also includes a glass-front façade that brings in natural light and supports product or service presentation, along with ample parking.
The property occupies a corner lot with four APN numbers and is located near Memorial Hospital, medical offices, and the newly built Sierra Clinica Vista Facility. Its configuration can accommodate a range of commercial applications, including automotive, medical, showroom, warehouse, office, and retail uses, subject to zoning and permitting requirements.
The property occupies a corner lot with four APN numbers and is located near Memorial Hospital, medical offices, and the newly built Sierra Clinica Vista Facility. Its configuration can accommodate a range of commercial applications, including automotive, medical, showroom, warehouse, office, and retail uses, subject to zoning and permitting requirements.
Key Highlights
- 11,365 square feet across two commercial buildings
- Building 1: approximately 6,486 square feet; Building 2: approximately 4,879 square feet
- Mezzanine provides additional functional space
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
$116,039
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
8.66%
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%
$2,320,780
$2.3M
Cap Rate 7%
$1,657,700
$1.7M
Cap Rate 9%
$1,289,322
$1.3M
Market Conditions
NOI Build-Up for 11,365 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
$177.3K $15.60/SF
− Vacancy
−$11.5K −$1.01/SF
EGI
$165.8K $14.59/SF
− OpEx
−$49.7K −$4.38/SF
NOI
$116.0K $10.21/SF
Area
Bakersfield, CA
Vacancy
6.50%
Lease Rate
$15.60 /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%
$2,320,780
Cap Rate 7%
$1,657,700
Cap Rate 9%
$1,289,322
Alternative Uses
Best Use
Warehouse
$2.01M
$1.76M – $2.35M
NOI $140,904 @ 7.0% cap · market cap 10.52%
Second Best
Industrial
$1.66M
$1.45M – $1.93M
NOI $116,039 @ 7.0% cap · market cap 8.66%
Theoretical Best
Office A
$3.02M
$2.64M – $3.52M
NOI $211,116 @ 7.0% cap · market cap 15.75%
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
2,132
Businesses Nearby
Under-served
Demand for This Use
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Two-building commercial property with glass frontage, natural light, and adaptable space for showroom, office, warehouse, or retail functions.
Where is this flex space located?
The property is located at 1407 34th E Bakersfield, CA.
What is the asking price?
The asking price for this property is $1,340,000.
What are key features of this property?
This property features: 11,365 square feet across two commercial buildings; Building 1: approximately 6,486 square feet; Building 2: approximately 4,879 square feet; Mezzanine provides additional functional space
