Two-Unit Storefront
For Sale
$674,950
1601 N Chester Avenue, Bakersfield, CA 93308
C-2 zoning and existing salon improvements support immediate commercial occupancy.
Property Size3,831 SF
Price / SF$176.18
Days on Market252
Property Features for 1601 N Chester Avenue
General Information
Standard status
Active
Size
3,831 SF
Property subtype
General Commercial
Zoning
C-2
Amenities
3
Building Details
Year Built
1937
Buildings
1
Tenancy
Multi
Listing Agency:
Wayside, Realtors- Miramar Realty
(661) 699-2753
Listed By:
Kyle Lawson · License #02026857
(661) 699-2753
Source:
Xome
Added: Dec 21, 2025
Changed: Aug 29
Last Checked: Aug 29 at 4:03PM
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 Wayside, Realtors- Miramar Realty
Investment Insights
Based on property information with market context.
Located at 1601 N Chester Avenue in Bakersfield, this 3,831-square-foot storefront property was built in 1937 and is divided into two separate units. The building previously operated as a bank and was later configured for salon use, with dedicated areas for hair, nail, pedicure, and styling services.
Furniture and equipment may remain with the property, offering an existing setup for continued salon operations. The second unit provides additional commercial space for a separate business or an owner-user configuration. C-2 zoning supports the property's commercial positioning.
Furniture and equipment may remain with the property, offering an existing setup for continued salon operations. The second unit provides additional commercial space for a separate business or an owner-user configuration. C-2 zoning supports the property's commercial positioning.
Key Highlights
- 3,831‑square‑foot commercial building constructed in 1937
- Two separately partitioned units within the building
- Existing salon setup with hair, nail, pedicure, and styling stations
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
$36,686
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
5.44%
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%
$733,720
$733.7K
Cap Rate 7%
$524,086
$524.1K
Cap Rate 9%
$407,622
$407.6K
Market Conditions
NOI Build-Up for 3,831 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
$55.2K $14.40/SF
− Vacancy
−$2.8K −$0.72/SF
EGI
$52.4K $13.68/SF
− OpEx
−$15.7K −$4.10/SF
NOI
$36.7K $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%
$733,720
Cap Rate 7%
$524,086
Cap Rate 9%
$407,622
Alternative Uses
Best Use
Retail
$524.1K
$458.6K – $611.4K
NOI $36,686 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$889.6K – $1.19M
NOI $71,165 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
10k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Dining 14%
Electronics 10%
Mobil
Shops & Services
7,844 visits/mo
0.5 miles
Domino's Pizza
Dining
1,471 visits/mo
0.3 miles
Metro by T-Mobile
Electronics
1,003 visits/mo
0.4 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kim's Flowers & Gift shop in Bakersfield — 403 N Chester Ave, Bakersfield, CA 93308
Frequently Asked Questions
What type of property is this?
Storefront property - C-2 zoning and existing salon improvements support immediate commercial occupancy.
Where is this storefront property located?
The property is located at 1601 N Chester Avenue Bakersfield, CA.
What is the asking price?
The asking price for this property is $674,950.
What are key features of this property?
This property features: 3,831‑square‑foot commercial building constructed in 1937; Two separately partitioned units within the building; Existing salon setup with hair, nail, pedicure, and styling stations
