Turnkey Freestanding Medical Office
For Sale
Contact for pricing
1711 28th St, Bakersfield, CA 93301
Turnkey freestanding medical office with 16 exam rooms, 6 ADA restrooms, and on-site parking in downtown Bakersfield.
Property Size4,802 SF
Price / SF$196.79
Days on Market762
Property Features for 1711 28th St
General Information
Standard status
Active
Size
4,802 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Listing Agency:
ASU Commercial
(661) 885-6949
Listed By:
Dylan J. Lym · License #02103385
(661) 862-5454
Source:
Moodyscre
Added: Aug 16, 2024
Changed: Sep 10
Last Checked: Sep 15 at 9:32AM
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.
Turnkey freestanding medical office building offering a practical, patient-ready layout with sixteen (16) exam rooms and six (6) ADA restrooms. Recent interior upgrades support immediate occupancy, with an efficient plan designed for exam room flow.
The property is located in downtown Bakersfield within walking distance of Adventist Health’s downtown hospital campus. Additional nearby uses include other regional medical providers, restaurants, and government offices, with convenient access to Highway 178, Highway 99, and the Westside Parkway.
On-site parking is available through the Westchester Parking Association, with additional street parking to support visitors and staff.
The property is located in downtown Bakersfield within walking distance of Adventist Health’s downtown hospital campus. Additional nearby uses include other regional medical providers, restaurants, and government offices, with convenient access to Highway 178, Highway 99, and the Westside Parkway.
On-site parking is available through the Westchester Parking Association, with additional street parking to support visitors and staff.
Key Highlights
- 4,802 SF turnkey freestanding medical office building
- 16 exam rooms with an efficient patient‑ready layout
- Six (6) ADA restrooms
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
$63,963
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
6.77%
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%
$1,279,260
$1.3M
Cap Rate 7%
$913,757
$913.8K
Cap Rate 9%
$710,700
$710.7K
Market Conditions
NOI Build-Up for 4,802 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
$115.2K $24.00/SF
− Vacancy
−$8.6K −$1.80/SF
EGI
$106.6K $22.20/SF
− OpEx
−$42.6K −$8.88/SF
NOI
$64.0K $13.32/SF
Area
Bakersfield, CA
Vacancy
7.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,279,260
Cap Rate 7%
$913,757
Cap Rate 9%
$710,700
Alternative Uses
Best Use
Healthcare Medical
$913.8K
$799.5K – $1.07M
NOI $63,963 @ 7.0% cap · market cap 6.77%
Second Best
Office B
$907.6K
$794.1K – $1.06M
NOI $63,530 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$1.27M
$1.12M – $1.49M
NOI $89,202 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,199
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
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
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Similar Off Market Nearby
- Bakersfield Vet Center — 1110 Golden State Ave, Bakersfield, CA 93301
Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey freestanding medical office with 16 exam rooms, 6 ADA restrooms, and on-site parking in downtown Bakersfield.
Where is this medical office space located?
The property is located at 1711 28th St Bakersfield, CA.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: 4,802 SF turnkey freestanding medical office building; 16 exam rooms with an efficient patient‑ready layout; Six (6) ADA restrooms
