Multi-Building Mixed-Use
For Sale
$5,500,000
1817 Truxtun Ave, Bakersfield, CA 93301
Four-building commercial portfolio with office, medical, and mixed-use applications plus an accompanying parking lot.
Property Size11,760 SF
Price / SF$467.69
Days on Market41
Property Features for 1817 Truxtun Ave
General Information
Standard status
Active
Size
11,760 SF
Building Details
Buildings
4
Listing Agency:
Miramar International Calloway
(661) 322-7000
Listed By:
Tony Ayon
(661) 322-7000
Source:
Exprealty
Added: Jul 1
Changed: Aug 10
Last Checked: Aug 10 at 2:22AM
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 Miramar International Calloway
Investment Insights
Based on property information with market context.
This mixed-use portfolio comprises four buildings and an associated parking lot, with more than 21,400 square feet of combined space. The properties support medical, office, and other mixed-use applications, providing a varied commercial configuration across the portfolio.
The holdings include 1601-1605 G St. and 1818 16th St., with the portfolio located in downtown Bakersfield. Most of the buildings are currently leased, adding existing occupancy to the asset profile.
The holdings include 1601-1605 G St. and 1818 16th St., with the portfolio located in downtown Bakersfield. Most of the buildings are currently leased, adding existing occupancy to the asset profile.
Key Highlights
- Four‑building portfolio with an additional parking lot
- More than 21,400 square feet of combined space
- Medical, office, and mixed‑use applications supported
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
$156,643
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
2.85%
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%
$3,132,860
$3.1M
Cap Rate 7%
$2,237,757
$2.2M
Cap Rate 9%
$1,740,478
$1.7M
Market Conditions
NOI Build-Up for 11,760 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
$282.2K $24.00/SF
− Vacancy
−$21.2K −$1.80/SF
EGI
$261.1K $22.20/SF
− OpEx
−$104.4K −$8.88/SF
NOI
$156.6K $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%
$3,132,860
Cap Rate 7%
$2,237,757
Cap Rate 9%
$1,740,478
Alternative Uses
Best Use
Healthcare Medical
$2.24M
$1.96M – $2.61M
NOI $156,643 @ 7.0% cap · market cap 2.85%
Second Best
Office B
$2.22M
$1.94M – $2.59M
NOI $155,585 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$3.12M
$2.73M – $3.64M
NOI $218,454 @ 7.0% cap · market cap 3.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,882
Businesses Nearby
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-building commercial portfolio with office, medical, and mixed-use applications plus an accompanying parking lot.
Where is this mixed-use property located?
The property is located at 1817 Truxtun Ave Bakersfield, CA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Four‑building portfolio with an additional parking lot; More than 21,400 square feet of combined space; Medical, office, and mixed‑use applications supported
