Leased Medical Office
For Sale
Contact for pricing
215 China Grade Loop, Bakersfield, CA 93308
Two suites carry five-year leases, with recent flooring, paint, window, and HVAC updates.
Property Size4,388 SF
Lot Size0.20 Acres
Price / SF$188.01
Days on Market49
Property Features for 215 China Grade Loop
General Information
Standard status
Active
Size
4,388 SF
Class
C
Total Parking Spaces
13
Lot size
0.20 Acres
Property subtype
Office
Zoning
C-2
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$56,325
Building Details
Year Built
1954
Year Renovated
1984
Buildings
1
Units
2
Tenancy
Multi
Building Size
4,388 SF
Listing Agency:
CENTURY 21 Jordan-Link & Company Bakersfield
(661) 747-6175
Listed By:
Craig Hummel · License #01849544
Source:
Crexi
Added: Jul 14
Changed: Aug 30
Last Checked: Aug 30 at 7:51PM
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 CENTURY 21 Jordan-Link & Company Bakersfield
Investment Insights
Based on property information with market context.
This medical office property contains 4,388 square feet on an 8,712 square foot lot and was built in 1954. The building is fully leased to two medical tenants under five-year agreements, including one NNN lease and one Modified Gross lease. Each agreement provides for 3% annual rent increases.
Recent work includes select window replacements, several HVAC unit replacements, and new flooring and paint in Suite B. The property is zoned C-2 and is located at 215 China Grade Loop in Bakersfield, near Starbucks, Dollar General, AutoZone, and Chase Bank. The surrounding trade area includes more than 63,000 people within 3 miles and more than 168,000 within 5 miles.
Recent work includes select window replacements, several HVAC unit replacements, and new flooring and paint in Suite B. The property is zoned C-2 and is located at 215 China Grade Loop in Bakersfield, near Starbucks, Dollar General, AutoZone, and Chase Bank. The surrounding trade area includes more than 63,000 people within 3 miles and more than 168,000 within 5 miles.
Key Highlights
- Fully leased medical office with two tenants and 5‑year lease contracts
- 4,388 square feet on an 8,712 square foot lot
- 3% annual rent increases built into both leases
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
$58,448
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
7.08%
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%
$1,168,960
$1.2M
Cap Rate 7%
$834,971
$835.0K
Cap Rate 9%
$649,422
$649.4K
Market Conditions
NOI Build-Up for 4,388 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
$105.3K $24.00/SF
− Vacancy
−$7.9K −$1.80/SF
EGI
$97.4K $22.20/SF
− OpEx
−$39.0K −$8.88/SF
NOI
$58.4K $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%
$1,168,960
Cap Rate 7%
$834,971
Cap Rate 9%
$649,422
Alternative Uses
Best Use
Healthcare Medical
$835.0K
$730.6K – $974.1K
NOI $58,448 @ 7.0% cap · market cap 7.08%
Second Best
Office B
$829.3K
$725.7K – $967.6K
NOI $58,053 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,511 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
Under-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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- North of the River Pet Resort — 207 China Grade Loop, Bakersfield, CA 93308
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two suites carry five-year leases, with recent flooring, paint, window, and HVAC updates.
Where is this medical office space located?
The property is located at 215 China Grade Loop Bakersfield, CA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Fully leased medical office with two tenants and 5‑year lease contracts; 4,388 square feet on an 8,712 square foot lot; 3% annual rent increases built into both leases
