Flex Space with Warehouse and
For Sale
$549,900
2222 S Chester Avenue, Bakersfield, CA 93301
Two retail suites plus an aluminum warehouse on a lot with ample parking and additional included parcels for expansion options.
Property Size3,677 SF
Lot Size0.59 Acres
Price / SF$149.55
Days on Market85
Property Features for 2222 S Chester Avenue
General Information
Standard status
Active
Size
3,677 SF
Lot size
0.59 Acres
Property subtype
Land
Building Details
Tenancy
Multi
Listing Agency:
Coldwell Banker Preferred, REALTORS
(661) 889-2933
Listed By:
Antonio Gonzalez
(661) 889-2933
Source:
Exprealty
Added: Jun 1
Changed: Aug 23
Last Checked: Aug 21 at 8:09PM
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 Coldwell Banker Preferred, REALTORS
Investment Insights
Based on property information with market context.
The property at 2222 S Chester Ave is a mixed-use flex configuration featuring a 2,400 SF commercial building with two retail suites. In addition to the retail space, the offering includes a 1,277 SF aluminum warehouse suited for storage and operations or for possible separate use. The main site sits on a 25,700 SF lot with ample parking.
The sale also includes a separate commercial vacant lot measuring approximately 9,147 SF. Three additional R-1 residential lots are included as well: Lot 1 (15,028 SF), Lot 2 (7,405 SF), and Lot 3 (6,968 SF). This bundle of parcels provides added flexibility for an owner-operator or investor planning future development and portfolio diversification.
For tenants or owner-users, the layout supports businesses that want retail frontage with on-site warehouse capability for back-of-house needs. For investors, the combination of two retail suites, an independent warehouse structure, and included vacant and residential parcels can support multiple holding and utilization strategies, subject to applicable terms and approvals.
The sale also includes a separate commercial vacant lot measuring approximately 9,147 SF. Three additional R-1 residential lots are included as well: Lot 1 (15,028 SF), Lot 2 (7,405 SF), and Lot 3 (6,968 SF). This bundle of parcels provides added flexibility for an owner-operator or investor planning future development and portfolio diversification.
For tenants or owner-users, the layout supports businesses that want retail frontage with on-site warehouse capability for back-of-house needs. For investors, the combination of two retail suites, an independent warehouse structure, and included vacant and residential parcels can support multiple holding and utilization strategies, subject to applicable terms and approvals.
Key Highlights
- 2,400 SF commercial building with two retail suites for flexible business use
- 1,277 SF aluminum warehouse included for storage and operations
- 25,700 SF lot with ample parking
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
$45,588
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
8.29%
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%
$911,760
$911.8K
Cap Rate 7%
$651,257
$651.3K
Cap Rate 9%
$506,533
$506.5K
Market Conditions
NOI Build-Up for 3,677 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
$57.4K $15.60/SF
− Vacancy
−$3.7K −$1.01/SF
EGI
$53.6K $14.59/SF
− OpEx
−$8.0K −$2.19/SF
NOI
$45.6K $12.40/SF
Area
Bakersfield, CA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
15.00%
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%
$911,760
Cap Rate 7%
$651,257
Cap Rate 9%
$506,533
Alternative Uses
Best Use
Warehouse
$651.3K
$569.9K – $759.8K
NOI $45,588 @ 7.0% cap · market cap 8.29%
Second Best
Industrial
$536.3K
$469.3K – $625.7K
NOI $37,543 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$975.8K
$853.8K – $1.14M
NOI $68,304 @ 7.0% cap · market cap 12.42%
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
515
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two retail suites plus an aluminum warehouse on a lot with ample parking and additional included parcels for expansion options.
Where is this flex space located?
The property is located at 2222 S Chester Avenue Bakersfield, CA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 2,400 SF commercial building with two retail suites for flexible business use; 1,277 SF aluminum warehouse included for storage and operations; 25,700 SF lot with ample parking
