C-2 Retail
New
For Sale
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2300 Eye Street, Bakersfield, CA 93301
Retail property with an adjoining lot and C-2 zoning along a heavily traveled commercial corridor.
Property Size11,224 SF
Price / SF$133.64
Days on Market6
Property Features for 2300 Eye Street
General Information
Standard status
Active
Size
11,224 SF
Property subtype
Retail
Zoning
C-2
Site & Location
Traffic Count
20,000 vehicles/day
Road Access
Yes
Additional Details
Land Use
commercial, retail
Listing Agency:
Central Valley Commercial Brokers
(661) 404-4090
Listed By:
Marcus Duarte · License #CA 01972531
Source:
Crexi
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 8:29AM
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 Central Valley Commercial Brokers
Investment Insights
Based on property information with market context.
The property includes an 11,224-square-foot retail building together with an adjacent 7,840-square-foot lot. C-2 zoning supports the site’s identified retail and commercial development potential.
Positioned at 2300 Eye Street in Bakersfield, the property benefits from exposure to a corridor carrying 20,000 vehicles per day on 23rd Street. The building and adjoining parcel provide a combination of existing improvements and additional land within the same commercial offering.
Positioned at 2300 Eye Street in Bakersfield, the property benefits from exposure to a corridor carrying 20,000 vehicles per day on 23rd Street. The building and adjoining parcel provide a combination of existing improvements and additional land within the same commercial offering.
Key Highlights
- 11,224‑square‑foot retail building
- Adjacent 7,840‑square‑foot lot
- C‑2 zoning
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
$107,481
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
7.17%
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%
$2,149,620
$2.1M
Cap Rate 7%
$1,535,443
$1.5M
Cap Rate 9%
$1,194,233
$1.2M
Market Conditions
NOI Build-Up for 11,224 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
$161.6K $14.40/SF
− Vacancy
−$8.1K −$0.72/SF
EGI
$153.5K $13.68/SF
− OpEx
−$46.1K −$4.10/SF
NOI
$107.5K $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%
$2,149,620
Cap Rate 7%
$1,535,443
Cap Rate 9%
$1,194,233
Alternative Uses
Best Use
Retail
$1.54M
$1.34M – $1.79M
NOI $107,481 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.98M
$2.61M – $3.47M
NOI $208,497 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,406
Businesses Nearby
208k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 45%
McDonald's
Dining
35,524 visits/mo
0.3 miles
Wells Fargo
Shops & Services
20,182 visits/mo
0.2 miles
Mister Car Wash
Shops & Services
19,190 visits/mo
0.1 miles
Starbucks
Dining
17,863 visits/mo
0.1 miles
Chevron
Shops & Services
16,316 visits/mo
0.2 miles
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 Retail in Bakersfield, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail property with an adjoining lot and C-2 zoning along a heavily traveled commercial corridor.
Where is this retail space located?
The property is located at 2300 Eye Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 11,224‑square‑foot retail building; Adjacent 7,840‑square‑foot lot; C‑2 zoning
