Flex Space with Solar
For Sale
Contact for pricing
2305 Chester Avenue, Bakersfield, CA 93301
Two separate buildings combine storefront, shop, and warehouse functions under C2 zoning along a commercial corridor.
Property Size9,150 SF
Price / SF$112.02
Days on Market24
Property Features for 2305 Chester Avenue
General Information
Standard status
Active
Size
9,150 SF
Property subtype
Retail
Zoning
C2
Warehouse & Industrial
Power
200 amps
Voltage
220 V
Building Details
Year Built
1929
Buildings
2
Stories
1
Units
2
Listing Agency:
Watson Realty
(661) 859-5762
Listed By:
Carlos Padilla · License #01487576
Source:
Crexi
Added: Jul 30
Changed: Aug 14
Last Checked: Aug 22 at 2:16PM
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 Watson Realty
Investment Insights
Based on property information with market context.
This flex-space property comprises approximately 9,150 square feet in two separate buildings. The configuration includes a retail storefront and a shop/warehouse structure, creating physical separation between customer-facing and service-oriented areas. A 79-panel, fully paid solar system and 200-amp, 220-volt electrical service are existing improvements. The property was built in 1929 and is zoned C2.
Located at 2305 Chester Avenue in Bakersfield, the asset fronts a major commercial corridor with strong street exposure. Its central Bakersfield setting and multi-building layout support a range of commercial occupancy configurations, including retail, restaurant, café, and office uses identified in the property information.
Located at 2305 Chester Avenue in Bakersfield, the asset fronts a major commercial corridor with strong street exposure. Its central Bakersfield setting and multi-building layout support a range of commercial occupancy configurations, including retail, restaurant, café, and office uses identified in the property information.
Key Highlights
- Approximately 9,150 square feet across two separate buildings
- 79‑panel, fully paid solar system
- 200‑amp, 220‑volt electrical service
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
$93,423
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
9.11%
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%
$1,868,460
$1.9M
Cap Rate 7%
$1,334,614
$1.3M
Cap Rate 9%
$1,038,033
$1.0M
Market Conditions
NOI Build-Up for 9,150 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
$142.7K $15.60/SF
− Vacancy
−$9.3K −$1.01/SF
EGI
$133.5K $14.59/SF
− OpEx
−$40.0K −$4.38/SF
NOI
$93.4K $10.21/SF
Area
Bakersfield, CA
Vacancy
6.50%
Lease Rate
$15.60 /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%
$1,868,460
Cap Rate 7%
$1,334,614
Cap Rate 9%
$1,038,033
Alternative Uses
Best Use
Warehouse
$1.62M
$1.42M – $1.89M
NOI $113,443 @ 7.0% cap · market cap 11.07%
Second Best
Industrial
$1.33M
$1.17M – $1.56M
NOI $93,423 @ 7.0% cap · market cap 9.11%
Theoretical Best
Office A
$2.43M
$2.12M – $2.83M
NOI $169,970 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,406
Businesses Nearby
Balanced
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 separate buildings combine storefront, shop, and warehouse functions under C2 zoning along a commercial corridor.
Where is this flex space located?
The property is located at 2305 Chester Avenue Bakersfield, CA.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Approximately 9,150 square feet across two separate buildings; 79‑panel, fully paid solar system; 200‑amp, 220‑volt electrical service
