Industrial Warehouse in Bakersfield
For Sale
Contact for pricing
2331 Cepheus Ct, Bakersfield, CA
9,305 SF warehouse with easy highway access and fenced yard.
Property Size9,305 SF
Lot Size0.97 Acres
Price / SF$175
Days on Market364
Property Features for 2331 Cepheus Ct
General Information
Standard status
Active
Size
9,305 SF
Lot size
0.97 Acres
Property subtype
INDUSTRIAL
Listing Agency:
ASU Commercial
(661) 885-6949
Listed By:
Wesley M. McDonald
(661) 885-6950
Source:
Moodyscre
Added: Sep 16, 2025
Changed: Aug 15
Last Checked: Sep 13 at 10:34AM
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 ASU Commercial
Investment Insights
Based on property information with market context.
This 9,305 square foot industrial property is situated on 0.96 acres within the Bakersfield Airport Business Center. The property is zoned M-2 PD (Medium Industrial) by the County of Kern. It features a fully paved and fenced yard area. The location provides convenient access to both northbound and southbound Highway 99.
Key Highlights
- 9,305 SF on 0.96 Acres
- Zoned M‑2 PD (Medium Industrial) County of Kern
- Located in the Bakersfield Airport Business Center
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
$115,364
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%
$2,307,280
$2.3M
Cap Rate 7%
$1,648,057
$1.6M
Cap Rate 9%
$1,281,822
$1.3M
Market Conditions
NOI Build-Up for 9,305 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
$145.2K $15.60/SF
− Vacancy
−$9.4K −$1.01/SF
EGI
$135.7K $14.59/SF
− OpEx
−$20.4K −$2.19/SF
NOI
$115.4K $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%
$2,307,280
Cap Rate 7%
$1,648,057
Cap Rate 9%
$1,281,822
Alternative Uses
Best Use
Warehouse
$1.65M
$1.44M – $1.92M
NOI $115,364 @ 7.0% cap · market cap 7.08%
Second Best
Industrial
$1.36M
$1.19M – $1.58M
NOI $95,006 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,850 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Warehouse - 9,305 SF warehouse with easy highway access and fenced yard.
Where is this warehouse located?
The property is located at 2331 Cepheus Ct Bakersfield, CA.
What is the asking price?
The asking price for this property is $1,628,375.
What are key features of this property?
This property features: 9,305 SF on 0.96 Acres; Zoned M‑2 PD (Medium Industrial) County of Kern; Located in the Bakersfield Airport Business Center
