Storefront Building with Paved
For Sale
$875,000
2332 Eye Street, Bakersfield, CA 93301
Retail-oriented building with a paved lot, on-site parking, and additional street parking in central Bakersfield.
Property Size3,198 SF
Price / SF$273.61
Days on Market327
Property Features for 2332 Eye Street
General Information
Standard status
Active
Size
3,198 SF
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Amenities
3
Building Details
Year Built
1953
Listing Agency:
ASU Commercial
(661) 862-5454
Listed By:
Dylan Lym · License #02103385
Source:
Xome
Added: Oct 9, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:11PM
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 storefront property at 2332 Eye Street offers a 3,198-square-foot commercial building constructed in 1953. The site includes a fully paved lot, on-site parking, and street parking, supporting retail and other storefront-oriented uses.
The property is in Downtown Bakersfield, with signage exposure to more than 32,000 cars daily. It has direct access to major highways and is near hospitals, restaurants, government offices, and established corporate neighbors. The surrounding context places the building within a concentrated commercial and civic area.
The property is in Downtown Bakersfield, with signage exposure to more than 32,000 cars daily. It has direct access to major highways and is near hospitals, restaurants, government offices, and established corporate neighbors. The surrounding context places the building within a concentrated commercial and civic area.
Key Highlights
- 3,198‑square‑foot storefront property at 2332 Eye Street
- Built in 1953
- Fully paved lot with on‑site and street 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
$30,624
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
3.50%
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%
$612,480
$612.5K
Cap Rate 7%
$437,486
$437.5K
Cap Rate 9%
$340,267
$340.3K
Market Conditions
NOI Build-Up for 3,198 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
$46.1K $14.40/SF
− Vacancy
−$2.3K −$0.72/SF
EGI
$43.7K $13.68/SF
− OpEx
−$13.1K −$4.10/SF
NOI
$30.6K $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%
$612,480
Cap Rate 7%
$437,486
Cap Rate 9%
$340,267
Alternative Uses
Best Use
Retail
$437.5K
$382.8K – $510.4K
NOI $30,624 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$848.7K
$742.6K – $990.1K
NOI $59,406 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,406
Businesses Nearby
208k
Monthly Visits Nearby
Well-served
Demand for This Use
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?
Storefront property - Retail-oriented building with a paved lot, on-site parking, and additional street parking in central Bakersfield.
Where is this storefront property located?
The property is located at 2332 Eye Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 3,198‑square‑foot storefront property at 2332 Eye Street; Built in 1953; Fully paved lot with on‑site and street parking
