Remodeled Flex Space on
For Sale
$3,650,000
2756 Unicorn Rd, Bakersfield, CA 93308
Newly remodeled office and warehouse space is available for immediate occupancy by an owner-user.
Property Size11,799 SF
Lot Size1.99 Acres
Price / SF$309.35
Days on Market38
Property Features for 2756 Unicorn Rd
General Information
Standard status
Active
Size
11,799 SF
Lot size
1.99 Acres
Property subtype
Industrial
Zoning
M-2
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Building Size
11,799 SF
Listing Agency:
Bakersfield
(661) 631-3819
Listed By:
Oscar Baltazar · License #BRE 01263421
(661) 631-3819
Source:
Colliers
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 29 at 3:18PM
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 Bakersfield
Investment Insights
Based on property information with market context.
This flex property combines office and warehouse improvements within a single 11,799-square-foot building. The facility has been newly remodeled and is available for occupancy, providing an owner-user with a dedicated commercial setting on approximately 1.99 acres. The land carries M-2 zoning.
The property is positioned at the northeast corner of Unicorn Road and Pegasus Drive, just south of Seventh Standard Road and Merle Haggard Drive. Freeway 99 and Highway 65 are located to the west, placing the building within the Airport submarket of Bakersfield.
The property is positioned at the northeast corner of Unicorn Road and Pegasus Drive, just south of Seventh Standard Road and Merle Haggard Drive. Freeway 99 and Highway 65 are located to the west, placing the building within the Airport submarket of Bakersfield.
Key Highlights
- 11,799 SF office/warehouse building
- Approximately 1.99 acres of M‑2 zoned land
- Newly remodeled improvements ready for occupancy
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
$156,101
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
4.28%
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%
$3,122,020
$3.1M
Cap Rate 7%
$2,230,014
$2.2M
Cap Rate 9%
$1,734,456
$1.7M
Market Conditions
NOI Build-Up for 11,799 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
$247.8K $21.00/SF
− Vacancy
−$39.6K −$3.36/SF
EGI
$208.1K $17.64/SF
− OpEx
−$52.0K −$4.41/SF
NOI
$156.1K $13.23/SF
Area
Bakersfield, CA
Vacancy
16.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$3,122,020
Cap Rate 7%
$2,230,014
Cap Rate 9%
$1,734,456
Alternative Uses
Best Use
Office B
$2.23M
$1.95M – $2.60M
NOI $156,101 @ 7.0% cap · market cap 4.28%
Second Best
Warehouse
$2.09M
$1.83M – $2.44M
NOI $146,285 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$3.13M
$2.74M – $3.65M
NOI $219,178 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93308, CA
56,037
Population
21,443
Households
2.6
Avg Household Size
35
Median Age
18%
College-Educated
84%
High-School Grad
344.6 sq mi
ZIP Area
163
Density / Sq Mi
$59,511
Median Household Income
$39,676
Median Earnings
$1,260
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Newly remodeled office and warehouse space is available for immediate occupancy by an owner-user.
Where is this flex space located?
The property is located at 2756 Unicorn Rd Bakersfield, CA.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: 11,799 SF office/warehouse building; Approximately 1.99 acres of M‑2 zoned land; Newly remodeled improvements ready for occupancy
