Retail Storefront with Multiple
For Sale
Contact for pricing
3015 Calloway Dr, Bakersfield, CA 93312
Retail storefront on a heavily trafficked Northwest Bakersfield corridor with prominent signage and two separate entries.
Property Size7,880 SF
Price / SF$227.79
Days on Market362
Property Features for 3015 Calloway Dr
General Information
Standard status
Active
Size
7,880 SF
Property subtype
RETAIL
Additional Details
Highway Access
Yes
Amenities
prominent building signage
pylon signage
two separate entries
Listing Agency:
ASU Commercial
(661) 885-6949
Listed By:
Dylan J. Lym · License #02103385
(661) 862-5454
Source:
Moodyscre
Added: Sep 16, 2025
Changed: Sep 10
Last Checked: Sep 11 at 9:42AM
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 retail storefront is positioned along a heavily trafficked retail corridor in Northwest Bakersfield. The property features prominent building signage and pylon signage on Calloway Drive, along with two separate entries and the possibility to be demised.
The site sits immediately west of the Northwest Promenade, described as Bakersfield’s largest shopping center. It also offers easy access to Rosedale Highway and the Westside Parkway, providing convenient routes to other areas of Kern County.
The property is offered for sale as a retail storefront asset within the Shopping centers/Retail properties & Spaces category.
The site sits immediately west of the Northwest Promenade, described as Bakersfield’s largest shopping center. It also offers easy access to Rosedale Highway and the Westside Parkway, providing convenient routes to other areas of Kern County.
The property is offered for sale as a retail storefront asset within the Shopping centers/Retail properties & Spaces category.
Key Highlights
- Retail storefront on a heavily trafficked Northwest Bakersfield retail corridor
- Prominent building signage and pylon signage on Calloway Drive
- Two separate entries, with possibility to demise
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
$95,316
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
5.31%
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%
$1,906,320
$1.9M
Cap Rate 7%
$1,361,657
$1.4M
Cap Rate 9%
$1,059,067
$1.1M
Market Conditions
NOI Build-Up for 7,880 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
$141.8K $18.00/SF
− Vacancy
−$5.7K −$0.72/SF
EGI
$136.2K $17.28/SF
− OpEx
−$40.8K −$5.18/SF
NOI
$95.3K $12.10/SF
Area
ZIP 93312
Vacancy
4.00%
Lease Rate
$18.00 /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%
$1,906,320
Cap Rate 7%
$1,361,657
Cap Rate 9%
$1,059,067
Alternative Uses
Best Use
Retail
$1.36M
$1.19M – $1.59M
NOI $95,316 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.79M – $2.39M
NOI $143,126 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
992k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 28%
Apparel 27%
Superstores 16%
Shops & Services 16%
Target
Superstores
158,970 visits/mo
0.4 miles
Kohl's
Apparel
71,860 visits/mo
0.3 miles
DICK'S Sporting Goods
Apparel
69,446 visits/mo
0.3 miles
Chick-fil-A
Dining
66,460 visits/mo
0.5 miles
Ross Dress for Less
Apparel
52,127 visits/mo
0.5 miles
Demographics for 93312, CA
58,714
Population
19,089
Households
3.1
Avg Household Size
36
Median Age
34%
College-Educated
94%
High-School Grad
14.2 sq mi
ZIP Area
4,135
Density / Sq Mi
$112,654
Median Household Income
$56,041
Median Earnings
$1,958
Median Rent
$420,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Bakersfield, CA
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail storefront on a heavily trafficked Northwest Bakersfield corridor with prominent signage and two separate entries.
Where is this shopping center located?
The property is located at 3015 Calloway Dr Bakersfield, CA.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Retail storefront on a heavily trafficked Northwest Bakersfield retail corridor; Prominent building signage and pylon signage on Calloway Drive; Two separate entries, with possibility to demise
