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3015 Calloway Drive Suite 14, Bakersfield, CA 93312
Dental suite within a mixed-use development surrounded by medical, professional office, and retail users.
Property Size1,490 SF
Price / SF$479.87
Days on Market6
Property Features for 3015 Calloway Drive Suite 14
General Information
Standard status
Active
Size
1,490 SF
Class
B
Total Parking Spaces
202
Property subtype
Office
Zoning
C-2, City of Bakersfield
Investment Type
Owner/User
Building Details
Year Built
2008
Units
1
Listing Agency:
ASU Commercial
Listed By:
Martin Starr · License #CA 01179469
(661) 616-3567
Source:
Crexi
Added: Aug 28
Changed: Sep 1
Last Checked: Sep 1 at 10:42PM
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 professional medical office suite is configured for dental use and is located within The Grove at Riverlakes, a mixed-use office and medical development. The property carries C-2 zoning under the City of Bakersfield and was built in 2008.
The suite is positioned at 3015 Calloway Drive, Suite 14, in Bakersfield, California. The surrounding development includes medical practices, professional offices, and retail businesses, creating an established commercial setting for office and healthcare operations. Its location within a professionally oriented project provides access to nearby business and retail amenities.
The suite is positioned at 3015 Calloway Drive, Suite 14, in Bakersfield, California. The surrounding development includes medical practices, professional offices, and retail businesses, creating an established commercial setting for office and healthcare operations. Its location within a professionally oriented project provides access to nearby business and retail amenities.
Key Highlights
- Medical office suite configured for dental use
- C‑2 zoning under the City of Bakersfield
- Built in 2008
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
$20,759
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
2.90%
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%
$415,180
$415.2K
Cap Rate 7%
$296,557
$296.6K
Cap Rate 9%
$230,656
$230.7K
Market Conditions
NOI Build-Up for 1,490 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
$32.2K $21.60/SF
− Vacancy
−$4.5K −$3.02/SF
EGI
$27.7K $18.58/SF
− OpEx
−$6.9K −$4.64/SF
NOI
$20.8K $13.93/SF
Area
ZIP 93312
Vacancy
14.00%
Lease Rate
$21.60 /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%
$415,180
Cap Rate 7%
$296,557
Cap Rate 9%
$230,656
Alternative Uses
Best Use
Office B
$296.6K
$259.5K – $346.0K
NOI $20,759 @ 7.0% cap · market cap 2.90%
Second Best
Healthcare Medical
$288.1K
$252.1K – $336.2K
NOI $20,169 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$386.6K
$338.3K – $451.1K
NOI $27,063 @ 7.0% cap · market cap 3.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Dental suite within a mixed-use development surrounded by medical, professional office, and retail users.
Where is this medical office space located?
The property is located at 3015 Calloway Drive Suite 14 Bakersfield, CA.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Medical office suite configured for dental use; C‑2 zoning under the City of Bakersfield; Built in 2008
