Medical Office Space with
For Sale
Contact for pricing
3130 Union Avenue, Bakersfield, CA
C-2-zoned medical property currently leased through June 30, 2027.
Property Size2,141 SF
Price / SF$235.87
Days on Market45
Property Features for 3130 Union Avenue
General Information
Standard status
Active
Size
2,141 SF
Total Parking Spaces
11
Property subtype
Office
Zoning
C-2
Investment Type
Owner/User
Building Details
Year Built
1945
Year Renovated
2024
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
ASU Commercial
Listed By:
Martin Starr · License #CA 01179469
(661) 616-3567
Source:
Crexi
Added: Jul 31
Changed: Sep 8
Last Checked: Sep 12 at 4:33AM
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 2,141-square-foot medical office property was built in 1945 and previously operated as a pediatric dental office. The existing layout is suited to medical use and can be converted to general office space. C-2 zoning supports medical and professional office applications.
The property is located at 3130 Union Avenue in Bakersfield, near downtown, with signage along Union Avenue. On-site parking includes 11 stalls, supplemented by street parking. The current lease runs through June 30, 2027, providing near-term occupancy under the existing tenancy before potential owner occupancy after expiration.
The property is located at 3130 Union Avenue in Bakersfield, near downtown, with signage along Union Avenue. On-site parking includes 11 stalls, supplemented by street parking. The current lease runs through June 30, 2027, providing near-term occupancy under the existing tenancy before potential owner occupancy after expiration.
Key Highlights
- 2,141‑square‑foot medical office property
- Previously operated as a pediatric dental office
- C‑2 zoning supports medical and professional office uses
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
$28,518
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
5.65%
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%
$570,360
$570.4K
Cap Rate 7%
$407,400
$407.4K
Cap Rate 9%
$316,867
$316.9K
Market Conditions
NOI Build-Up for 2,141 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
$51.4K $24.00/SF
− Vacancy
−$3.9K −$1.80/SF
EGI
$47.5K $22.20/SF
− OpEx
−$19.0K −$8.88/SF
NOI
$28.5K $13.32/SF
Area
Bakersfield, CA
Vacancy
7.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$570,360
Cap Rate 7%
$407,400
Cap Rate 9%
$316,867
Alternative Uses
Best Use
Healthcare Medical
$407.4K
$356.5K – $475.3K
NOI $28,518 @ 7.0% cap · market cap 5.65%
Second Best
Office B
$404.6K
$354.1K – $472.1K
NOI $28,325 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$568.2K
$497.1K – $662.9K
NOI $39,771 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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?
Medical Office Space - C-2-zoned medical property currently leased through June 30, 2027.
Where is this medical office space located?
The property is located at 3130 Union Avenue Bakersfield, CA.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: 2,141‑square‑foot medical office property; Previously operated as a pediatric dental office; C‑2 zoning supports medical and professional office uses
