Strip Retail Center For
For Sale
Contact for pricing
3412 Ming Avenue, Bakersfield, CA 93309
Retail strip center available for sale in Bakersfield, suited for operators seeking storefront-oriented leasing.
Property Size83,998 SF
Price / SF$196.02
Days on Market113
Property Features for 3412 Ming Avenue
General Information
Standard status
Active
Size
83,998 SF
Property subtype
Retail
Occupancy
87%
Lease Type
NNN
Net Operating Income
$1,192,827
Building Details
Year Built
1982
Tenancy
Multi
Listing Agency:
ASU Commercial
Listed By:
Scott Underhill · License #CA 00785728
(661) 706-9312
Source:
Crexi
Added: Jun 4
Changed: Sep 15
Last Checked: Sep 22 at 5:10PM
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 property is a strip mall-style shopping center offering storefront space for commercial uses. The offering is being marketed as a shopping center/retail property and includes commercial real estate accommodations consistent with storefront leasing. The property size is listed at 83,998 square feet, providing a defined footprint for a range of retail or service tenants.
The center is located at 3412 Ming Avenue in Bakersfield, California 93309. The information provided for this listing references a full offering memorandum for additional details on the property and presentation materials.
For buyers or tenants evaluating potential space requirements, this is a straightforward retail asset designed around storefront configuration within a strip retail environment. Prospective users can review the offering materials to understand the specific unit mix, layout, and leasing considerations that would impact operating needs. As with any acquisition or tenancy decision, due diligence through the memorandum is recommended to confirm the exact tenant-ready features, current configuration, and financial or operational details associated with the property.
The center is located at 3412 Ming Avenue in Bakersfield, California 93309. The information provided for this listing references a full offering memorandum for additional details on the property and presentation materials.
For buyers or tenants evaluating potential space requirements, this is a straightforward retail asset designed around storefront configuration within a strip retail environment. Prospective users can review the offering materials to understand the specific unit mix, layout, and leasing considerations that would impact operating needs. As with any acquisition or tenancy decision, due diligence through the memorandum is recommended to confirm the exact tenant-ready features, current configuration, and financial or operational details associated with the property.
Key Highlights
- Retail strip center for sale in Bakersfield
- Year built: 1982
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
$804,365
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
4.89%
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%
$16,087,300
$16.1M
Cap Rate 7%
$11,490,929
$11.5M
Cap Rate 9%
$8,937,389
$8.9M
Market Conditions
NOI Build-Up for 83,998 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
$1.21M $14.40/SF
− Vacancy
−$60.5K −$0.72/SF
EGI
$1.15M $13.68/SF
− OpEx
−$344.7K −$4.10/SF
NOI
$804.4K $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%
$16,087,300
Cap Rate 7%
$11,490,929
Cap Rate 9%
$8,937,389
Alternative Uses
Best Use
Retail
$11.49M
$10.05M – $13.41M
NOI $804,365 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$22.29M
$19.50M – $26.01M
NOI $1,560,347 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
801k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 33%
Superstores 21%
Apparel 17%
Dining 17%
Target
Superstores
165,788 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
49,722 visits/mo
0.5 miles
T.J. Maxx
Apparel
44,183 visits/mo
0.0 miles
Marshalls
Apparel
41,371 visits/mo
0.3 miles
dd's DISCOUNTS
Shops & Services
38,585 visits/mo
0.3 miles
Demographics for 93309, CA
61,079
Population
23,546
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
83%
High-School Grad
10.5 sq mi
ZIP Area
5,817
Density / Sq Mi
$62,143
Median Household Income
$36,281
Median Earnings
$1,268
Median Rent
$286,600
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 strip center available for sale in Bakersfield, suited for operators seeking storefront-oriented leasing.
Where is this shopping center located?
The property is located at 3412 Ming Avenue Bakersfield, CA.
What is the asking price?
The asking price for this property is $16,465,000.
What are key features of this property?
This property features: Retail strip center for sale in Bakersfield; Year built: 1982
