Freestanding Professional Office
For Sale
$1,100,000
3509 Union Ave, Bakersfield, CA 93305
Dedicated office layout with private rooms, open workspace, and on-site parking.
Property Size3,969 SF
Price / SF$277.15
Days on Market9
Property Features for 3509 Union Ave
General Information
Standard status
Active
Size
3,969 SF
Listing Agency:
True Realty International
Listed By:
Daissy K. Barreto
(661) 671-6497
Source:
Exprealty
Added: Aug 29
Changed: Sep 3
Last Checked: Sep 5 at 10:20AM
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 True Realty International
Investment Insights
Based on property information with market context.
This freestanding office property contains 3,969 square feet arranged for professional operations. The interior includes multiple private offices, open work areas, a conference room, walk-in vault, and break room, creating a mix of enclosed and collaborative spaces. On-site parking and building signage are also available.
Located at 3509 Union Ave in Bakersfield, the property sits north of Downtown Bakersfield and near Memorial Hospital. Its existing configuration is suited to professional, administrative, medical-support, financial, legal, and service-oriented office functions, subject to applicable zoning and approvals.
Located at 3509 Union Ave in Bakersfield, the property sits north of Downtown Bakersfield and near Memorial Hospital. Its existing configuration is suited to professional, administrative, medical-support, financial, legal, and service-oriented office functions, subject to applicable zoning and approvals.
Key Highlights
- 3,969‑square‑foot freestanding office building
- Multiple private offices plus open work areas
- Conference room, walk‑in vault, and break room
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
$52,510
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
4.77%
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%
$1,050,200
$1.1M
Cap Rate 7%
$750,143
$750.1K
Cap Rate 9%
$583,444
$583.4K
Market Conditions
NOI Build-Up for 3,969 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
$83.3K $21.00/SF
− Vacancy
−$13.3K −$3.36/SF
EGI
$70.0K $17.64/SF
− OpEx
−$17.5K −$4.41/SF
NOI
$52.5K $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%
$1,050,200
Cap Rate 7%
$750,143
Cap Rate 9%
$583,444
Alternative Uses
Best Use
Office B
$750.1K
$656.4K – $875.2K
NOI $52,510 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$921.6K – $1.23M
NOI $73,728 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,270
Businesses Nearby
Explore this area
Business Placement
Demographics for 93305, CA
38,392
Population
11,824
Households
3.2
Avg Household Size
29
Median Age
9%
College-Educated
64%
High-School Grad
5.8 sq mi
ZIP Area
6,619
Density / Sq Mi
$41,290
Median Household Income
$27,936
Median Earnings
$1,065
Median Rent
$245,000
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?
Office building - Dedicated office layout with private rooms, open workspace, and on-site parking.
Where is this office building located?
The property is located at 3509 Union Ave Bakersfield, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 3,969‑square‑foot freestanding office building; Multiple private offices plus open work areas; Conference room, walk‑in vault, and break room
