Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    408 N Mill St Tehachapi, CA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    1.06 acres zoned for retail, drive-thru, and multi-family.

    Type:LAND
    Property size:
    46,174 SF
    Lot size:
    1.06 Acres
    Price / SF:
    $12/SF
    Added:
    Nov 29, 2023
    Days on Market:
    877
    Last Refresh:
    Apr 5 at 10:26 pm

    Property Features for 408 N Mill St

    General Information

    Standard status
    Active
    Size
    46,174 SF
    Lot size
    1.06 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Vic Deirmendjian

    Listing agent Vic Deirmendjian License #00599219

    Listing office Investment Properties

    Listing date Nov 29, 2023

    Source Moodyscre

    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 Investment Properties

    Overview

    Prime Land Near Retail Hub

    This property features approximately 1.06 acres of land with street utilities available. It is located contiguous to a Tractor Supply store and across from a Home Depot. The zoning allows for retail, drive-thru, and multi-family developments. Buyers are advised to verify all information.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tehachapi
    County
    Kern
    State
    California
    Longitude
    -118.451
    Latitude
    35.1366

    Nearby Similar for Sale

    • $585,000
      1,350 SF

      Tehachapi Industrial Property For Sale

      M1 zoned industrial property in the heart of Tehachapi City.
      100 N Dennison Road, Tehachapi, CA 93561
      View Details
    • $125,000
      2,400 SF

      Downtown Tehachapi Studio with Potential

      2,400 SF studio in downtown Tehachapi with reposition potential.
      311 S Curry St, Tehachapi, CA 93561
      View Details
    • $43,000

      Corner Lot in Tehachapi, CA

      Flat, C-1 zoned land with water meter installed.
      22500 Mariposa Road, Tehachapi, CA 93561
      View Details
    • $750,000

      Tehachapi Land For Sale

      6.57 acre M-1 zoned land suitable for industrial development.
      Tehachapi Boulevard, Tehachapi, CA 93561
      View Details
    • $59,000

      Land in Stallion Springs

      Corner lot in Stallion Springs with utilities available.
      18130 Bold Venture Drive, Tehachapi, CA 93561
      View Details
    • $710,000
      3,317 SF

      Charming Tehachapi Fourplex For Sale

      Tehachapi fourplex featuring two-bedroom units and single-car garages.
      21247 Madre Street, Tehachapi, CA 93561
      View Details
    • $49,000

      Land in Stallion Springs

      Two adjacent lots zoned C2 PD in Stallion Springs.
      18140 Bold Venture Drive, Tehachapi, CA 93561
      View Details
    • $40,000

      Tehachapi Land with Mountain Views

      0.27-acre lot in Golden Hills, Tehachapi with mountain views.
      22712 Debbie Place, Tehachapi, CA 93561
      View Details
    • $44,500

      Tehachapi Land Opportunity

      Downtown lot near amenities, potential for multiple uses.
      301 S Curry St, Tehachapi, CA 93561
      View Details
    • $24,999

      Buildable Lot in Stallion Springs

      Prime 0.9-acre lot ready for your dream home.
      Jacks Hill Road, Tehachapi, CA 93561
      View Details
    • $24,999

      Stallion Springs Vacant Land

      Vacant lot in Stallion Springs with mountain views.
      Delaware Dr, Tehachapi, CA 93561
      View Details
    • $59,900

      Land in Gated Community

      1.62 acre parcel with mountain views and water meter.
      25260 Jacaranda Drive, Tehachapi, CA 93561
      View Details

    FAQs

    What type of property is this?
    Land - 1.06 acres zoned for retail, drive-thru, and multi-family.
    Where is this land located?
    The property is located at 408 N Mill St Tehachapi, CA.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: Zoned for Retail, Drive‑Thru, & Multi‑Family; Contiguous to Tractor Supply; Across From Home Depot
    (818) 519-6755 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Vic Deirmendjian
    Real Estate License ID: 00599219
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!