Flex Space with Office
For Sale
Contact for pricing
410 W J St, Tehachapi, CA 93561
M-1-zoned flex property with a turnkey general office suite and owner-user configuration.
Property Size13,888 SF
Lot Size3.27 Acres
Price / SF$136.45
Days on Market134
Property Features for 410 W J St
General Information
Standard status
Active
Size
13,888 SF
Class
B
Total Parking Spaces
37
Lot size
3.27 Acres
Property subtype
Industrial, Office
Zoning
M-1 (Light Industrial), City of Tehachapi
Occupancy
50%
Investment Type
Owner/User
Additional Details
Asking Price
$1,895,000
Building Details
Year Built
1990
Buildings
1
Stories
2
Units
37
Tenancy
Multi
Building Size
13,888 SF
Listing Agency:
Olivieri Commercial Group
(661) 327-1200
Listed By:
J-P Masuda · License #CA 01947962
Source:
Crexi
Added: Apr 20
Changed: Aug 31
Last Checked: Aug 31 at 1:07AM
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 Olivieri Commercial Group
Investment Insights
Based on property information with market context.
This 13,888 sq ft flex property was built in 1990 and includes Suite A, offering up to 6,338 sq ft for owner-user occupancy. Suite A is configured in turnkey general office condition, providing an established office component within the broader flex-space layout.
The property occupies approximately 3.27 acres at the southwest corner of W J Street and Mill Street in Tehachapi, California. Zoning is M-1 (Light Industrial), City of Tehachapi, supporting the property's light-industrial classification and office-oriented configuration.
The property occupies approximately 3.27 acres at the southwest corner of W J Street and Mill Street in Tehachapi, California. Zoning is M-1 (Light Industrial), City of Tehachapi, supporting the property's light-industrial classification and office-oriented configuration.
Key Highlights
- 13,888 sq ft flex property built in 1990
- Suite A provides up to 6,338 sq ft for owner‑user occupancy
- Suite A is in turnkey general office condition
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
$171,032
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
9.03%
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%
$3,420,640
$3.4M
Cap Rate 7%
$2,443,314
$2.4M
Cap Rate 9%
$1,900,356
$1.9M
Market Conditions
NOI Build-Up for 13,888 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
$256.7K $18.48/SF
− Vacancy
−$12.3K −$0.89/SF
EGI
$244.3K $17.59/SF
− OpEx
−$73.3K −$5.28/SF
NOI
$171.0K $12.32/SF
Area
Kern County, CA
Vacancy
4.80%
Lease Rate
$18.48 /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%
$3,420,640
Cap Rate 7%
$2,443,314
Cap Rate 9%
$1,900,356
Alternative Uses
Best Use
Industrial
$2.44M
$2.14M – $2.85M
NOI $171,032 @ 7.0% cap · market cap 9.03%
Second Best
Office B
$2.28M
$1.99M – $2.66M
NOI $159,580 @ 7.0% cap · market cap 8.42%
Theoretical Best
Warehouse
$2.97M
$2.60M – $3.46M
NOI $207,681 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93561, CA
31,091
Population
13,876
Households
2.2
Avg Household Size
42
Median Age
28%
College-Educated
92%
High-School Grad
301.8 sq mi
ZIP Area
103
Density / Sq Mi
$86,149
Median Household Income
$52,088
Median Earnings
$1,299
Median Rent
$377,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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- Catering at Mill Street Kitchen — 208 S Mill St, Tehachapi, CA 93561
Frequently Asked Questions
What type of property is this?
Flex space - M-1-zoned flex property with a turnkey general office suite and owner-user configuration.
Where is this flex space located?
The property is located at 410 W J St Tehachapi, CA.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: 13,888 sq ft flex property built in 1990; Suite A provides up to 6,338 sq ft for owner‑user occupancy; Suite A is in turnkey general office condition
