Remodeled Retail-Office
For Sale
$615,000
411 N Chester Avenue, Bakersfield, CA 93308
Turnkey retail/office space fronting Chester Ave, demisable into two units with gated parking and a roll-up shutter entrance.
Property Size3,237 SF
Price / SF$189.99
Days on Market115
Property Features for 411 N Chester Avenue
General Information
Standard status
Active
Size
3,237 SF
Property subtype
General Commercial
Amenities
3
Building Details
Year Built
1947
Listing Agency:
Coldwell Banker Preferred, REALTORS
(661) 900-1596
Listed By:
Vikram Reddy · License #01845883
(661) 900-1596
Source:
Xome
Added: May 2
Changed: Aug 23
Last Checked: Aug 24 at 5:22AM
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 Coldwell Banker Preferred, REALTORS
Investment Insights
Based on property information with market context.
This turnkey retail/office property offers approximately 5,372 SF and can be demised into two separate units: a 3,237 SF unit with two restrooms and a 2,135 SF unit with one restroom. The building was completely remodeled in 2025, including new electrical, flooring, HVAC, and an updated roof area, along with industrial epoxy flooring throughout. The entrance features a powered commercial roll-up shutter, and secure gated parking is available.
The property fronts Chester Ave and is zoned for Commercial (C-2). It is located close to the Kern County Museum grounds and near Downtown Bakersfield, with access to CA-99, CA-178, and CA-204, plus proximity to residential areas, schools, restaurants, and other businesses.
The property fronts Chester Ave and is zoned for Commercial (C-2). It is located close to the Kern County Museum grounds and near Downtown Bakersfield, with access to CA-99, CA-178, and CA-204, plus proximity to residential areas, schools, restaurants, and other businesses.
Key Highlights
- Approximately 5,372 SF retail/office space fronting Chester Ave, available for sale/lease
- Demisable layout into 2 units: 3,237 SF (2 restrooms) and 2,135 SF (1 restroom)
- Completely remodeled in 2025 with new electrical, flooring, HVAC, and industrial epoxy flooring
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
$42,826
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
6.96%
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%
$856,520
$856.5K
Cap Rate 7%
$611,800
$611.8K
Cap Rate 9%
$475,844
$475.8K
Market Conditions
NOI Build-Up for 3,237 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
$68.0K $21.00/SF
− Vacancy
−$10.9K −$3.36/SF
EGI
$57.1K $17.64/SF
− OpEx
−$14.3K −$4.41/SF
NOI
$42.8K $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%
$856,520
Cap Rate 7%
$611,800
Cap Rate 9%
$475,844
Alternative Uses
Best Use
Office B
$611.8K
$535.3K – $713.8K
NOI $42,826 @ 7.0% cap · market cap 6.96%
Second Best
Retail
$442.8K
$387.5K – $516.6K
NOI $30,998 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$859.0K
$751.6K – $1.00M
NOI $60,131 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Explore this area
Business Placement
Demographics for 93308, CA
56,037
Population
21,443
Households
2.6
Avg Household Size
35
Median Age
18%
College-Educated
84%
High-School Grad
344.6 sq mi
ZIP Area
163
Density / Sq Mi
$59,511
Median Household Income
$39,676
Median Earnings
$1,260
Median Rent
$298,000
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?
Retail space - Turnkey retail/office space fronting Chester Ave, demisable into two units with gated parking and a roll-up shutter entrance.
Where is this retail space located?
The property is located at 411 N Chester Avenue Bakersfield, CA.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Approximately 5,372 SF retail/office space fronting Chester Ave, available for sale/lease; Demisable layout into 2 units: 3,237 SF (2 restrooms) and 2,135 SF (1 restroom); Completely remodeled in 2025 with new electrical, flooring, HVAC, and industrial epoxy flooring
