Single-Story
For Sale
$249,000
640 Commercial Ave, Ridgecrest, CA 93555
1976-built residential income property with R-2 zoning and floor/wall furnace heating.
Property Size1,672 SF
Lot Size0.15 Acres
Price / SF$148.92
Days on Market113
Property Features for 640 Commercial Ave
General Information
Standard status
Active
Size
1,672 SF
Lot size
0.15 Acres
Property subtype
Residential Income
Zoning
R-2
Additional Details
Multifamily Units
2
Building Details
Year Built
1976
Buildings
1
Stories
1
Listing Agency:
TNT Western Homes Inc.
(760) 384-8884
Listed By:
Timothy D. Jacobs · License #01468735
(760) 384-8884
Source:
Exprealty
Added: May 11
Changed: Aug 30
Last Checked: Aug 30 at 9:43PM
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 TNT Western Homes Inc.
Investment Insights
Based on property information with market context.
This single-story duplex was built in 1976 and occupies a 6,534-square-foot lot under R-2 zoning. The property includes approximately 1,675 total square feet, along with 2 bedrooms and 1 bathroom. Heating is provided by floor/wall furnaces, and the duplex includes parking.
Located near Naval Air Weapons Station in Ridgecrest, the property offers a two-unit residential configuration in an established rental-market setting. Its layout supports continued residential occupancy and income-producing use, subject to applicable zoning and property-specific requirements.
Located near Naval Air Weapons Station in Ridgecrest, the property offers a two-unit residential configuration in an established rental-market setting. Its layout supports continued residential occupancy and income-producing use, subject to applicable zoning and property-specific requirements.
Key Highlights
- Single‑story duplex built in 1976
- Approximately 1,675 total square feet
- Situated on a 6,534 sq ft lot
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
$20,870
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
8.38%
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%
$417,400
$417.4K
Cap Rate 7%
$298,143
$298.1K
Cap Rate 9%
$231,889
$231.9K
Market Conditions
NOI Build-Up for 1,672 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
$30.7K $18.36/SF
− Vacancy
−$884 −$0.53/SF
EGI
$29.8K $17.83/SF
− OpEx
−$8.9K −$5.35/SF
NOI
$20.9K $12.48/SF
Area
Kern County, CA
Vacancy
2.88%
Lease Rate
$18.36 /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%
$417,400
Cap Rate 7%
$298,143
Cap Rate 9%
$231,889
Alternative Uses
Best Use
Multifamily LT 5
$298.1K
$260.9K – $347.8K
NOI $20,870 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$275.2K
$240.8K – $321.0K
NOI $19,262 @ 7.0% cap · market cap 7.74%
Theoretical Best
Warehouse
$357.2K
$312.5K – $416.7K
NOI $25,003 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 93555, CA
32,810
Population
14,401
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
91%
High-School Grad
78.1 sq mi
ZIP Area
420
Density / Sq Mi
$84,141
Median Household Income
$50,198
Median Earnings
$1,180
Median Rent
$235,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - 1976-built residential income property with R-2 zoning and floor/wall furnace heating.
Where is this duplex located?
The property is located at 640 Commercial Ave Ridgecrest, CA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Single‑story duplex built in 1976; Approximately 1,675 total square feet; Situated on a 6,534 sq ft lot
