Retail Center Anchored by National
For Sale
Contact for pricing
655-695 Tucker Road, Tehachapi, CA 93561
A largely occupied Tehachapi retail center anchored by Big 5 Sporting Goods and Goodwill.
Property Size39,258 SF
Price / SF$189.44
Days on Market101
Property Features for 655-695 Tucker Road
General Information
Standard status
Active
Size
39,258 SF
Total Parking Spaces
196
Property subtype
Retail
Zoning
C2
Occupancy
86%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$550,318
Building Details
Year Built
2008
Tenancy
Multi
Listing Agency:
CBRE - Orange County
Listed By:
Erin Smith · License #CA 02214300
Source:
Crexi
Added: May 28
Changed: Aug 24
Last Checked: Sep 1 at 7:30AM
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 CBRE - Orange County
Investment Insights
Based on property information with market context.
The Orchard is a retail center presented for sale with approximately 86% occupancy and a total building size of 39,258 square feet. The property is anchored by national tenants including Big 5 Sporting Goods and Goodwill, supported by a mix of in-place retail offerings designed to serve everyday shopping and service needs.
Located at 655–695 Tucker Road in Tehachapi, the center sits just off Tucker Rd within the community’s primary retail hub. The surrounding tenant mix includes well-known retailers and restaurants such as Walmart Supercenter, Albertsons, AutoZone Auto Parts, Dollar Tree, DG Market, Starbucks, Taco Bell, McDonald’s, Jiffy Lube, Panda Express, and Chipotle.
For buyers seeking a retail asset with established tenants, The Orchard offers a practical combination of anchor draw and ongoing in-place occupancy. Its tenant mix and positioning within Tehachapi’s primary retail cluster can support a straightforward retail ownership plan for operators looking to maintain and improve an already-functioning center.
Located at 655–695 Tucker Road in Tehachapi, the center sits just off Tucker Rd within the community’s primary retail hub. The surrounding tenant mix includes well-known retailers and restaurants such as Walmart Supercenter, Albertsons, AutoZone Auto Parts, Dollar Tree, DG Market, Starbucks, Taco Bell, McDonald’s, Jiffy Lube, Panda Express, and Chipotle.
For buyers seeking a retail asset with established tenants, The Orchard offers a practical combination of anchor draw and ongoing in-place occupancy. Its tenant mix and positioning within Tehachapi’s primary retail cluster can support a straightforward retail ownership plan for operators looking to maintain and improve an already-functioning center.
Key Highlights
- 2008‑built retail center totaling 139,258 SF
- Approximately 86% occupied retail center with in‑place tenants
- Anchored by Big 5 Sporting Goods and Goodwill
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
$387,889
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
5.22%
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%
$7,757,780
$7.8M
Cap Rate 7%
$5,541,271
$5.5M
Cap Rate 9%
$4,309,878
$4.3M
Market Conditions
NOI Build-Up for 39,258 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
$588.9K $15.00/SF
− Vacancy
−$34.7K −$0.89/SF
EGI
$554.1K $14.11/SF
− OpEx
−$166.2K −$4.23/SF
NOI
$387.9K $9.88/SF
Area
Kern County, CA
Vacancy
5.90%
Lease Rate
$15.00 /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%
$7,757,780
Cap Rate 7%
$5,541,271
Cap Rate 9%
$4,309,878
Alternative Uses
Best Use
Retail
$5.54M
$4.85M – $6.46M
NOI $387,889 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$8.39M
$7.34M – $9.78M
NOI $587,065 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Well-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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - A largely occupied Tehachapi retail center anchored by Big 5 Sporting Goods and Goodwill.
Where is this shopping center located?
The property is located at 655-695 Tucker Road Tehachapi, CA.
What is the asking price?
The asking price for this property is $7,437,000.
What are key features of this property?
This property features: 2008‑built retail center totaling 139,258 SF; Approximately 86% occupied retail center with in‑place tenants; Anchored by Big 5 Sporting Goods and Goodwill
