Mixed-Use Property in Prime
For Sale
Contact for pricing
2503 Niles St, Bakersfield, CA 93306
Mixed-use property with redevelopment potential in a high-traffic area.
Property Size8,617 SF
Lot Size1.76 Acres
Price / SF$174.07
Days on Market723
Property Features for 2503 Niles St
General Information
Standard status
Active
Size
8,617 SF
Class
C
Lot size
1.76 Acres
Property subtype
Mixed Use, Multifamily, Retail, Special Purpose
Zoning
C-1 & R-2
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
1961
Buildings
3
Stories
2
Units
3
Listing Agency:
Prime Retail Group
(661) 889-3201
Listed By:
Felix Diaz · License #01981655
Source:
Crexi
Added: Sep 9, 2024
Changed: Aug 27
Last Checked: Aug 31 at 6:09AM
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 Prime Retail Group
Investment Insights
Based on property information with market context.
Located at the Southeast Corner of Niles & Webster Street in Bakersfield, CA, this mixed-use property offers an opportunity for purchase or lease. The buildings have a combined rentable area of approximately 8,617 square feet, including a two-story building, a sanctuary, and a separate office building, all situated on approximately 1.76 acres of land. The location benefits from strong demographics, multiple points of entry and exit, and high visibility from all directions. The property is zoned C-1 and R-2, presenting an adaptive reuse opportunity with the existing structures or a development opportunity with a Junior Anchor plus Retail/QSR or a Gas Station. Niles Street is a busy retail corridor in East Bakersfield, and this site holds potential after acquisition.
Key Highlights
- Irreplaceable location at the Southeast Corner of Niles & Webster St in Bakersfield, CA.
- High visibility and multiple ingress/egress points on a busy retail corridor.
- Large lot size of +/- 1.76 acres.
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
$120,517
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
8.03%
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%
$2,410,340
$2.4M
Cap Rate 7%
$1,721,671
$1.7M
Cap Rate 9%
$1,339,078
$1.3M
Market Conditions
NOI Build-Up for 8,617 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
$191.3K $22.20/SF
− Vacancy
−$30.6K −$3.55/SF
EGI
$160.7K $18.65/SF
− OpEx
−$40.2K −$4.66/SF
NOI
$120.5K $13.99/SF
Area
ZIP 93306
Vacancy
16.00%
Lease Rate
$22.20 /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%
$2,410,340
Cap Rate 7%
$1,721,671
Cap Rate 9%
$1,339,078
Alternative Uses
Best Use
Retail
$2.02M
$1.77M – $2.36M
NOI $141,523 @ 7.0% cap · market cap 9.43%
Second Best
Office B
$1.72M
$1.51M – $2.01M
NOI $120,517 @ 7.0% cap · market cap 8.03%
Theoretical Best
Specialty Retail
$2.30M
$2.02M – $2.69M
NOI $161,233 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,229
Businesses Nearby
Explore this area
Business Placement
Demographics for 93306, CA
74,623
Population
23,789
Households
3.1
Avg Household Size
32
Median Age
18%
College-Educated
77%
High-School Grad
97.3 sq mi
ZIP Area
767
Density / Sq Mi
$66,988
Median Household Income
$35,696
Median Earnings
$1,219
Median Rent
$290,700
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?
Mixed-use property - Mixed-use property with redevelopment potential in a high-traffic area.
Where is this mixed-use property located?
The property is located at 2503 Niles St Bakersfield, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Irreplaceable location at the Southeast Corner of Niles & Webster St in Bakersfield, CA.; High visibility and multiple ingress/egress points on a busy retail corridor.; Large lot size of +/- 1.76 acres.
