Modernized Medical Office
For Sale
Contact for pricing
901 34th St, Bakersfield, CA 93301
Modernized, fully remodeled medical office building fully leased to a regional operator with more than 10 California locations.
Property Size2,370 SF
Price / SF$221.52
Days on Market211
Property Features for 901 34th St
General Information
Standard status
Active
Size
2,370 SF
Property subtype
OFFICE
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Year Renovated
2023
Listing Agency:
ASU Commercial
(661) 885-6949
Listed By:
Dylan J. Lym · License #02103385
(661) 862-5454
Source:
Moodyscre
Added: Feb 16
Changed: Sep 7
Last Checked: Sep 15 at 8:24AM
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 ASU Commercial
Investment Insights
Based on property information with market context.
This modernized medical office building is fully leased to a regional operator with more than 10 locations across California. Full interior and exterior remodel work was completed in 2023.
The property is a corner location at the intersection of 34th Street and Panama Street. It is located less than 0.25 miles west of Dignity-Memorial Hospital and offers access to routes throughout Kern County via nearby Highway 99 and Highway 178.
The property is a corner location at the intersection of 34th Street and Panama Street. It is located less than 0.25 miles west of Dignity-Memorial Hospital and offers access to routes throughout Kern County via nearby Highway 99 and Highway 178.
Key Highlights
- Fully leased modernized medical office building with a regional operator operating more than 10 locations across California
- Full interior and exterior remodel completed in 2023
- Located less than 0.25 miles west of Dignity‑Memorial Hospital (largest regional medical center in the southern San Joaquin valley with 385 acute care beds)
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
$31,568
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
6.01%
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%
$631,360
$631.4K
Cap Rate 7%
$450,971
$451.0K
Cap Rate 9%
$350,756
$350.8K
Market Conditions
NOI Build-Up for 2,370 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
$56.9K $24.00/SF
− Vacancy
−$4.3K −$1.80/SF
EGI
$52.6K $22.20/SF
− OpEx
−$21.0K −$8.88/SF
NOI
$31.6K $13.32/SF
Area
Bakersfield, CA
Vacancy
7.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$631,360
Cap Rate 7%
$450,971
Cap Rate 9%
$350,756
Alternative Uses
Best Use
Healthcare Medical
$451.0K
$394.6K – $526.1K
NOI $31,568 @ 7.0% cap · market cap 6.01%
Second Best
Office B
$447.9K
$391.9K – $522.6K
NOI $31,355 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$628.9K
$550.3K – $733.8K
NOI $44,025 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,343
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 93301, CA
14,518
Population
6,202
Households
2.3
Avg Household Size
33
Median Age
20%
College-Educated
83%
High-School Grad
4.3 sq mi
ZIP Area
3,376
Density / Sq Mi
$40,725
Median Household Income
$36,623
Median Earnings
$1,129
Median Rent
$264,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Modernized, fully remodeled medical office building fully leased to a regional operator with more than 10 California locations.
Where is this medical office space located?
The property is located at 901 34th St Bakersfield, CA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Fully leased modernized medical office building with a regional operator operating more than 10 locations across California; Full interior and exterior remodel completed in 2023; Located less than 0.25 miles west of Dignity‑Memorial Hospital (largest regional medical center in the southern San Joaquin valley with 385 acute care beds)
