Downtown Bakersfield Multi-Tenant Office
For Sale
Contact for pricing
1727 16th Street, Bakersfield, CA 93301
3,013 SF multi-tenant office building in downtown Bakersfield.
Property Size3,013 SF
Price / SF$207.43
Days on Market723
Property Features for 1727 16th Street
General Information
Standard status
Active
Size
3,013 SF
Property subtype
Office
Zoning
C-C
Investment Type
Owner/User
Building Details
Year Built
1973
Year Renovated
2024
Buildings
1
Stories
1
Units
5
Listing Agency:
Colliers - Bakersfield, California
(559) 256-2449
Listed By:
Jason Alexander · License #CA 01360995
Source:
Crexi
Added: Sep 9, 2024
Changed: Aug 25
Last Checked: Aug 29 at 10:03PM
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 Colliers - Bakersfield, California
Investment Insights
Based on property information with market context.
The property at 1727 16th St is a single-story, multi-tenant general office building with an area of approximately 3,013 square feet. It is situated at the southeast corner of 16th St and G St in the downtown Bakersfield submarket. The location offers close proximity to Dignity Health Mercy Hospital Downtown and is surrounded by office, medical, retail, and restaurant establishments. This property is suitable for an owner-user looking to occupy a portion of the space while generating rental income from other tenants.
Key Highlights
- Prime downtown Bakersfield location at the corner of 16th St and G St.
- Approximately 3,013 SF multi‑tenant general office building.
- Opportunity for owner‑user to occupy space and generate rental income.
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
$39,862
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
6.38%
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%
$797,240
$797.2K
Cap Rate 7%
$569,457
$569.5K
Cap Rate 9%
$442,911
$442.9K
Market Conditions
NOI Build-Up for 3,013 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
$63.3K $21.00/SF
− Vacancy
−$10.1K −$3.36/SF
EGI
$53.1K $17.64/SF
− OpEx
−$13.3K −$4.41/SF
NOI
$39.9K $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%
$797,240
Cap Rate 7%
$569,457
Cap Rate 9%
$442,911
Alternative Uses
Best Use
Office B
$569.5K
$498.3K – $664.4K
NOI $39,862 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$799.6K
$699.6K – $932.8K
NOI $55,969 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,582
Businesses Nearby
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 3,013 SF multi-tenant office building in downtown Bakersfield.
Where is this office building located?
The property is located at 1727 16th Street Bakersfield, CA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Prime downtown Bakersfield location at the corner of 16th St and G St.; Approximately 3,013 SF multi‑tenant general office building.; Opportunity for owner‑user to occupy space and generate rental income.
