Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    1201 23rd St Bakersfield, CA 93301-2306

    • Medical offices
    • 5,208 SF
    • 0.32 lot acres
    OFF-MARKET
    Last Sale
    Feb 24, 2025
    $1,250,000
    Value Estimations
    $1,040,000
    Show details
    Cap Rate Potential
    6.6%
    Medical offices
    Location Intelligence
    Property ID
    US09-3063562
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Glinn & Giordano Physical Therapy / Physical Therapy Clinic
    • Giordano Daniel R / Physical Therapist
    • Steven Jelmini / Physical Therapist
    • Joshu Diebel / Physical Therapist
    • Kurt Wingate / Physical Therapist

    Property Details for 1201 23rd St

    Year built
    1965
    Construction
    WOOD
    Lot size
    0.32 lot acres
    Property size
    5,208 SF
    Zone code
    C-C
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    005-421-04-00-6
    APU
    542104006

    Description

    This exceptional 5,263 square foot storefront, located at 1201 23rd Street in Bakersfield, California, presents a compelling investment opportunity. Built in 1965 and situated on a 0.32-acre lot, the property boasts a highly desirable C-C zoning designation. Its prime location between heavily trafficked 23rd and M Streets places it within easy reach of a substantial workforce

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,045,000
      ML approach
      $1,025,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,155,000
      6.5%
      $1,065,000
      7%
      $990,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $888,000
      Market price range: $889k - $1.58M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.016
    Latitude
    35.3798
    CBSA code
    12540
    CBSA name
    BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,225
    $159,663
    $263,449
    $423,112
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $290,000
      0.17 Acres

      2217 19th St

      MEDICAL BUILDING • 0.17 Acres
      2217 19th St, Bakersfield, CA 93301-3608
      View Details
    • Value Estimation
      $300,000
      7,518 SF

      1524 27th Off St Spc Only

      MEDICAL BUILDING • 7,518 SF
      1524 27th Off St Spc Only, Bakersfield, CA 93301
      View Details
    • Value Estimation
      $285,000
      2,123 SF

      3550 Q St Ste, Unit 102

      MEDICAL BUILDING • 2,123 SF
      3550 Q St Ste, Bakersfield, CA 93301-1645
      View Details
    • Value Estimation
      $705,000
      16,188 SF

      1801 16th St

      MEDICAL BUILDING • 16,188 SF
      1801 16th St, Bakersfield, CA 93301-5036
      View Details
    • Value Estimation
      $290,000
      1,252 SF

      2323 16th St Ste, Unit 101

      MEDICAL BUILDING • 1,252 SF
      2323 16th St Ste, Bakersfield, CA 93301-3453
      View Details
    • Value Estimation
      $215,000
      837 SF

      2323 16th St Ste, Unit 103

      MEDICAL BUILDING • 837 SF
      2323 16th St Ste, Bakersfield, CA 93301-3453
      View Details

    Similar Nearby for Sale

    • $2,500,000
      6,676 SF

      Bakersfield Surgery Center For Sale

      Accredited surgery center, turnkey opportunity.
      2725 16Th St, Bakersfield, CA 93301
      View Details
    • $3,200,000
      11,749 SF

      San Dimas Medical Office Complex

      Bakersfield, CA: 100% Occupied Medical Office Buildings
      3737 San Dimas St, Bakersfield, CA 93301
      View Details
    • $675,000
      2,914 SF

      Bakersfield Medical Office Building

      Downtown Bakersfield, Owner-User Opportunity
      2731 H St, Bakersfield, CA 93301
      View Details
    • $395,000
      1,619 SF

      Downtown Bakersfield Medical Office

      Prime Medical Office Building, Owner-User Opportunity
      2011 19Th St, Bakersfield, CA 93301
      View Details
    • $2,500,000

      Medical Office Building For Sale

      Two-story medical office building near Memorial Hospital, ideal for owner/user.
      6000 Physicians Blvd, Bakersfield, CA 93301
      View Details
    • $280,000
      2,123 SF

      Medical Office Condos For Sale

      Two renovated medical office suites available near Memorial Hospital.
      3550 Q St, Bakersfield, CA 93301
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      84,000 SF

      Downtown Bakersfield Medical Office Space

      Class A medical office, 2,000-28,711 SF available
      625 34Th St, Bakersfield, CA 93301
      View Details
    • $19 SF/Yr
      57,317 SF

      Downtown Bakersfield Medical Office

      Prime medical office space, 24,796 SF available.
      2323 16Th St, Bakersfield, CA 93301
      View Details
    • $21 SF/Yr
      2,123 SF

      Medical Office Suite Bakersfield

      Prime Medical Office Space near Memorial Hospital
      3550 Q St, Bakersfield, CA 93301
      View Details
    • $45 SF/Yr
      6,676 SF

      Bakersfield Medical Office Building

      Downtown Bakersfield surgery center, fully equipped.
      2725 16Th St, Bakersfield, CA 93301
      View Details
    • $4,125,000
      6,173 SF

      Medical Office Suite Available

      Second floor medical office suite available for rent.
      2525 Eye St, Bakersfield, CA 93301
      View Details
    • $1.80 SF/Yr
      3,002 SF

      Move-in Ready Medical Office Space

      Medical office space near hospitals with secured parking.
      1215 34Th St, Bakersfield, CA 93301
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1201 23rd St
    Bakersfield, CA 93301-2306
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.