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    320-Acre Multi-Zoned Development Opportunity Title is generated by Realmo AI

    East of Highway 99 & North of Deer Creek Avenue, Earlimart, CA 93219

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    320-acre multi-zoned property near Earlimart, CA, for mixed-use development.

    Type:Land, Mixed Use
    Lot size:
    320.00 Acres
    Added:
    Aug 30, 2024
    Days on Market:
    640
    Last Refresh:
    May 13 at 8:21 pm

    Property Features for East of Highway 99 & North of Deer Creek Avenue

    General Information

    Standard status
    Active
    Lot size
    320.00 Acres
    Property subtype
    Land, Mixed Use

    We can help!

    Listing Contact
    Matt Marschall
    Matt Marschall

    Listing agent Matt Marschall License #01035488

    Listing office Kidder Mathews Carlsbad

    Listing date Aug 30, 2024

    Source Crexi

    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 Kidder Mathews Carlsbad

    HighLights

    • ±320‑acre multi‑zoned property re‑entitled for mixed‑use development.
    • Located on Hwy 99, north of Earlimart, in Tulare County, in the path of progress.
    • Incorporated into the Earlimart Community and Tulare County General Plan.
    • Situated on the northern fringes of Bakersfield, one of the fastest growing MSA’s in the Nation.
    • Consists of eight (8) contiguous parcels with adjusted lot lines to reflect new land uses.
    • Currently farmed for table/raisin grapes, jujube fruit, and almonds, providing interim income.

    Overview

    The Vineyards is a 320-acre multi-zoned property comprised of eight contiguous parcels located on the east side of Highway 99, just north of the city of Earlimart, in Tulare County, California. The property has been re-entitled for mixed-use development and incorporated into the Earlimart Community and Tulare County General Plan after a 12-year process. Lot lines have been adjusted to reflect the new land uses. The property is currently being farmed for table/raisin grapes, jujube fruit, and almonds, providing for interim income. This property is located on the northern fringes of Bakersfield, California.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Earlimart
    County
    Tulare
    State
    California
    Longitude
    -119.335
    Latitude
    35.856

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - 320-acre multi-zoned property near Earlimart, CA, for mixed-use development.
    Where is this agricultural land / farmland located?
    The property is located at East of Highway 99 & North of Deer Creek Avenue Earlimart, CA.
    What are key features of this property?
    This property features: ±320‑acre multi‑zoned property re‑entitled for mixed‑use development.; Located on Hwy 99, north of Earlimart, in Tulare County, in the path of progress.; Incorporated into the Earlimart Community and Tulare County General Plan.
    (760) 420-1632 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Matt Marschall
    Matt Marschall
    Real Estate License ID: 01035488
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    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.

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    East of Highway 99 & North of Deer Creek Avenue, Earlimart, CA 93219
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