High-Clearance Flex Space
For Sale
$1,050,000
985 E Truxtun Ave, Bakersfield, CA 93305
High-clearance flex building on a security-fenced island-style lot with roll-up doors and an air-conditioned office area.
Property Size9,900 SF
Lot Size0.48 Acres
Price / SF$106.06
Days on Market27
Property Features for 985 E Truxtun Ave
General Information
Standard status
Active
Size
9,900 SF
Lot size
0.48 Acres
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
20 ft
Clear Span
Yes
Drive-In Doors
2
Building Details
Buildings
1
Listing Agency:
Watson Realty
(661) 203-8406
Listed By:
Jack Michael Saba, GRI
(661) 203-8406
Source:
Exprealty
Added: Jul 11
Changed: Jul 29
Last Checked: Jul 31 at 5:54PM
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 Watson Realty
Investment Insights
Based on property information with market context.
This flex space industrial building sits on a unique island-style lot in Old Town Kern, totaling 20,908 square feet per the Kern County Assessor. The entire lot is security fenced and includes three points of entry and exit.
The building features a 20 foot high in clear ceiling with no support posts, with two roll-up shop-style doors serving the shop area. Vehicle access is supported by two entryways for vehicles, plus man-style doors to the shop and to the office space.
The office area is configured with three offices, a conference room, and three bathrooms. Office comfort is supported by both air conditioning and heating, and the building includes an overhead loft for additional storage. The property is located near Highway 58 and Highway 99, providing convenient regional access.
The building features a 20 foot high in clear ceiling with no support posts, with two roll-up shop-style doors serving the shop area. Vehicle access is supported by two entryways for vehicles, plus man-style doors to the shop and to the office space.
The office area is configured with three offices, a conference room, and three bathrooms. Office comfort is supported by both air conditioning and heating, and the building includes an overhead loft for additional storage. The property is located near Highway 58 and Highway 99, providing convenient regional access.
Key Highlights
- 20,908 SF island‑style lot, per Kern County Assessor
- Security‑fenced lot with three points of entry and exit
- 20 foot high in clear ceiling with no support posts
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
$93,359
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
8.89%
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%
$1,867,180
$1.9M
Cap Rate 7%
$1,333,700
$1.3M
Cap Rate 9%
$1,037,322
$1.0M
Market Conditions
NOI Build-Up for 9,900 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
$154.4K $15.60/SF
− Vacancy
−$10.8K −$1.09/SF
EGI
$143.6K $14.51/SF
− OpEx
−$50.3K −$5.08/SF
NOI
$93.4K $9.43/SF
Area
Bakersfield, CA
Vacancy
7.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,867,180
Cap Rate 7%
$1,333,700
Cap Rate 9%
$1,037,322
Alternative Uses
Best Use
Warehouse
$1.75M
$1.53M – $2.05M
NOI $122,741 @ 7.0% cap · market cap 11.69%
Second Best
Industrial
$1.44M
$1.26M – $1.68M
NOI $101,081 @ 7.0% cap · market cap 9.63%
Theoretical Best
Office A
$2.63M
$2.30M – $3.07M
NOI $183,902 @ 7.0% cap · market cap 17.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
935
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93305, CA
38,392
Population
11,824
Households
3.2
Avg Household Size
29
Median Age
9%
College-Educated
64%
High-School Grad
5.8 sq mi
ZIP Area
6,619
Density / Sq Mi
$41,290
Median Household Income
$27,936
Median Earnings
$1,065
Median Rent
$245,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - High-clearance flex building on a security-fenced island-style lot with roll-up doors and an air-conditioned office area.
Where is this flex space located?
The property is located at 985 E Truxtun Ave Bakersfield, CA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 20,908 SF island‑style lot, per Kern County Assessor; Security‑fenced lot with three points of entry and exit; 20 foot high in clear ceiling with no support posts
