Two-Unit Storefront
For Sale
$565,000
Chester Avenue, Bakersfield, CA 93308
C-2 zoning and existing salon improvements support immediate commercial occupancy.
Property Size3,831 SF
Price / SF$147.48
Days on Market195
Property Features for Chester Avenue
General Information
Standard status
Active
Size
3,831 SF
Property subtype
General Commercial
Zoning
C-2
Amenities
3
Building Details
Year Built
1937
Buildings
1
Tenancy
Multi
Listing Agency:
Wayside, Realtors- Miramar Realty
(661) 699-2753
Listed By:
Kyle Lawson · License #02026857
(661) 699-2753
Source:
Xome
Added: Feb 18
Changed: Aug 31
Last Checked: Aug 31 at 3:19PM
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 Wayside, Realtors- Miramar Realty
Investment Insights
Based on property information with market context.
Located at 1601 N Chester Avenue in Bakersfield, this 3,831-square-foot storefront property was built in 1937 and is divided into two separate units. The building previously operated as a bank and was later configured for salon use, with dedicated areas for hair, nail, pedicure, and styling services.
Furniture and equipment may remain with the property, offering an existing setup for continued salon operations. The second unit provides additional commercial space for a separate business or an owner-user configuration. C-2 zoning supports the property's commercial positioning.
Furniture and equipment may remain with the property, offering an existing setup for continued salon operations. The second unit provides additional commercial space for a separate business or an owner-user configuration. C-2 zoning supports the property's commercial positioning.
Key Highlights
- 3,831‑square‑foot commercial building constructed in 1937
- Two separately partitioned units within the building
- Existing salon setup with hair, nail, pedicure, and styling stations
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
$36,686
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
6.49%
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%
$733,720
$733.7K
Cap Rate 7%
$524,086
$524.1K
Cap Rate 9%
$407,622
$407.6K
Market Conditions
NOI Build-Up for 3,831 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
$55.2K $14.40/SF
− Vacancy
−$2.8K −$0.72/SF
EGI
$52.4K $13.68/SF
− OpEx
−$15.7K −$4.10/SF
NOI
$36.7K $9.58/SF
Area
Bakersfield, CA
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$733,720
Cap Rate 7%
$524,086
Cap Rate 9%
$407,622
Alternative Uses
Best Use
Retail
$524.1K
$458.6K – $611.4K
NOI $36,686 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$889.6K – $1.19M
NOI $71,165 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
854
Businesses Nearby
180k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 25%
Groceries 21%
Apparel 5%
Albertsons
Groceries
38,300 visits/mo
0.1 miles
McDonald's
Dining
35,372 visits/mo
0.1 miles
Dutch Bros. Coffee
Dining
18,578 visits/mo
0.1 miles
ARCO
Shops & Services
14,050 visits/mo
0.2 miles
Panda Express
Dining
13,299 visits/mo
0.0 miles
Demographics for 93308, CA
56,037
Population
21,443
Households
2.6
Avg Household Size
35
Median Age
18%
College-Educated
84%
High-School Grad
344.6 sq mi
ZIP Area
163
Density / Sq Mi
$59,511
Median Household Income
$39,676
Median Earnings
$1,260
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Retail in Bakersfield, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - C-2 zoning and existing salon improvements support immediate commercial occupancy.
Where is this storefront property located?
The property is located at Chester Avenue Bakersfield, CA.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 3,831‑square‑foot commercial building constructed in 1937; Two separately partitioned units within the building; Existing salon setup with hair, nail, pedicure, and styling stations
