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    Property profile & analytics

    Dr Bakersfield, CA 93309

    • Neighborhood centers
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 0 Dr

    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    This exceptional retail property in Bakersfield, California, offers a single-tenant space ranging from approximately 6,000 to 10,000 square feet. Located on Mervyn's Drive, near the intersection with California Avenue, this new construction building boasts convenient access to the US 99 Freeway Interchange (within approximately 0.5 miles). The property benefits from a high-traffic location, with an estimated 55,000 Annual Average Daily Traffic (AADT) as of 2015, according to ESRI data. Its strategic placement at a signalized intersection ensures excellent visibility. Additional features include ample parking, patio seating, and endcap locations. The property is situated adjacent to a Hobby Lobby, providing strong synergy and increased foot traffic. Street monument signage is also available, enhancing visibility and brand recognition. This is an ideal opportunity for a business seeking a high-visibility location in a thriving Bakersfield market. The building is a single-tenant strip center in Kern County, with a zip code of 93309.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.05
    Latitude
    35.369

    Comparable in this City

    • Value Estimation
      $1,425,000
      17,064 SF

      3739 Ming Ave

      SHOPPING CENTER, STRIP CENTER • 17,064 SF
      3739 Ming Ave, Bakersfield, CA 93309-5001
      View Details
    • Value Estimation
      $6,245,000
      39,393 SF

      4310 California Ave

      SHOPPING CENTER, STRIP CENTER • 39,393 SF
      4310 California Ave, Bakersfield, CA 93309-1018
      View Details
    • Value Estimation by Request
      3,200 SF

      4901 Wilson Rd

      SHOPPING CENTER, STRIP CENTER • 3,200 SF
      4901 Wilson Rd, Bakersfield, CA 93309-4768
      View Details
    • Value Estimation
      $3,035,000
      27,360 SF

      4129 Ming Ave

      SHOPPING CENTER, STRIP CENTER • 27,360 SF
      4129 Ming Ave, Bakersfield, CA 93309-4994
      View Details
    • Value Estimation
      $2,295,000
      14,618 SF

      3700 California Ave

      SHOPPING CENTER, STRIP CENTER • 14,618 SF
      3700 California Ave, Bakersfield, CA 93309-1081
      View Details
    • Value Estimation
      $2,040,000
      20,000 SF

      4708 Planz Rd

      SHOPPING CENTER, STRIP CENTER • 20,000 SF
      4708 Planz Rd, Bakersfield, CA 93309-6351
      View Details

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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.

    More about this property
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