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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1004 Airport Dr Bakersfield, CA 93308-3132

    • Office buildings
    • 800 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Nov 29, 2022
    $130,000
    Value Estimations
    $155,000
    Show details
    Cap Rate Potential
    8.3%
    Office buildings
    Location Intelligence
    Property ID
    US09-3170574
    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

    • Farmers Insurance - Gary McKibbin / Insurance Agency

    Property Details for 1004 Airport Dr

    Year built
    1982
    Construction
    WOOD
    Lot size
    0.06 lot acres
    Property size
    800 SF
    Zone code
    C-1
    Property type
    Office buildings
    APN
    113-041-24-00-2
    APU
    11304124002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $135,000
      ML approach
      $125,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $190,000
      6.5%
      $175,000
      7%
      $160,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $175,000
      Market price range: $114k - $236k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $170,000
      Current use
      MEDICAL BUILDING
      $185,000
      Change: +8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.039
    Latitude
    35.4159
    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
    $2,020
    $20,808
    $114,444
    $135,252
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $515,000
      1.53 Acres

      1128 Carrier Pkwy Ave

      PROFESSIONAL BUILDING • 1.53 Acres
      1128 Carrier Pkwy Ave, Bakersfield, CA 93308-9666
      View Details
    • Value Estimation
      $1,315,000
      25,600 SF

      3655 Unicorn Rd

      PROFESSIONAL BUILDING • 25,600 SF
      3655 Unicorn Rd, Bakersfield, CA 93308-6806
      View Details
    • Value Estimation
      $1,790,000
      58,074 SF

      3701 Sillect Ave

      PROFESSIONAL BUILDING • 58,074 SF
      3701 Sillect Ave, Bakersfield, CA 93308-6330
      View Details
    • Value Estimation
      $980,000
      18,125 SF

      5351 Olive Dr Ste, Unit 100

      PROFESSIONAL BUILDING • 18,125 SF
      5351 Olive Dr Ste, Bakersfield, CA 93308-2926
      View Details
    • Value Estimation
      $845,000
      16,196 SF

      3430 Unicorn Rd

      PROFESSIONAL BUILDING • 16,196 SF
      3430 Unicorn Rd, Bakersfield, CA 93308-6829
      View Details
    • Value Estimation
      $1,610,000
      7,301 SF

      2131 Mars Ct

      PROFESSIONAL BUILDING • 7,301 SF
      2131 Mars Ct, Bakersfield, CA 93308-6830
      View Details

    Similar Nearby for Sale

    • $2,250,000
      10,746 SF

      Bakersfield Office Building For Sale

      Two-story, 10,746 SF office building in Northwest Bakersfield.
      3605 Coffee Rd, Bakersfield, CA 93308
      View Details
    • Contact for pricing
      5,725 SF

      Bakersfield Office Space Available

      Office property with 5725 square feet of space.
      3012 Sillect Ave, Bakersfield, CA 93308
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    • $439,995
      2,798 SF

      Remodeled Commercial Building in Bakersfield

      Remodeled commercial building with two suites in high-traffic location.
      306 Roberts Ln, Bakersfield, CA 93308
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    • $1,050,000
      3,273 SF

      Bakersfield Commercial Corner Lot

      High-traffic corner lot, dual residences.
      1575 Olive Dr, Bakersfield, CA 93308
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    • $3,500,000
      19.98 Acres

      Bakersfield Commercial Land - $3.5M

      19.98 Acres, Hwy 99 Development
      0 Merced Ave, Bakersfield, CA 93308
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    • $850,000
      14,000 SF

      Bakersfield Church - $850K

      Established Church, Ample Parking, North Bakersfield
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    Similar Nearby for Lease

    • $5,536 /Mo
      43,560 SF

      Bakersfield Office Building For Lease

      Single-story office building in North Bakersfield with flexible lease terms.
      4000 Rio Del Norte St, Bakersfield, CA 93308
      View Details
    • $1.80 SF/Yr
      17,125 SF

      Stand-Alone Office Building For Lease

      Recently updated office building with easy highway access.
      3600 N Sillect Ave, Bakersfield, CA 93308
      View Details
    • $13 SF/Yr
      70,456 SF

      Bakersfield Airport Business Center

      Prime Bakersfield Office/Warehouse Space
      3701 Pegasus Dr, Bakersfield, CA 93308
      View Details
    • $9 SF/Yr
      22,556 SF

      Bakersfield Flex Space Available

      Large Flex Warehouse, Prime Location
      3101 Pegasus Dr, Bakersfield, CA 93308
      View Details
    • $12 SF/Yr
      19,270 SF

      Standard St Industrial Space

      Bakersfield warehouse/flex space available.
      3504 Standard St, Bakersfield, CA 93308
      View Details
    • $4,800 /Mo
      2,350 SF

      Industrial Property with Large Yard

      Office, warehouse, and yard space for lease in Bakersfield.
      18400 Highway 65, Bakersfield, CA 93308
      View Details
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    1004 Airport Dr
    Bakersfield, CA 93308-3132
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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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