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Property profile & analytics
OFF-MARKET
Estimated value
$2,185,000
Warehouses
1031 Espee St Bakersfield, CA 93301
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US09-0477970
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1946
Construction
WOOD
Total area
23,085 SF
Lot
0.7 ac (30,491 SF)
Zoning code
M-1
APN
002-213-01-00-9
UPID
US09-0477970
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.14M
Blend (final)
Blend
$2.19M
Owner & transaction history
Mcmurtrey Lince INC · 7 yrs held
Mcmurtrey Lince INC
since 2019
7 recorded transactions
Zoning & alternative use
M-1 · Bakersfield, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bakersfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bakersfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,995,000
Current use
Blend value · Realmo final
$2.19M
Range $1.97M – $2.40M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$95 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,912
Tax year 2023
Assessed value
$820,441
Assessed 2023
Previous assessed
$820,441
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$214,439
Assessed improvement
$606,002
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1946
Construction
WOOD
Heating
YES
Cooling
YES
Total area
23,085 SF
Lot
0.7 ac (30,491 SF)
Zoning code
M-1
APN
002-213-01-00-9
UPID
US09-0477970
Jurisdiction
KERN
Zoning & alternative use
M-1 · Bakersfield, CA
Zoning M-1 · permitted uses
M-1 · Bakersfield, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bakersfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.0M
WAREHOUSE, STORAGE Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1946
Construction
WOOD
Heating
YES
Cooling
Yes
Lot
0.7 ac
Current owner
From public records · entity-resolved
Mcmurtrey Lince INC
Entity
Mailing address
1025 ESPEE ST, BAKERSFIELD, CA 93301-2536
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2019
$615,000
Mcmurtrey Lince INC
Rundle Trust
Grant Deed
$365,000 · Rundle Trust (pt)
May 11, 2012
—
Rundle Trust
Rundle Living Trust
Quit Claim Deed
related
$162,335 · Rabobank
Mar 22, 2007
—
Bill Rundle
Rundle,cheryl A
Affidavit Of Death
related
$300,000 · Rabobank
Aug 25, 2000
$220,000
Rundle Trust
Strange,david
Trustees Deed
$170,000 · Seller
Aug 25, 2000
—
James Strange
Strange,karen S
Quit Claim Deed
related
—
Dec 27, 1991
$75,000
David H Strange
Barnett,george H
Grant Deed
$60,000 · Seller
—
—
Rundle Trust
—
Deed Of Trust
related
$126,000 · Mid State Development
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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