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Property profile & analytics
OFF-MARKET
Estimated value
$1,090,000
Medical Office Space
1201 23rd St Bakersfield, CA 93301-2306
Individually Owned
30-yr Hold
~
Est. High Equity
Property ID
US09-3063562
Property summary
AI-generated overview
This exceptional 5,263 square foot storefront, located at 1201 23rd Street in Bakersfield, California, presents a compelling investment opportunity. Built in 1965 and situated on a 0.32-acre lot, the property boasts a highly desirable C-C zoning designation. Its prime location between heavily trafficked 23rd and M Streets places it within easy reach of a substantial workforce
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1965
Construction
WOOD
Total area
5,208 SF
Lot
0.32 ac (13,939 SF)
Zoning code
C-C
APN
005-421-04-00-6
UPID
US09-3063562
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
Current use
Occupant on record · Public records
-
Glinn & Giordano Physical Therapy Medical Clinic
-
Giordano Daniel R Physician
-
Steven Jelmini Physician
-
Joshu Diebel Physician
-
Kurt Wingate Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.03M
CAP Approach
CAP
$1.07M
Comparable Approach
Comparable
$889k
Blend (final)
Blend
$1.09M
Owner & transaction history
Gg&w · 30 yrs held
Gg&w
since 1996
Last sale
$1.3M
4 recorded transactions
Zoning & alternative use
C-C · Bakersfield, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.8M
+49.1%
Auto repair, garage
$1.7M
+41.8%
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
$1,045,000
ML approach
$1,025,000
CAP Approach
CAP Return
Estimation
6%
$1,155,000
6.5%
$1,065,000
7%
$990,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,205,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,795,000
Change: +49% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,710,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$1,035,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$1.09M
Range $981k – $1.20M · ±10% · vs last sale $1.25M (Feb 24 2025)
Last sale anchor
$1.25M
Feb 24 2025
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
$209 / 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
$5,225
Tax year 2023
Assessed value
$423,112
Assessed 2023
Previous assessed
$423,112
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$159,663
Assessed improvement
$263,449
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1965
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Total area
5,208 SF
Lot
0.32 ac (13,939 SF)
Zoning code
C-C
APN
005-421-04-00-6
UPID
US09-3063562
Jurisdiction
KERN
Zoning & alternative use
C-C · Bakersfield, CA
Zoning C-C · permitted uses
C-C · 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
MEDICAL BUILDING Current
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.0M
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1965
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Gg&w
Individual
Mailing address
1201 23RD ST, BAKERSFIELD, CA 93301-2306
Ownership since
1996
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 1996
$265,000
Gg&w
Katherine B Podlech Trustee
Grant Deed
$391,500 · Zions First National Bank
May 30, 1996
—
Kurt T Wingate
Wingate,stacy B
Quit Claim Deed
related
—
Oct 13, 1995
—
Podlech Trust
Katharine Podlech Trustee
Quit Claim Deed
related
—
—
—
Gg
—
Deed Of Trust
related
$179,000 · 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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