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

    1215 L St Bakersfield, CA 93301-4506

    • Office buildings
    • 1,040 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Jan 29, 2021
    $235,000
    Value Estimations
    $360,000
    Show details
    Cap Rate Potential
    3.8%
    Office buildings
    Location Intelligence
    Property ID
    US09-5479239
    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

    • Law Office of Jason D. Westerfeld / Trial Attorney
    • Sobti Law Group / Immigration Attorney / Bankruptcy Attorney
    • Bakersfield Tax Help Right Now / Tax Attorney / Tax Consultant

    Property Details for 1215 L St

    Year built
    1960
    Construction
    WOOD
    Lot size
    0.14 lot acres
    Property size
    1,040 SF
    Zone code
    C-C
    Property type
    Office buildings
    APN
    006-450-10-00-2
    APU
    645010002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $390,000
      ML approach
      $390,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $274,000
      Market price range: $139k - $275k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $360,000
      AUTO REPAIR, GARAGE
      $340,000
      MEDICAL BUILDING
      $240,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.017
    Latitude
    35.369
    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
    $3,118
    $72,828
    $171,666
    $244,494
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $325,000
      0.12 Acres

      Bakersfield, CA 93301

      PROFESSIONAL BUILDING • 0.12 Acres
      Bakersfield, CA 93301
      View Details
    • Value Estimation
      $515,000
      1.30 Acres

      1524 27th St

      PROFESSIONAL BUILDING • 1.30 Acres
      1524 27th St, Bakersfield, CA 93301-2055
      View Details
    • Value Estimation
      $295,000
      1,548 SF

      303 Truxtun Ave

      PROFESSIONAL BUILDING • 1,548 SF
      303 Truxtun Ave, Bakersfield, CA 93301-5313
      View Details
    • Value Estimation
      $305,000
      1,150 SF

      819 18th St

      PROFESSIONAL BUILDING • 1,150 SF
      819 18th St, Bakersfield, CA 93301-4823
      View Details
    • Value Estimation
      $1,170,000
      6,600 SF

      2535 16th St

      PROFESSIONAL BUILDING • 6,600 SF
      2535 16th St, Bakersfield, CA 93301-3417
      View Details
    • Value Estimation
      $50,000
      2,717 SF

      2531 M St

      PROFESSIONAL BUILDING • 2,717 SF
      2531 M St, Bakersfield, CA 93301
      View Details

    Similar Nearby for Sale

    • $1,250,000
      9,000 SF

      Downtown Office For Sale

      Downtown office building with off-street parking for sale.
      1515 20Th St, Bakersfield, CA 93301
      View Details
    • $280,000
      2,123 SF

      Medical Office Condos For Sale

      Two renovated medical office suites near Memorial Hospital.
      3550 Q St, Bakersfield, CA 93301
      View Details
    • New
      $320,000
      1,800 SF

      Bakersfield Commercial Medical/Office Space

      Medical/office space featuring reception and exam rooms in Bakersfield, CA.
      3535 San Dimas St, Bakersfield, CA 93301
      View Details
    • $2,500,000

      Medical Office Building For Sale

      Two-story medical office building near Memorial Hospital, ideal for owner/user.
      6000 Physicians Blvd, Bakersfield, CA 93301
      View Details
    • $280,000
      2,123 SF

      Medical Office Condos For Sale

      Two renovated medical office suites available near Memorial Hospital.
      3550 Q St, Bakersfield, CA 93301
      View Details
    • $2,500,000
      6,676 SF

      Bakersfield Surgery Center For Sale

      Accredited surgery center, turnkey opportunity.
      2725 16Th St, Bakersfield, CA 93301
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    Similar Nearby for Lease

    • $21 SF/Yr
      42,113 SF

      1707 Eye St

      Office space • 42,113 SF
      1707 Eye St, Bakersfield, CA 93301
      View Details
    • $1.00 SF/Yr
      69,236 SF

      Bakersfield Office Space Available

      Office space available for rent in Bakersfield, California.
      401 34Th St, Bakersfield, CA 93301
      View Details
    • $2 SF/Yr
      100 SF

      Second Floor Office Space Available

      Second floor office space suitable for various professional uses.
      1712 19Th St, Bakersfield, CA 93301
      View Details
    • Contact for pricing
      572 SF

      Centrally Located Office Space

      Office space available for lease in a central location.
      1600 20Th St, Bakersfield, CA 93301
      View Details
    • $1.85 SF/Yr
      847 SF

      Class A Office Space Available

      Prime office space in Central Bakersfield with city views.
      1430-1440 Truxtun Ave, Bakersfield, CA 93301
      View Details
    • $4,125,000
      6,173 SF

      Medical Office Suite Available

      Second floor medical office suite available for rent.
      2525 Eye St, Bakersfield, CA 93301
      View Details
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    1215 L St
    Bakersfield, CA 93301-4506
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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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