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Property profile & analytics
OFF-MARKET
Estimated value
$2,425,000
Office buildings
1502 Ml Rock Way Bakersfield, CA 93311-1348
Individually Owned
~
Est. High Equity
Property ID
US10-2870478
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2005
Construction
WOOD
Total area
15,978 SF
Lot
0.99 ac (43,124 SF)
Zoning code
C-O
APN
390-060-30-00-9
UPID
US10-2870478
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
-
Gameday Men's Health Central Bakersfield TRT Clinic Medical Clinic
-
Wayne Long & Co Tax Preparation
-
Lenox Homes Construction Company General Contractor
-
Klassen and Smith Construction Inc. Construction Company General Contractor
-
Realtors Garcia Lorenzo and Associates Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.39M
Comparable Approach
Comparable
$1.54M
Blend (final)
Blend
$2.43M
Owner & transaction history
Wayne E Long
Wayne E Long
since 2025
7 recorded transactions
Zoning & alternative use
C-O · Bakersfield, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.7M
+8.3%
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%
$3,670,000
6.5%
$3,390,000
7%
$3,145,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,375,000
Current use
MEDICAL BUILDING
$3,655,000
Change: +8% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$3,035,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$2.43M
Range $2.18M – $2.67M · ±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
$152 / 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
$54,900
Tax year 2023
Assessed value
$4,455,923
Assessed 2023
Previous assessed
$4,455,923
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$798,347
Assessed improvement
$3,657,576
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
2005
Construction
WOOD
Heating
YES
Cooling
OTHER
Stories
2
Total area
15,978 SF
Lot
0.99 ac (43,124 SF)
Zoning code
C-O
APN
390-060-30-00-9
UPID
US10-2870478
Jurisdiction
KERN
Zoning & alternative use
C-O · Bakersfield, CA
Zoning C-O · permitted uses
C-O · 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
OFFICE BUILDING Current
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$3.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.0M
OFFICE BUILDING Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
2005
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Lot
0.99 ac
Current owner
From public records · entity-resolved
Wayne E Long
Individual
Mailing address
206 FAIRWAY DR, BAKERSFIELD, CA 93309-2463
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 17, 2025
—
Wayne E Long
Wayne And Joy Long Family Trust
Deed
—
May 19, 2017
—
Long,wayne & Joy Family Trust
—
Deed
related
$3,000,000 · Tri Counties Bank
Dec 28, 2016
—
Long,wayne & Joy Family Trust
Long Family Trust
Quit Claim Deed
related
—
Oct 24, 2008
$3,600,000
Long Family Trust
Pm 9542 Mill Rock LLC
Grant Deed
$2,600,000 · Tri Counties Bank
May 13, 2004
—
Pm 9542 Mill Rock LLC
—
Trustees Deed
related
$1,800,000 · United Security Bank
Dec 23, 2003
—
Pm 9542 Mill Rock LLC
Stuart Thomas INC
Grant Deed
related
—
May 2, 2002
$347,500
Stuart Thomas INC
Kranmar Co
Grant Deed
—
—
—
Stuart Thomas INC
—
Deed Of Trust
related
$360,000 · Normal Development Retirement
—
—
Long,wayne & Joy Family Trust
—
Deed Of Trust
related
$3,000,000 · Tri Counties Bank
—
—
Stuart Thomas INC
—
Deed Of Trust
related
$100,000 · San Joaquin Bank
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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