Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1505 Ml Rock Way Bakersfield, CA 93311-1346
    Back to Search
    Property profile & analytics

    1505 Ml Rock Way, Bakersfield, CA 93311-1346

    View on Map
    • Motels
    • 83,388 SF
    • 3.15 lot acres
    Off-Market
    Last Sale Apr 10, 2024
    $21,990,000
    Property ID
    US09-3103758
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Homewood Suites by Hilton Bakersfield / Hotel & Motel / Vacation Rental

    Property Details for 1505 Ml Rock Way

    Year built
    2004
    Construction
    WOOD
    Lot size
    3.15 lot acres
    Property type
    Motels
    APN
    390-060-31-00-2
    APU
    39006031002

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 10, 2024 $21,990,000 Golden Valley Hospitality LLC Jgbailey Company Millrock Way 2 LLC Grant Deed $15.5M · Bank Of The Sierra
    Aug 9, 2016 — J G Bailey Co Millrock Way-2 L — Deed · related $3.1M · Mid St Dev
    Aug 5, 2016 — J G Bailey Co Millrock Way-2 L — Deed · related $3M · Tri Counties Bank
    Jun 21, 2006 — J G Bailey Co Millrock Way 2 LLC Jimson Investments LLC Grant Deed $12.8M · Countrywide Com Real Estate Fin INC
    Jul 22, 2005 — Jimson Investments LLC Jimson Investments LLC Quit Claim Deed · related $12M · First Regional Bank
    — — J G Bailey Co Millrock Way-2 L — Deed Of Trust · related $10M · Tri Counties Bank
    — — J G Bailey Co Millrock Way-2 L — Deed Of Trust · related $3M · Tri Counties Bank
    — — J G Bailey Co Millrock Way-2 L — Deed Of Trust · related $3.1M · Mid St Dev
    — — Jimson Investments LLC — Deed Of Trust · related $8.3M · San Joaquin Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.099
    Latitude
    35.3414
    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
    $178,807
    $1,577,238
    $12,981,159
    $14,558,397
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1.00 Acre

      Buena Vis Rd @ Bolthouse Dr

      Retail properties & Spaces
      0 Buena Vis Rd @ Bolthouse Dr, Bakersfield, CA 93311
      View Details
    • Value Estimation by Request
      2.70 Acres

      Bakersfield, CA 93311

      VACANT COMMERCIAL LAND
      Bakersfield, CA 93311
      View Details
    • Value Estimation by Request
      1.62 Acres

      9508 Stockdale Hwyc

      PARKING LOT
      9508 Stockdale Hwyc, Bakersfield, CA 93311-3622
      View Details
    • Value Estimation by Request
      2.07 Acres

      Bakersfield, CA 93311

      VACANT COMMERCIAL LAND
      Bakersfield, CA 93311
      View Details
    • Value Estimation by Request
      5.75 Acres

      Bakersfield, CA 93311

      HOMES (RETIRED, NURSING)
      Bakersfield, CA 93311
      View Details
    • Value Estimation by Request
      5.76 Acres

      9831 Howell Dr

      VACANT COMMERCIAL LAND
      9831 Howell Dr, Bakersfield, CA 93311
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Bakersfield Commercial Property I-5 Frontage

      Commercial property with I-5 frontage, ideal for various ventures.
      20405 Taft Hwy, Bakersfield, CA 93311
      View Details
    • $1,200,000
      20.05 Acres

      20-Acre Industrial Land Parcel

      20-acre AG-zoned parcel in Southwest Bakersfield's industrial corridor.
      S Enos Ln, Bakersfield, CA 93311
      View Details
    • $499,000
      20.05 Acres

      20 Acres Agricultural Land, Shop

      20 acres of AG zoned land with existing infrastructure.
      13114 Olen Ave, Bakersfield, CA 93311
      View Details
    • Contact for pricing

      Commercial Parcels in Mixed-Use Development

      Parcels for sale in master-planned commercial development.
      4525 Benchmark Ct, Bakersfield, CA 93311
      View Details
    • Contact for pricing
      3,987 SF

      NNN Property Near CSU Bakersfield

      NNN property across from CSU Bakersfield, offering 6.00% cap rate.
      8500 Ming Ave, Bakersfield, CA 93311
      View Details
    • Contact for pricing

      High-Traffic Area Business Opportunity

      Own a business in a prime, high-traffic location.
      3300 Buena Vista Rd, Bakersfield, CA 93311
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on Ming Avenue

      Retail space available for rent on Ming Avenue, Bakersfield.
      9000 Ming Ave, Bakersfield, CA 93311
      View Details
    • Contact for pricing

      New Single Story Office Building

      New office building in Seven Oaks Business Park for rent.
      4616 Benchmark Ct, Bakersfield, CA 93311
      View Details
    • Contact for pricing

      Class A Office Building

      Four-story office building in desirable Bakersfield submarket.
      900 Old River Rd, Bakersfield, CA 93311
      View Details
    • Contact for pricing
      2,363 SF

      Office Space with Direct Access

      Ground floor office suite with convenient parking and signage.
      1500 Haggin Oaks Blvd, Bakersfield, CA 93311
      View Details
    • Contact for pricing
      17,340 SF

      Retail Space Available For Lease

      17,340 SF retail space on hard corner for lease.
      9700 Panama Ln, Bakersfield, CA 93311
      View Details
    • Contact for pricing
      10,000 SF

      Bakersfield Retail Space For Rent

      10,000 SF retail space available for lease.
      4605 Buena Vista Rd, Bakersfield, CA 93311
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1505 Ml Rock Way
    Bakersfield, CA 93311-1346
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1505 Ml Rock Way, Bakersfield, CA, 93311
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!