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Property profile & analytics
OFF-MARKET
Estimated value
$1,695,000
Office buildings
1518 Ml Rock Way Bakersfield, CA 93311-1349
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US09-2853052
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2004
Construction
WOOD
Total area
12,060 SF
Lot
1.03 ac (44,866 SF)
Zoning code
C-O
APN
390-060-25-00-5
UPID
US09-2853052
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
-
Fresno Pacific University Bakersfield Campus Private University University
-
Watson Realty Real Estate Agency
-
Western Energy Production Electric Utility Company Government
-
Martinez Real Estate Group Real Estate Agency
-
The Producers Real Estate Team Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.34M
Blend (final)
Blend
$1.70M
Owner & transaction history
Mill Rock LLC · 18 yrs held
Mill Rock LLC
since 2007
6 recorded transactions
Zoning & alternative use
C-O · Bakersfield, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.8M
+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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,545,000
Current use
MEDICAL BUILDING
$2,755,000
Change: +8% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,290,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$1.70M
Range $1.53M – $1.86M · ±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
$141 / 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
$34,752
Tax year 2023
Assessed value
$2,804,742
Assessed 2023
Previous assessed
$2,804,742
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$866,661
Assessed improvement
$1,938,081
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
2004
Construction
WOOD
Heating
YES
Cooling
OTHER
Stories
1
Total area
12,060 SF
Lot
1.03 ac (44,866 SF)
Zoning code
C-O
APN
390-060-25-00-5
UPID
US09-2853052
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
$2.5M
MEDICAL BUILDING
Est. value
$2.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.3M
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
2004
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
1.03 ac
Current owner
From public records · entity-resolved
Mill Rock LLC
Entity
Mailing address
PO BOX 14060, SAN LUIS OBISPO, CA 93406-4060
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 12, 2007
—
Mill Rock LLC
Gregorio Investments INC
Grant Deed
$2,100,000 · Rabobank
Mar 14, 2007
$2,178,000
Gregorio Investments INC
Cambridge Inv Properties LLC
Grant Deed
—
—
—
Cambridge Investment Props LLC
—
Deed Of Trust
related
$705,000 · Mid State Development
—
—
Barr,richard W & Sharon L
—
Deed Of Trust
related
$252,000 · Cmg Fin'l
—
—
Cambridge Investment Props LLC
—
Deed Of Trust
related
$256,795 · Scott Hacker
—
—
Cambridge Investment Props LLC
—
Deed Of Trust
related
$144,145 · Louie Gregorio
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.
Try Rey
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