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Property profile & analytics
FOR SALE
Retail space
1701 23Rd St Bakersfield, CA 93301
Entity Owned
Free & Clear
Property ID
US09-3199124
For Sale
1 / 2
Contact for pricing
1701 23Rd St, Bakersfield, CA 93301
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Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1999
Construction
WOOD
Total area
16,770 SF
Lot
1.6 ac (69,696 SF)
Zoning code
C-C
APN
005-401-07-00-9
UPID
US09-3199124
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.47M
Comparable Approach
Comparable
$2.18M
Blend (final)
Blend
$2.24M
Owner & transaction history
Pav Dev 1 LLC
Pav Dev 1 LLC
since 2026
2 recorded transactions
Zoning & alternative use
C-C · Bakersfield, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The C-C zone is intended for those areas in the city that are planned for large-scale mixed use development centers consisting of commercial and high density residential uses with a minimum density of 20.1 dwelling units an acre
Zone name
Civic Center
General category
MIXED_USE
Zone area
216.33 ac
Source
Realmo
Top alternative use upside
Office building
$3.3M
+22.7%
Apartment house (5+ units)
$2.9M
+7.4%
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%
$2,675,000
6.5%
$2,470,000
7%
$2,295,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,715,000
Current use
OFFICE BUILDING
$3,330,000
Change: +23% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,915,000
Change: +7% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,360,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$2.24M
Range $2.02M – $2.46M · ±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
$134 / 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
$54,942
Tax year 2023
Assessed value
$4,143,829
Assessed 2023
Previous assessed
$4,143,829
+0.0% YoY
Effective rate
1.33%
On assessed value
Assessed land
$1,657,528
Assessed improvement
$2,486,301
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1999
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Total area
16,770 SF
Lot
1.6 ac (69,696 SF)
Zoning code
C-C
APN
005-401-07-00-9
UPID
US09-3199124
Jurisdiction
KERN
Zoning & alternative use
C-C · Bakersfield, CAZoning 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
Zoning description
The C-C zone is intended for those areas in the city that are planned for large-scale mixed use development centers consisting of commercial and high density residential uses with a minimum density of 20.1 dwelling units an acre
Zone name
Civic Center
General category
MIXED_USE
Zone area
216.33 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.7M
OFFICE BUILDING
Est. value
$3.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.4M
RETAIL STORES Current
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1999
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
1.6 ac
Current owner
From public records · entity-resolved
Pav Dev 1 LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 3165, HARRISBURG, PA 17105-3165
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2026
—
Pav Dev 1 LLC
Pavilion Development One
Quitclaim Deed
related
—
Jan 29, 2026
—
Pavilion Development One
Pavilion Development Two
Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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