Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2115 G St Bakersfield, CA 93301

    • Commercial real estate
    • 6,010 SF
    • 0.21 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2544699
    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

    • Commercial real estate

    Property Details for 2115 G St

    Year built
    2006
    Lot size
    0.21 lot acres
    Property size
    6,010 SF
    Property type
    Commercial real estate
    APN
    003-222-07 & 003-222-08

    Description

    This fee-simple multifamily investment opportunity in Bakersfield, CA, presents a 12-unit apartment building with significant upside potential. Located at 2115 G St, in the heart of downtown, near the Fox Theatre and Padre Hotel, this property consists of two buildings on two contiguous parcels (APN: 003-222-07 & 003-222-08), totaling 6,010 square feet on a 0.21-acre lot. The property includes eight units built in 2006 and four units built in 1968, all one-bedroom, one-bathroom units. The property boasts a current 100% occupancy rate, generating a Net Operating Income (NOI) of $106,505, with a current cap rate of 5.76%. A pro-forma NOI of $122,228 and a pro-forma cap rate of 6.61% reflect the potential for increased revenue after completing renovations on seven units. Five units have already been remodeled to current market standards. The property is zoned C and offers two parking pads. The asking price is $1,850,000 ($154,167 per unit, $307.82 per square foot). This stabilized investment is ideal for a 1031 exchange. The recent 2023 renovations provide a strong foundation for immediate cash flow and future growth. High rental demand in this prime downtown location ensures a strong return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.0227056
    Latitude
    35.3786064

    Comparable in this City

    • New
      $850,000
      890 SF

      New Bakersfield Multifamily Investment Property

      Turnkey, fully occupied 4-unit apartment with solar and gated entry.
      3208 Jewett Ave, Bakersfield, CA 93301
      View Details
    • $530,000
      2,685 SF

      Well-Maintained Duplex with Spacious Units

      Duplex with spacious units, hardwood floors, and outdoor courtyard.
      2310 B St, Bakersfield, CA 93301
      View Details
    • $359,000

      Turn-Key Dual-Unit Investment Property

      Dual-unit property with immediate income potential in Bakersfield, CA.
      3519 Jewett Ave, Bakersfield, CA 93301
      View Details
    • $450,000
      2,632 SF

      Mixed-Use Property with Music Studio

      Mixed-use property featuring a professional music studio and residential unit.
      931 26Th St, Bakersfield, CA 93301
      View Details
    • $525,000
      0.33 Acres

      Bakersfield Industrial Property

      ±6,000 SF Warehouse, Excellent Location
      1101 34Th St, Bakersfield, CA 93301
      View Details
    • $785,000
      3,935 SF

      Downtown Bakersfield Mixed-Use Gem

      Historic building, prime location, turnkey business opportunity.
      1701 F St, Bakersfield, CA 93301
      View Details

    Similar Nearby for Sale

    • New
      $850,000
      890 SF

      New Bakersfield Multifamily Investment Property

      Turnkey, fully occupied 4-unit apartment with solar and gated entry.
      3208 Jewett Ave, Bakersfield, CA 93301
      View Details
    • $530,000
      2,685 SF

      Well-Maintained Duplex with Spacious Units

      Duplex with spacious units, hardwood floors, and outdoor courtyard.
      2310 B St, Bakersfield, CA 93301
      View Details
    • $359,000

      Turn-Key Dual-Unit Investment Property

      Dual-unit property with immediate income potential in Bakersfield, CA.
      3519 Jewett Ave, Bakersfield, CA 93301
      View Details
    • $450,000
      2,632 SF

      Mixed-Use Property with Music Studio

      Mixed-use property featuring a professional music studio and residential unit.
      931 26Th St, Bakersfield, CA 93301
      View Details
    • $525,000
      0.33 Acres

      Bakersfield Industrial Property

      ±6,000 SF Warehouse, Excellent Location
      1101 34Th St, Bakersfield, CA 93301
      View Details
    • $785,000
      3,935 SF

      Downtown Bakersfield Mixed-Use Gem

      Historic building, prime location, turnkey business opportunity.
      1701 F St, Bakersfield, CA 93301
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      14,750 SF

      Bakersfield Retail Space - 14,750 SF

      Former Walgreens, prime Bakersfield location. 14,750 SF available.
      40 Chester Ave, Bakersfield, CA 93301
      View Details
    • $21 SF/Yr
      42,113 SF

      1707 Eye St

      Office space • 42,113 SF
      1707 Eye St, Bakersfield, CA 93301
      View Details
    • Contact for pricing
      79,715 SF

      Bakersfield Commercial Land - 1.83 Acres

      Prime Downtown Bakersfield Lot, C-2 Zoning
      920 34Th St, Bakersfield, CA 93301
      View Details
    • $15 SF/Yr
      16,730 SF

      Westwind Business Center Warehouse Space

      Bakersfield warehouse, 1,415 sq ft available.
      2015 Westwind Dr, Bakersfield, CA 93301
      View Details
    • Contact for pricing
      1,040 SF

      Downtown Bakersfield Retail Spaces Available

      Retail spaces available in downtown Bakersfield community shopping center.
      1201 24Th 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
    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.
    2115 G St
    Bakersfield, CA 93301
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.