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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Sports & entertainment properties
2231 R St Bakersfield, CA 93301-2928
Entity Owned
1-yr Hold
Free & Clear
Property ID
US10-3145679
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
1937
Construction
WOOD
Total area
10,560 SF
Lot
0.4 ac (17,424 SF)
Zoning code
M1
APN
005-241-01-00-5
UPID
US10-3145679
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
-
Blue Sky Media Advertising Agency Marketing & Advertising
-
Extraordinaire Marketing & Advertising Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$515k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$713k
Blend (final)
Blend
$615k
Owner & transaction history
Bakersfield Music Hall Of Fame LLC · 1 yrs held
Bakersfield Music Hall Of Fame LLC
since 2024
6 recorded transactions
Zoning & alternative use
M1 · Bakersfield, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$950,000
+117.9%
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
$515,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RECREATIONAL/ENTERTAINMENT (GENERAL)
$435,000
Current use
RETAIL STORES
$950,000
Change: +118% · Conversion: Difficult
Blend value · Realmo final
$615k
Range $554k – $677k · ±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
$58 / 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
$21,885
Tax year 2023
Assessed value
$1,795,445
Assessed 2023
Previous assessed
$1,795,445
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$75,084
Assessed improvement
$1,720,361
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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
1937
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Total area
10,560 SF
Lot
0.4 ac (17,424 SF)
Zoning code
M1
APN
005-241-01-00-5
UPID
US10-3145679
Jurisdiction
KERN
Zoning & alternative use
M1 · Bakersfield, CA
Zoning M1 · permitted uses
M1 · 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
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$435,000
RETAIL STORES
Est. value
$950,000
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
RETAIL STORES
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
1937
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
Bakersfield Music Hall Of Fame LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2231 R ST, BAKERSFIELD, CA 93301-2928
Ownership since
2024
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
Dec 5, 2024
—
Bakersfield Music Hall Of Fame LLC
Knudsen Road Properties LLC
Grant Deed
—
Mar 18, 2015
$1,150,000
Knudsen Road Properties LLC
Cbp Properties LLC
Grant Deed
$1,275,000 · Citizens Business Bank
Mar 27, 2008
—
Burwell Properties LLC
Burwell,gary
Quit Claim Deed
$1,340,000 · Bank Of The Sierra
Feb 14, 2007
$580,000
Gary Burwell
Harrell R D & A Trust
Grant Deed
—
Feb 5, 2007
—
Harrell Robert D & Alice Trust
Harrell,robert D & Alice
Quit Claim Deed
related
—
—
—
Burwell Properties LLC
—
Deed Of Trust
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.
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