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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2409 Steele Ave Bakersfield, CA 93307-2053

    • Warehouses
    • 2,400 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    Apr 22, 2022
    $205,000
    Value Estimations
    $385,000
    Show details
    Cap Rate Potential
    9.8%
    Warehouses
    Location Intelligence
    Property ID
    US09-2738435
    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

    • James Hudgens Air Conditioning / Air Conditioning Contractor

    Property Details for 2409 Steele Ave

    Year built
    1974
    Construction
    WOOD
    Lot size
    0.16 lot acres
    Property size
    2,400 SF
    Zone code
    M1
    Property type
    Warehouses
    APN
    137-310-17-00-7
    APU
    13731017007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $305,000
      ML approach
      $245,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $500,000
      6.5%
      $465,000
      7%
      $430,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $455,000
      Market price range: $160k - $725k
      AI Estimate
      $200,000
      Market price range: $77.2k - $344k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $415,000
      Current use
      OFFICE BUILDING
      $505,000
      Change: +22% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $330,000
      Change: -20% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -118.964
    Latitude
    35.3697
    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
    $2,383
    $71,400
    $137,700
    $209,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,251,000 SF

      Belle Ter

      Distribution properties • 2,251,000 SF
      0 Belle Ter, Bakersfield, CA 93307
      View Details
    • Value Estimation
      $275,000
      0.92 Acres

      Bakersfield, CA 93307

      WAREHOUSE, STORAGE • 0.92 Acres
      Bakersfield, CA 93307
      View Details
    • Value Estimation
      $255,000
      0.38 Acres

      3209 Edison Hwy

      STORAGE YARD (JUNK, SALVAGE) • 0.38 Acres
      3209 Edison Hwy, Bakersfield, CA 93307-2232
      View Details
    • Value Estimation
      $285,000
      0.25 Acres

      28 Pacheco Rd

      STORAGE YARD (JUNK, SALVAGE) • 0.25 Acres
      28 Pacheco Rd, Bakersfield, CA 93307
      View Details
    • Value Estimation
      $250,000
      0.71 Acres

      2051 Un Ave

      WAREHOUSE, STORAGE • 0.71 Acres
      2051 Un Ave, Bakersfield, CA 93307
      View Details
    • Value Estimation
      $250,000
      1.96 Acres

      1516 California Ave

      WAREHOUSE, STORAGE • 1.96 Acres
      1516 California Ave, Bakersfield, CA 93307
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      128.07 Acres

      Bakersfield Logistics Center

      Massive Industrial Space: Sale/Lease
      0 Belle Ter, Bakersfield, CA 93307
      View Details
    • $6,295,000
      245,000 SF

      Industrial Warehouse Buildings on 14 Acres

      245,000 SF industrial warehouse buildings in Bakersfield, California.
      120 Washington St, Bakersfield, CA 93307
      View Details
    • $6,000,000
      64,875 SF

      Bakersfield Industrial Portfolio Sale

      Two Warehouses, 64,875 SF, $6M
      3925 Brundage Ln, Bakersfield, CA 93307
      View Details
    • $2,000,000
      22,500 SF

      Cold Storage Facility, Bakersfield CA

      Prime Cold Storage Facility, 22,500 SF
      13649 Weedpatch Hwy, Bakersfield, CA 93307
      View Details
    • $2,225,000
      18.46 Acres

      Bakersfield Industrial Land Investment

      18.46 Acres, M-2PD Zoning, Highway 58 Access
      7548 Dimiller Dr, Bakersfield, CA 93307
      View Details
    • $3,742,675
      14.32 Acres

      Bakersfield Industrial Land - Highway 58

      14.32 Acres, M2 PD Zoning, Prime Location
      0 Brundage Ln & Vineland Rd, Bakersfield, CA 93307
      View Details

    Similar Nearby for Lease

    • $0.07 SF/Yr
      33,000 SF

      Bakersfield Warehouse Space Available

      Industrial warehouse, multiple spaces, 12 acres
      8319 Kimber Ave, Bakersfield, CA 93307
      View Details
    • $0.90 SF/Yr
      4,000 SF

      Bakersfield Warehouse Space Available

      4,000 square foot warehouse space for rent in Bakersfield.
      157 Panama Rd, Bakersfield, CA 93307
      View Details
    • Contact for pricing
      1,012,185 SF

      Bakersfield Warehouse: Huge Opportunity

      Massive single-tenant warehouse in prime location.
      0 Nwc Of Hosking Ave & H St, Bakersfield, CA 93307
      View Details
    • $0.65 SF/Yr
      15,250 SF

      Bakersfield Warehouse with Fenced Parking

      15,250 SF warehouse featuring fenced staff parking.
      201 Mount Vernon Ave, Bakersfield, CA 93307
      View Details
    • $1.00 SF/Yr
      7,200 SF

      Industrial Facility with Rail Spur

      Industrial facility with rail access, truck yard, and fueling.
      7548 Dimiller Dr, Bakersfield, CA 93307
      View Details
    • $7 SF/Yr
      2,251,000 SF

      58 Logistics Center: Bakersfield, CA

      Massive Industrial Warehouse Space: Sale/Lease
      0 Belle Ter, Bakersfield, CA 93307
      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.
    2409 Steele Ave
    Bakersfield, CA 93307-2053
    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.