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

    2501 Bishop Dr Bakersfield, CA 93306-1006

    • Apartment buildings
    • 10,056 SF
    • 0.36 lot acres
    OFF-MARKET
    Last Sale
    Dec 18, 2024
    $1,615,000
    Value Estimations
    $1,615,000
    Show details
    Cap Rate Potential
    7.3%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-7396693
    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

    • Bishop Apartments / Apartment Building

    Property Details for 2501 Bishop Dr

    Year built
    1960
    Construction
    WOOD
    Lot size
    0.36 lot acres
    Property size
    10,056 SF
    Zone code
    R-3
    Property type
    Apartment buildings
    APN
    382-052-01-00-7
    APU
    38205201007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,615,000
      ML approach
      $1,615,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,970,000
      6.5%
      $1,820,000
      7%
      $1,690,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,854,000
      Market price range: $1.07M - $2.07M
      AI Estimate
      $1,633,000
      Market price range: $400k - $2.12M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,450,000
      Current use
      MEDICAL BUILDING
      $2,300,000
      Change: +58% Conversion: Moderate
      OFFICE BUILDING
      $2,125,000
      Change: +46% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,600,000
      Change: +10% Conversion: Difficult
      RETAIL STORES
      $1,510,000
      Change: +4% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,355,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -118.965
    Latitude
    35.4091
    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
    $19,980
    $114,444
    $1,264,086
    $1,378,530
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $12,390,000
      132,044 SF

      2601 Columbus St

      APARTMENT HOUSE (100+ UNITS) • 132,044 SF
      2601 Columbus St, Bakersfield, CA 93306-2605
      View Details
    • Value Estimation
      $11,360,000
      135,200 SF

      6700 Auburn St

      APARTMENT HOUSE (100+ UNITS) • 135,200 SF
      6700 Auburn St, Bakersfield, CA 93306-2843
      View Details
    • Value Estimation
      $2,480,000
      15,777 SF

      4317 Columbus St

      APARTMENT HOUSE (5+ UNITS) • 15,777 SF
      4317 Columbus St, Bakersfield, CA 93306-1292
      View Details
    • Value Estimation
      $1,985,000
      11,238 SF

      4200 Columbus St

      APARTMENT HOUSE (5+ UNITS) • 11,238 SF
      4200 Columbus St, Bakersfield, CA 93306-1271
      View Details
    • Value Estimation by Request
      4,824 SF

      700 Sterling Rd, Unit AB

      APARTMENT HOUSE (5+ UNITS) • 4,824 SF
      700 Sterling Rd, Bakersfield, CA 93306-6300
      View Details
    • Value Estimation
      $1,065,000
      10,828 SF

      4800 Columbus St

      APARTMENT HOUSE (5+ UNITS) • 10,828 SF
      4800 Columbus St, Bakersfield, CA 93306-1379
      View Details

    Similar Nearby for Sale

    • $339,000
      1,976 SF

      Bakersfield Triplex: Turnkey Investment

      Well-maintained triplex with strong rental income and long-term tenants.
      2512 Niles St, Bakersfield, CA 93306
      View Details
    • $1,950,000
      8,700 SF

      Bakersfield Mixed-Use Redevelopment

      1.76-acre prime retail redevelopment opportunity.
      2503 Niles St, Bakersfield, CA 93306
      View Details
    • $415,000

      Remodeled Duplex in East Bakersfield

      Updated duplex with separate units, yards, and parking.
      603 Hill St, Bakersfield, CA 93306
      View Details
    • $75,000

      Renovated Mobile Home in Bakersfield

      Move-in ready mobile home with updated kitchen and community amenities.
      6601 E Eucalyptus 297, Bakersfield, CA 93306
      View Details
    • Contact for pricing
      63.39 Acres

      Kern Canyon Road Land Development

      63-Acre Residential Land, Bakersfield CA
      0 Kern Canyon Rd, Bakersfield, CA 93306
      View Details
    • $270,000
      882 SF

      Bakersfield Single Family Residence

      Single-family residence in Bakersfield, California, ideal for investment.
      3819 Mitchell Ave, Bakersfield, CA 93306
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,000 SF

      Bakersfield Retail Space For Lease

      Prime Bakersfield storefront, 5,000 sq ft.
      6151 Niles St, Bakersfield, CA 93306
      View Details
    • Contact for pricing
      350,000 SF

      City Lights Retail Power Center

      Highway 178: Prime Retail Space Available
      3000 Mall View Rd, Bakersfield, CA 93306
      View Details
    • $4,800 /Mo

      East Bakersfield Office and Retail

      Office and retail suites available in high-traffic East Bakersfield area.
      624 Morning Dr, Bakersfield, CA 93306
      View Details
    • Contact for pricing
      600,000 SF

      City in the Hills Shopping Center

      Bakersfield Retail Space - Prime Location
      178 And Masterson Dr, Bakersfield, CA 93306
      View Details
    • $3 SF/Yr
      4,867 SF

      Medical Office Space Available

      Medical office space for rent in Bakersfield, CA.
      4500 Morning Dr, Bakersfield, CA 93306
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space in East Hills

      Retail spaces available in high-visibility East Hills Mall area.
      3401 Mall View Rd, Bakersfield, CA 93306
      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.
    2501 Bishop Dr
    Bakersfield, CA 93306-1006
    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.