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Property profile & analytics
OFF-MARKET
Estimated value
$24,220,000
Distribution centers
255 Driver Rd Shafter, CA 93263-4042
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1736804
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2018
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
203,967 SF
Lot
34.98 ac (1,523,728 SF)
Zoning code
INDUS
APN
091-040-76-00-7
UPID
US09-1736804
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$24.22M
Owner & transaction history
Kenneth O Lester Company INC · 4 yrs held
Kenneth O Lester Company INC
since 2021
4 recorded transactions
Zoning & alternative use
INDUS · Shafter, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$32.5M
+22.9%
Apartment house (5+ units)
$31.1M
+17.8%
Retail stores
$29.0M
+9.7%
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 Shafter submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shafter 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$26,440,000
Current use
AUTO REPAIR, GARAGE
$32,490,000
Change: +23% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$31,140,000
Change: +18% · Conversion: Difficult
RETAIL STORES
$29,000,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$24.22M
Range $21.80M – $26.64M · ±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
$119 / 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
$341,335
Tax year 2023
Assessed value
$29,666,865
Assessed 2023
Previous assessed
$29,666,865
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$1,875,699
Assessed improvement
$27,791,166
Applied tax rate
6.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2018
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
2
Total area
203,967 SF
Lot
34.98 ac (1,523,728 SF)
Zoning code
INDUS
APN
091-040-76-00-7
UPID
US09-1736804
Jurisdiction
KERN
Zoning & alternative use
INDUS · Shafter, CA
Zoning INDUS · permitted uses
INDUS · Shafter, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shafter. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$26.4M
AUTO REPAIR, GARAGE
Est. value
$32.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$31.1M
RETAIL STORES
Est. value
$29.0M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2018
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
2
Lot
34.98 ac
Current owner
From public records · entity-resolved
Kenneth O Lester Company INC
Entity
Mailing address
245 N CASTLE HTS AVE, LEBANON, TN 37087-2741
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 29, 2021
—
Kenneth O Lester Company INC
—
Deed
related
—
Jan 2, 2020
—
Kenneth O Lester Co INC
—
Loan Modification
related
—
May 31, 2016
—
Kenneth O Lester Company INC
—
Deed
related
$240,000,000 · Wells Fargo Bank NA
—
—
Kenneth O Lester Co INC
—
Deed Of Trust
related
$750,000 · Credit Suisse Ag
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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