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    2649 Calloway Dr Bakersfield, CA 93312-2611

    • Drive through restaurants
    • 3,131 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1662174
    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

    • Freddy's Frozen Custard & Steakburgers / Fast Food Restaurant

    Property Details for 2649 Calloway Dr

    Year built
    1991
    Construction
    WOOD
    Lot size
    0.24 lot acres
    Property size
    3,131 SF
    Zone code
    C2
    Property type
    Drive through restaurants
    APN
    450-052-33-00-6
    APU
    45005233006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $545,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $731,000
      Market price range: $170k - $731k

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

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.11
    Latitude
    35.3853
    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
    $32,253
    $462,070
    $2,246,824
    $2,708,894
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $335,000
      2,654 SF

      8320 Rosedale Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,654 SF
      8320 Rosedale Hwy, Bakersfield, CA 93312-2167
      View Details
    • Value Estimation
      $3,160,000
      2,940 SF

      11935 Rosedale Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,940 SF
      11935 Rosedale Hwy, Bakersfield, CA 93312
      View Details
    • Value Estimation
      $365,000
      2,475 SF

      10050 Rosedale Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,475 SF
      10050 Rosedale Hwy, Bakersfield, CA 93312-2603
      View Details
    • Value Estimation
      $330,000
      3,191 SF

      9180 Rosedale Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,191 SF
      9180 Rosedale Hwy, Bakersfield, CA 93312-2143
      View Details
    • Value Estimation
      $235,000
      0.64 Acres

      8270 Rosedale Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 0.64 Acres
      8270 Rosedale Hwy, Bakersfield, CA 93312-2163
      View Details
    • Value Estimation
      $305,000
      887 SF

      9531 Rosedale Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 887 SF
      9531 Rosedale Hwy, Bakersfield, CA 93312-2147
      View Details

    Similar Nearby for Sale

    • $125,000
      3,056 SF

      Bakersfield Smoke Shop Business

      Thriving Smoke Shop, High Traffic Location
      9517 Rosedale Hwy, Bakersfield, CA 93312
      View Details
    • $1,595,000
      2,782 SF

      Bakersfield Commercial Property on Rosedale

      1.12-acre C-2 property with frontage on Rosedale Highway.
      9831 Rosedale Hwy, Bakersfield, CA 93312
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    • $125,000
      3,056 SF

      Established Smoke Shop Business

      Successful smoke shop business in a high-traffic Bakersfield location.
      9517 Rosedale Hwy, Bakersfield, CA 93312
      View Details
    • $2,245,800
      7,880 SF

      Retail Space on Calloway Drive

      Retail property in a heavily trafficked corridor in Bakersfield.
      3015 Calloway Dr, Bakersfield, CA 93312
      View Details
    • $3,600,000
      12,632 SF

      Multi-Tenant Office Building For Sale

      12,632 SF multi-tenant office building 100% leased in Bakersfield, CA.
      8302 Espresso Dr, Bakersfield, CA 93312
      View Details
    • $995,000
      0.56 Acres

      Bakersfield Commercial Land

      0.56-acre C-2 zoned lot, prime retail location.
      2500 Calloway Dr, Bakersfield, CA 93312
      View Details

    Similar Nearby for Lease

    • $975 /Mo
      12,632 SF

      Bakersfield Commercial Lot for Rent

      Fenced and gated lot near Rosedale Highway and Calloway Drive.
      2409 Calloway Dr, Bakersfield, CA 93312
      View Details
    • Contact for pricing
      32,903 SF

      Hageman Road Retail Center

      Bakersfield retail space, multiple units available.
      10500-10618 Hageman Rd, Bakersfield, CA 93312
      View Details
    • Contact for pricing
      10,000 SF

      Bakersfield Retail Space Available

      Prime Northwest Bakersfield retail shop space.
      3250 Coffee Rd, Bakersfield, CA 93312
      View Details
    • Contact for pricing
      14,000 SF

      Bakersfield Retail Center - Prime Location

      Two Suites Available, High Traffic Area
      8123 Brimhall Rd, Bakersfield, CA 93312
      View Details
    • Contact for pricing
      9,085 SF

      Riverlakes Retail Center Investment

      Bakersfield retail space, prime location.
      9440 Hageman Rd, Bakersfield, CA 93312
      View Details
    • Contact for pricing
      3,375 SF

      Retail Space in Rosedale Village

      Community shopping center space in Northwest Bakersfield trade area.
      2765 Calloway Dr, Bakersfield, CA 93312
      View Details
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    2649 Calloway Dr
    Bakersfield, CA 93312-2611
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    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
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