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Property profile & analytics
OFF-MARKET
Estimated value
$12,640,000
Medical Office Space
2901 Sillect Ave Bakersfield, CA 93308-6371
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US09-3276827
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2006
Construction
WOOD
Total area
37,784 SF
Lot
0.76 ac (33,105 SF)
Zoning code
PCD
APN
332-580-25-00-2
UPID
US09-3276827
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
-
Niraj Doctor MD Physician
-
Peter Ashjian Physician Medical Clinic
-
Ngozi Igbinosa Physician
-
Chioma Ugoh Physician
-
Dr. Sukhpreet Sidhu Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.84M
CAP Approach
CAP
$7.75M
Comparable Approach
Comparable
$11.54M
Blend (final)
Blend
$12.64M
Owner & transaction history
Trea Bhh Sm LLC · 5 yrs held
Trea Bhh Sm LLC
since 2021
Last sale
$16.6M
3 recorded transactions
Zoning & alternative use
PCD · Bakersfield, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The planned commercial development zone is intended to allow for innovative design and diversification in the relationship of various uses, buildings, structures, lot sizes and open spaces while ensuring compliance with the general plan and the intent of the municipal code
Zone name
Planned Commercial Development
General category
COMMERCIAL
Zone area
527.30 ac
Source
Realmo
Top alternative use upside
Restaurant
$15.3M
+77.1%
Neighborhood: shopping center
$13.0M
+50.9%
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
$9,835,000
CAP Approach
CAP Return
Estimation
6%
$8,390,000
6.5%
$7,745,000
7%
$7,190,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$8,640,000
Current use
RESTAURANT
$15,295,000
Change: +77% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$13,035,000
Change: +51% · Conversion: Difficult
OFFICE BUILDING
$7,980,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$12.64M
Range $11.38M – $13.90M · ±10% · vs last sale $16.60M (Mar 25 2021)
Last sale anchor
$16.60M
Mar 25 2021
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
$335 / 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
$168,230
Tax year 2023
Assessed value
$14,125,510
Assessed 2023
Previous assessed
$14,125,510
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$379,746
Assessed improvement
$13,745,764
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2006
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Stories
2
Total area
37,784 SF
Lot
0.76 ac (33,105 SF)
Zoning code
PCD
APN
332-580-25-00-2
UPID
US09-3276827
Jurisdiction
KERN
Zoning & alternative use
PCD · Bakersfield, CAZoning PCD · permitted uses
PCD · Bakersfield, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The planned commercial development zone is intended to allow for innovative design and diversification in the relationship of various uses, buildings, structures, lot sizes and open spaces while ensuring compliance with the general plan and the intent of the municipal code
Zone name
Planned Commercial Development
General category
COMMERCIAL
Zone area
527.30 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$8.6M
RESTAURANT
Est. value
$15.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$13.0M
OFFICE BUILDING
Est. value
$8.0M
MEDICAL BUILDING Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
2006
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.76 ac
Current owner
From public records · entity-resolved
Trea Bhh Sm LLC
Entity
Mailing address
2 S BISCAYNE BLVD STE #2000, MIAMI, FL 33131-1827
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 25, 2021
$16,600,000
Trea Bhh Sm LLC
Physicians Development LLC
Grant Deed
$17,366 · Cit Bank NA
Nov 4, 2016
—
Physicians Development LLC
—
Deed
related
$2,500,000 · Valley Republic Bank
—
—
Physicians Dev LLC
—
Deed Of Trust
related
$6,000,000 · West Coast Life Insurance
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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