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Property profile & analytics
OFF-MARKET
Estimated value
$1,090,000
Warehouses
2929 Brundage Ln Bakersfield, CA 93304
Entity Owned
26-yr Hold
Free & Clear
Property ID
US09-2342420
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1988
Construction
WOOD
Total area
7,491 SF
Lot
4.52 ac (196,891 SF)
Zoning code
M-2
APN
167-010-10-00-8
UPID
US09-2342420
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
-
Penske Truck Rental Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.43M
Comparable Approach
Comparable
$861k
Blend (final)
Blend
$1.09M
Owner & transaction history
PENSKE TRUCK LEASING CO
PENSKE TRUCK LEASING CO
Zoning & alternative use
M-2 · Bakersfield, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.7M
+76.4%
Office building
$1.5M
+49.8%
Auto repair, garage
$1.2M
+22.9%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,550,000
6.5%
$1,430,000
7%
$1,325,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$970,000
Current use
MEDICAL BUILDING
$1,715,000
Change: +76% · Conversion: Difficult
OFFICE BUILDING
$1,455,000
Change: +50% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,195,000
Change: +23% · Conversion: Easy
RETAIL STORES
$1,085,000
Change: +12% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,010,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$1.09M
Range $981k – $1.20M · ±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
$146 / 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
$19,014
Tax year 2023
Assessed value
$1,592,034
Assessed 2023
Previous assessed
$1,592,034
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$471,161
Assessed improvement
$1,120,873
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
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
1988
Construction
WOOD
Heating
YES
Cooling
YES
Total area
7,491 SF
Lot
4.52 ac (196,891 SF)
Zoning code
M-2
APN
167-010-10-00-8
UPID
US09-2342420
Jurisdiction
KERN
Zoning & alternative use
M-2 · Bakersfield, CA
Zoning M-2 · permitted uses
M-2 · Bakersfield, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bakersfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$970,000
MEDICAL BUILDING
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$1.0M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1988
Construction
WOOD
Heating
YES
Cooling
Yes
Lot
4.52 ac
Current owner
From public records · entity-resolved
PENSKE TRUCK LEASING CO
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 1321, READING, PA 19603-1321
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
Try Rey
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