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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    323 Norma St Ridgecrest, CA 93555-4516

    • Apartment buildings
    • 4,022 SF
    • 0.39 lot acres
    OFF-MARKET
    Last Sale
    Jan 22, 2020
    $271,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2142139
    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

    • Apartment buildings

    Property Details for 323 Norma St

    Year built
    1946
    Construction
    WOOD
    Lot size
    0.39 lot acres
    Property size
    4,022 SF
    Property type
    Apartment buildings
    APN
    477-060-03-00-3
    APU
    47706003003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ridgecrest
    County
    Kern
    State
    California
    Longitude
    -117.679
    Latitude
    35.6179
    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
    $5,892
    $13,663
    $271,202
    $284,865
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $7,390,000
      73,627 SF

      400 Mojave Vw Ave

      APARTMENT HOUSE (5+ UNITS) • 73,627 SF
      400 Mojave Vw Ave, Ridgecrest, CA 93555-3418
      View Details
    • Value Estimation
      $4,160,000
      46,388 SF

      501 Drummond Ave

      APARTMENT HOUSE (5+ UNITS) • 46,388 SF
      501 Drummond Ave, Ridgecrest, CA 93555-3133
      View Details
    • Value Estimation
      $775,000
      6,100 SF

      Ridgecrest, CA 93555

      APARTMENT HOUSE (5+ UNITS) • 6,100 SF
      Ridgecrest, CA 93555
      View Details
    • Value Estimation
      $780,000
      6,100 SF

      Ridgecrest, CA 93555

      APARTMENT HOUSE (5+ UNITS) • 6,100 SF
      Ridgecrest, CA 93555
      View Details
    • Value Estimation
      $555,000
      5,811 SF

      4423 Johnston Ave

      APARTMENT HOUSE (5+ UNITS) • 5,811 SF
      4423 Johnston Ave, Ridgecrest, CA 93555-8356
      View Details
    • Value Estimation
      $705,000
      7,816 SF

      525 Ridgecrest Blvd

      APARTMENT HOUSE (5+ UNITS) • 7,816 SF
      525 Ridgecrest Blvd, Ridgecrest, CA 93555-3900
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      625 SF

      Ridgecrest Multifamily Property with Courtyards

      Ridgecrest apartments with mature trees, serene courtyards, and pool.
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      Sierra Breeze Estates Mobile Home

      Mobile home with no space rent, includes water and amenities.
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    • $180,000
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      Inyokern Commercial Building with Potential

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    • $355,000
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      Turnkey Duplex with Solar System

      High-performing investment duplex with modern amenities and strong cash flow.
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    • $525,000
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      New Triplex in Ridgecrest, CA

      New triplex with solar, near downtown and City Hall.
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    • $300,000
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      Fully Leased Triplex in Ridgecrest

      Triplex in Southeast Ridgecrest with established rental history and full occupancy.
      602 Commercial Ave, Ridgecrest, CA 93555
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    Similar Nearby for Lease

    • Contact for pricing
      417,305 SF

      Ridgecrest Land for Lease

      9.58 acres of land available for ground lease.
      E Rader Ave, Ridgecrest, CA 93555
      View Details
    • Contact for pricing

      Fully Leased Office Building

      Office building in Ridgecrest, CA, currently 100% leased.
      909 W Inyokern Rd, Ridgecrest, CA 93555
      View Details
    • Contact for pricing
      7,500 SF

      Ridgecrest Retail Space Available

      7,500 SF retail space for lease in Ridgecrest, CA.
      104 Nancy Ave, Ridgecrest, CA 93555
      View Details
    • $1.00 SF/Yr
      1,670 SF

      Ridgecrest Office Space Available

      Office space for rent in Ridgecrest, CA.
      780-860 N China Lake Blvd, Ridgecrest, CA 93555
      View Details
    • $750 /Mo
      3,700 SF

      Ridgecrest Office Space For Rent

      3,700 sq. ft. office building with utilities included.
      143 Panamint Ave, Ridgecrest, CA 93555
      View Details
    • $1.75 SF/Yr
      1,750 SF

      Retail Space For Rent

      Retail space available for lease.
      890 N China Lake Blvd, Ridgecrest, CA 93555
      View Details
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    323 Norma St
    Ridgecrest, CA 93555-4516
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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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