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

    3232 Riverside Dr Bakersfield, CA 93308-6346

    • Motels
    • 51,924 SF
    • 2.17 lot acres
    OFF-MARKET
    Last Sale
    Nov 18, 2020
    $5,500,000
    Value Estimations
    $5,635,000
    Show details
    Cap Rate Potential
    5.5%
    Motels
    Location Intelligence
    Property ID
    US09-3250470
    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

    • La Quinta Inn by Wyndham Bakersfield South / Hotel & Motel
    • Michaels Auto Transport / Trucking Company
    • Taco Bell / Restaurant

    Property Details for 3232 Riverside Dr

    Year built
    1986
    Construction
    WOOD
    Lot size
    2.17 lot acres
    Property size
    51,924 SF
    Zone code
    C-2
    Property type
    Motels
    APN
    332-580-11-00-1
    APU
    33258011001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,085,000
      ML approach
      $6,900,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,510,000
      6.5%
      $6,010,000
      7%
      $5,580,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,526,000
      Market price range: $5.53M - $10.2M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $7,230,000
      Current use
      INDUSTRIAL (GENERAL)
      $6,940,000
      Change: -4% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $6,740,000
      Change: -7% Conversion: Difficult
      RETAIL STORES
      $6,470,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.042
    Latitude
    35.3838
    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
    $55,138
    $1,768,680
    $2,847,868
    $4,616,548
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,550,000
      0.43 Acres

      6257 Knudsen Dr

      MOTEL • 0.43 Acres
      6257 Knudsen Dr, Bakersfield, CA 93308-2117
      View Details
    • Value Estimation by Request
      0.62 Acres

      5200 Olive Tree Ct

      MOTEL • 0.62 Acres
      5200 Olive Tree Ct, Bakersfield, CA 93308-2956
      View Details
    • Value Estimation
      $13,410,000
      200,503 SF

      3100 Camino Del Rio Ct

      MOTEL • 200,503 SF
      3100 Camino Del Rio Ct, Bakersfield, CA 93308-6245
      View Details
    • Value Estimation
      $3,620,000
      34,181 SF

      6141 Knudsen Dr

      MOTEL • 34,181 SF
      6141 Knudsen Dr, Bakersfield, CA 93308-2904
      View Details
    • Value Estimation by Request
      0.41 Acres

      5200 Olive Tree Ct

      MOTEL • 0.41 Acres
      5200 Olive Tree Ct, Bakersfield, CA 93308-2956
      View Details
    • Value Estimation by Request
      2.91 Acres

      Bakersfield, CA 93308

      MOTEL • 2.91 Acres
      Bakersfield, CA 93308
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      30,468 SF

      Bakersfield Motel - Value Add Opportunity

      100-Key Motel, High Potential, CA
      5200 Olive Tree Ct, Bakersfield, CA 93308
      View Details
    • $5,000,000
      5.00 Acres

      Bakersfield Commercial/Industrial Land Opportunity

      High-visibility commercial/industrial land on Rosedale Highway, across from Lowe's.
      7526 Rosedale Hwy, Bakersfield, CA 93308
      View Details
    • $56,000
      0.21 Acres

      Residential Lot in Bakersfield

      Vacant lot in established residential neighborhood ready for quick sale.
      404 Mccord Ave, Bakersfield, CA 93308
      View Details
    • $2,876,200
      8,302 SF

      AutoZone Property For Sale

      AutoZone property with a new 15-year lease in California.
      1125 Olive Dr, Bakersfield, CA 93308
      View Details
    • $99,990
      2.46 Acres

      Bakersfield Vacant Land Opportunity

      2.46 acre vacant lot in northeast Bakersfield.
      Vacant Land, Bakersfield, CA 93308
      View Details
    • Contact for pricing
      5,725 SF

      Bakersfield Office Space Available

      Office property with 5725 square feet of space.
      3012 Sillect Ave, Bakersfield, CA 93308
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      17,979 SF

      Airport Drive Warehouse and Hangar

      Office, warehouse, and hangar space with direct tarmac access.
      2103 Airport Dr, Bakersfield, CA 93308
      View Details
    • $4,800 /Mo
      2,350 SF

      Industrial Property with Large Yard

      Office, warehouse, and yard space for lease in Bakersfield.
      18400 Highway 65, Bakersfield, CA 93308
      View Details
    • Contact for pricing
      4,260 SF

      Bakersfield Flex/Industrial Space Available

      Flex/Industrial space available for lease in Bakersfield, California.
      6224 Price Way, Bakersfield, CA 93308
      View Details
    • Contact for pricing
      17,125 SF

      Stand-Alone Office Building For Lease

      Recently updated office building with easy highway access.
      3600 N Sillect Ave, Bakersfield, CA 93308
      View Details
    • $18 SF/Yr
      25,600 SF

      Bakersfield Airport Flex Space

      Modern Flex Space, 5,000 SF Available
      3655 Unicorn Rd, Bakersfield, CA 93308
      View Details
    • Contact for pricing
      1,440 SF

      Bakersfield Retail Space For Lease

      Prime Bakersfield location, 1440 sq ft.
      3900-4300 Coffee Rd, Bakersfield, CA 93308
      View Details
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    Bakersfield, CA 93308-6346
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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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