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Property profile & analytics
OFF-MARKET
Estimated value
$1,510,000
Office buildings
3400 Calloway Dr Bakersfield, CA 93312-2513
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-2637619
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2005
Construction
WOOD FRAME
Total area
5,400 SF
Lot
0.54 ac (23,522 SF)
Zoning code
CO
APN
451-080-19-00-8
UPID
US09-2637619
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
-
Becky Telese Realtor Real Estate Agency
-
Bakersfield Family Medical Center Hospital
-
Excel Dental Family Dentist Dental Office
-
Farmers Insurance Insurance Agency
-
TERRIO Physical Therapy & Fitness, Inc. Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.80M
CAP Approach
CAP
$1.24M
Comparable Approach
Comparable
$1.35M
Blend (final)
Blend
$1.51M
Owner & transaction history
Mid State Development Corporation · 4 yrs held
Mid State Development Corporation
since 2021
Last sale
$1.6M
5 recorded transactions
Zoning & alternative use
CO · Bakersfield, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.2M
+91.7%
Neighborhood: shopping center
$1.9M
+63.4%
Medical building
$1.2M
+8.3%
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
$1,865,000
ML approach
$1,800,000
CAP Approach
CAP Return
Estimation
6%
$1,335,000
6.5%
$1,235,000
7%
$1,145,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,140,000
Current use
RESTAURANT
$2,185,000
Change: +92% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,865,000
Change: +63% · Conversion: Difficult
MEDICAL BUILDING
$1,235,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$1.51M
Range $1.36M – $1.66M · ±10% · vs last sale $1.55M (Jul 8 2025)
Last sale anchor
$1.55M
Jul 8 2025
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
$280 / 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
$17,129
Tax year 2023
Assessed value
$1,404,540
Assessed 2023
Previous assessed
$1,404,540
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$249,696
Assessed improvement
$1,154,844
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
2005
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
OTHER
Stories
1
Total area
5,400 SF
Lot
0.54 ac (23,522 SF)
Zoning code
CO
APN
451-080-19-00-8
UPID
US09-2637619
Jurisdiction
KERN
Zoning & alternative use
CO · Bakersfield, CA
Zoning CO · permitted uses
CO · 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
OFFICE BUILDING Current
Est. value
$1.1M
RESTAURANT
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL 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
2005
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.54 ac
Current owner
From public records · entity-resolved
Mid State Development Corporation
Entity
Mailing address
3400 CALLOWAY DR STE #100, BAKERSFIELD, CA 93312-2513
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2021
—
Mid State Development Corporation
Shiny Star LLC
Assignment Of Lease (leasehold Sale)
—
Sep 25, 2020
$1,350,000
Shiny Star LLC
Ohanneson Properties LP
Grant Deed
$760,800 · Bank Of The Sierra
Aug 13, 2009
—
Ohanneson Cheryl Family Trust
Ohanneson J & J Family Trust
Quit Claim Deed
—
—
—
Shiny Star LLC
—
Deed Of Trust
$760,800 · Bank Of The Sierra
—
—
Shiny Star LLC
—
Deed Of Trust
related
$528,300 · Bank Of The Sierra
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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