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

    343 State Ave Shafter, CA 93263-2050

    • Retail space
    • 10,758 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Apr 05, 2023
    $2,465,000
    Value Estimations
    $2,200,000
    Show details
    Cap Rate Potential
    4.3%
    Retail space
    Location Intelligence
    Property ID
    US09-2615856
    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

    • Retail space

    Property Details for 343 State Ave

    Year built
    1997
    Construction
    WOOD
    Lot size
    0.34 lot acres
    Property size
    10,758 SF
    Zone code
    NC
    Property type
    Retail space
    APN
    027-280-03-00-6
    APU
    2728003006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,400,000
      ML approach
      $2,260,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,715,000
      6.5%
      $1,585,000
      7%
      $1,470,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,530,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $3,710,000
      Change: +143% Conversion: Moderate
      MEDICAL BUILDING
      $2,460,000
      Change: +61% Conversion: Difficult
      OFFICE BUILDING
      $2,270,000
      Change: +49% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,715,000
      Change: +12% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,640,000
      Change: +7% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,450,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Shafter
    County
    Kern
    State
    California
    Longitude
    -119.273
    Latitude
    35.5012
    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
    $4,572
    $95,508
    $292,893
    $388,401
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $240,000
      1,300 SF

      545 Central Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,300 SF
      545 Central Ave, Shafter, CA 93263-2121
      View Details
    • Value Estimation
      $265,000
      1,750 SF

      248 Central Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,750 SF
      248 Central Ave, Shafter, CA 93263-2021
      View Details
    • Value Estimation
      $295,000
      5,945 SF

      749 Shafter Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,945 SF
      749 Shafter Ave, Shafter, CA 93263-2621
      View Details
    • Value Estimation
      $450,000
      2,684 SF

      18487 Shafter Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,684 SF
      18487 Shafter Ave, Shafter, CA 93263-2853
      View Details
    • Value Estimation
      $345,000
      3,600 SF

      720 Lerdo Hwy

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      720 Lerdo Hwy, Shafter, CA 93263-2410
      View Details
    • Value Estimation
      $280,000
      4,000 SF

      234 Central Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      234 Central Ave, Shafter, CA 93263-2021
      View Details

    Similar Nearby for Sale

    • $450,000

      Shafter Commercial Property for Sale

      Well-maintained commercial property in Shafter with flexible space.
      588 E Lerdo Hwy, Shafter, CA 93263
      View Details
    • $747,054

      Shafter Land with Freeway Visibility

      Commercial land with easy access to Highway 99.
      Zerker Rd, Shafter, CA 93263
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    • $380,000
      1,738 SF

      Shafter Multifamily Investment Opportunity

      Two freestanding homes, updated, with separate utilities and yards.
      249 E Marengo Ave, Shafter, CA 93263
      View Details
    • $1,200,000
      11.70 Acres

      Shafter Commercial Property with Acreage

      11.7 acre commercial property with office and wells.
      1270 E Riverside St, Shafter, CA 93263
      View Details
    • $1,800,000
      8.70 Acres

      Prime Development Opportunity in Shafter

      8.7-acre development opportunity near Bakersfield, zoned and ready!
      Los Angeles St, Shafter, CA 93263
      View Details
    • $2,475,000
      156.68 Acres

      Kern County Ag Land Investment

      156 Acres Almonds, Cherries, Solar
      0 Poplar Ave, Shafter, CA 93263
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,400 SF

      Retail Space in Shafter Center

      Retail space available in a shopping center anchored by Ranch Market.
      460 E Ash Ave, Shafter, CA 93263
      View Details
    • Contact for pricing
      6,300 SF

      Retail Space in Shafter Center

      Retail space available in a shopping center anchored by The Ranch Market.
      201 Central Valley Hwy, Shafter, CA 93263
      View Details
    • Contact for pricing
      4,946 SF

      Shafter Ave Fast Food Site

      Prime Shafter location, build-to-suit opportunity.
      217 Shafter Ave, Shafter, CA 93263
      View Details
    • $0.55 SF/Yr
      245,669 SF

      Shafter Warehouse Sublease Opportunity

      Available warehouse sublease in Shafter, CA through August 2028.
      3601 Fanucchi Way, Shafter, CA 93263
      View Details
    • $10 SF/Yr
      129,465 SF

      Shafter Industrial Warehouse

      ±129,465 SF Warehouse, Lease/Sale
      0 Coberly Rd, Shafter, CA 93263
      View Details
    • Contact for pricing
      840,000 SF

      Shafter Industrial Campus: 840,000 SF

      Four industrial buildings, 800,000 SF available. Ideal for manufacturing & warehousing.
      3901 Fanucchi Way, Shafter, CA 93263
      View Details
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    343 State Ave
    Shafter, CA 93263-2050
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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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