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    Property profile & analytics

    4241 Chester Ln Bakersfield, CA 93309-1082

    • Motels
    • 67,586 SF
    • 3.75 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2024
    $11,000,000
    Value Estimations
    $10,075,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-0608417
    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

    • Residence Inn Bakersfield / Hotel & Motel
    • 4241 Chester Lane Parking / Parking Lot & Garage

    Property Details for 4241 Chester Ln

    Year built
    1989
    Construction
    WOOD
    Lot size
    3.75 lot acres
    Property size
    67,586 SF
    Zone code
    C-2
    Property type
    Motels
    APN
    332-322-13-00-5
    APU
    33232213005

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,475,000
      6.5%
      $7,825,000
      7%
      $7,265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $13,247,000
      Market price range: $7.19M - $13.2M
      AI Estimate
      $7,298,000
      Market price range: $1.23M - $7.30M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $9,410,000
      Current use
      MEDICAL BUILDING
      $15,455,000
      Change: +64% Conversion: Difficult
      OFFICE BUILDING
      $14,970,000
      Change: +59% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $10,765,000
      Change: +14% Conversion: Difficult
      RETAIL STORES
      $9,610,000
      Change: +2% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $9,530,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.047
    Latitude
    35.369
    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
    $191,732
    $849,054
    $15,468,898
    $16,317,952
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,180,000
      26,948 SF

      1350 Easton Dr

      MOTEL • 26,948 SF
      1350 Easton Dr, Bakersfield, CA 93309-1062
      View Details
    • Value Estimation
      $4,470,000
      20,952 SF

      3620 Wible Rd

      MOTEL • 20,952 SF
      3620 Wible Rd, Bakersfield, CA 93309-9014
      View Details
    • Value Estimation
      $4,115,000
      38,944 SF

      3600 Chester Ln

      MOTEL • 38,944 SF
      3600 Chester Ln, Bakersfield, CA 93309-1129
      View Details
    • Value Estimation
      $2,990,000
      31,050 SF

      901 Real Rd

      MOTEL • 31,050 SF
      901 Real Rd, Bakersfield, CA 93309-1003
      View Details
    • Value Estimation
      $2,520,000
      28,333 SF

      3400 Chester Ln

      MOTEL • 28,333 SF
      3400 Chester Ln, Bakersfield, CA 93309-1189
      View Details
    • Value Estimation by Request
      2.39 Acres

      1401 Easton Dr

      HOTEL • 2.39 Acres
      1401 Easton Dr, Bakersfield, CA 93309-1005
      View Details

    Similar Nearby for Sale

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      $238,000
      0.49 Acres

      Residential Land in Bakersfield, CA

      Large lot ready for building in Bakersfield, California.
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      View Details
    • Contact for pricing

      Bakersfield Land For Sale

      C-2 zoned land suitable for medical or general office uses.
      4935 Commerce Dr, Bakersfield, CA 93309
      View Details
    • Contact for pricing
      7,600 SF

      Restaurant Space Coming Soon

      7,600 SF restaurant space available for rent.
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      View Details
    • $2,450,000
      37,897.00 Acres

      Bakersfield Restaurant - For Sale

      Prime Restaurant Location, High Traffic Area
      5544 California Ave, Bakersfield, CA 93309
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    • $5,000,000
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      Bakersfield Flex Space Investment

      20-Unit Industrial Portfolio, High Occupancy
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      Bakersfield Medical Center Portfolio

      Two Class A medical buildings, sale/leaseback.
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    Similar Nearby for Lease

    • $4 SF/Yr
      19,871 SF

      HQ Truxtun Place: Bakersfield Office Space

      Prime Bakersfield Office Suites: Flexible Options Available
      5701 Truxtun Ave, Bakersfield, CA 93309
      View Details
    • $21 SF/Yr
      27,223 SF

      Class A Bakersfield Office Space

      Prime Bakersfield office, multiple suites available.
      5001 Commercenter Dr, Bakersfield, CA 93309
      View Details
    • $19 SF/Yr
      26,757 SF

      Prime Office Space, California Ave

      Exceptional office suites, ideal location.
      5055 California Ave, Bakersfield, CA 93309
      View Details
    • $21 SF/Yr
      39,726 SF

      Bakersfield Office Space for Lease

      13,100 SF Office, Southwest Bakersfield
      5101 Office Park Dr, Bakersfield, CA 93309
      View Details
    • Contact for pricing
      5,000 SF

      Bakersfield Retail Space Available

      Prime Bakersfield retail space, 1,200-5,000 sq ft.
      6705 White Ln, Bakersfield, CA 93309
      View Details
    • Contact for pricing

      4900 California Avenue

      Discover many ways to work your way in 4900 California Avenue
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      View Details

    Property Visit Statistics

    • Visits by month
      7.1k
    • Visitors by month
      2.1k
    • Avg Time on site
      398 min
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    Bakersfield, CA 93309-1082
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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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