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    Property profile & analytics

    625 34Th St Bakersfield, CA 93301

    • Medical Office Space
    • 87,389 SF
    • 1.76 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-5294528
    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

    • Tony Uong / Physician
    • Mayra Tovar-Castro / Physician
    • Jesica Gonzalez / Dental Office
    • Emad Hashemi / Physician
    • Debra Stewart / Physician

    Property Details for 625 34Th St

    Year built
    2021
    Lot size
    1.76 lot acres
    Property size
    87,389 SF
    Zone code
    M1
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    002-041-19-00-9
    APU
    204119009

    Description

    This exceptional three-story, Class A medical office building, totaling 84,000 square feet, is located at 625 34th Street in Bakersfield, California, 93301, in the Bakersfield-Downtown submarket of Kern County. Built in 2020, this single building offers a prime opportunity for medical practices seeking modern, efficient space. The building currently houses Memorial Hospital and Clinic Sierra Vista as tenants. A significant contiguous block of space, ranging from 2,000 to 28,711 square feet, is immediately available for lease. This highly desirable location is situated in the Memorial Hospital Corridor, directly across from Memorial Hospital, ensuring excellent visibility and accessibility for patients and staff. The property's convenient location and modern amenities make it an ideal choice for medical professionals seeking a prestigious and functional workspace. The minimum divisible space is 2,000 square feet. This represents a rare chance to secure space in a state-of-the-art facility within a thriving medical hub.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $19,400,000
      6.5%
      $17,910,000
      7%
      $16,630,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $17,407,000
      Market price range: $7.96M - $17.4M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $20,220,000
      Current use
      OFFICE BUILDING
      $17,340,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.009
    Latitude
    35.3901
    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
    2024
    $300,685
    $317,155
    $25,168,316
    $25,485,471
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,881 SF

      3550 Q St

      MEDICAL BUILDING • 1,881 SF
      3550 Q St, Bakersfield, CA 93301-1662
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    • Value Estimation
      $1,305,000
      6,589 SF

      2400 K St

      MEDICAL BUILDING • 6,589 SF
      2400 K St, Bakersfield, CA 93301-4030
      View Details
    • Value Estimation
      $2,470,000
      13,143 SF

      3850 San Dimas St

      MEDICAL BUILDING • 13,143 SF
      3850 San Dimas St, Bakersfield, CA 93301-1456
      View Details
    • Value Estimation by Request
      2,123 SF

      3550 Q St Ste, Unit 101

      MEDICAL BUILDING • 2,123 SF
      3550 Q St Ste, Bakersfield, CA 93301-1645
      View Details
    • Value Estimation by Request
      1,475 SF

      2323 16th St Ste, Unit 102

      MEDICAL BUILDING • 1,475 SF
      2323 16th St Ste, Bakersfield, CA 93301-3453
      View Details
    • Value Estimation by Request
      1,256 SF

      2323 16th St Ste, Unit 502

      MEDICAL BUILDING • 1,256 SF
      2323 16th St Ste, Bakersfield, CA 93301-3454
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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    • Contact for pricing
      84,000 SF

      Downtown Bakersfield Medical Office Space

      Class A medical office, 2,000-28,711 SF available
      625 34Th St, Bakersfield, CA 93301
      View Details
    • $21 SF/Yr
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      Medical Office Suite Bakersfield

      Prime Medical Office Space near Memorial Hospital
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      View Details
    • $45 SF/Yr
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      Bakersfield Medical Office Building

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    • $3,000 /Mo
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      Medical Office Suites For Lease

      Renovated medical office suites available for lease near Memorial Hospital.
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      View Details
    • Contact for pricing
      3,002 SF

      Move-in Ready Medical Office Space

      Medical office space near hospitals with secured parking.
      1215 34Th St, Bakersfield, CA 93301
      View Details
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    625 34Th St
    Bakersfield, CA 93301
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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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