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    Property profile & analytics

    7021 Cherry Ave Bakersfield, CA 93314-9723

    • Manufacturing properties
    • 6,090 SF
    • 5.01 lot acres
    OFF-MARKET
    Last Sale
    Jun 22, 2023
    $825,000
    Value Estimations
    $880,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-5163127
    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

    • Golden Valley Manufacturing / Engineer

    Property Details for 7021 Cherry Ave

    Year built
    1991
    Construction
    WOOD
    Lot size
    5.01 lot acres
    Property size
    6,090 SF
    Zone code
    A
    Property type
    Manufacturing properties
    APN
    104-072-09-00-9
    APU
    10407209009

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,035,000
      6.5%
      $955,000
      7%
      $890,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $914,000
      Market price range: $406k - $1.42M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $820,000
      Current use
      MEDICAL BUILDING
      $1,390,000
      Change: +70% Conversion: Difficult
      OFFICE BUILDING
      $1,285,000
      Change: +57% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $970,000
      Change: +18% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $930,000
      Change: +13% Conversion: Difficult
      RETAIL STORES
      $865,000
      Change: +5% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.244
    Latitude
    35.4262
    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
    $10,157
    $499,800
    $341,700
    $841,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $16,110,000
      132,378 SF

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      MANUFACTURING (LIGHT) • 132,378 SF
      34598 7th Standard Rd, Bakersfield, CA 93314
      View Details
    • Value Estimation
      $1,455,000
      17,327 SF

      830 Enos Thru 902nd Ln

      MANUFACTURING (LIGHT) • 17,327 SF
      830 Enos Thru 902nd Ln, Bakersfield, CA 93314
      View Details
    • Value Estimation by Request
      3,750 SF

      Bakersfield, CA 93314

      MANUFACTURING (LIGHT) • 3,750 SF
      Bakersfield, CA 93314
      View Details
    • Value Estimation by Request
      4,800 SF

      Bakersfield, CA 93314

      MANUFACTURING (LIGHT) • 4,800 SF
      Bakersfield, CA 93314
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    • Value Estimation by Request
      3,200 SF

      7463 Superior Rd

      MANUFACTURING (LIGHT) • 3,200 SF
      7463 Superior Rd, Bakersfield, CA 93314-9405
      View Details
    • Value Estimation by Request
      4.78 Acres

      6701 Superior Rd

      MANUFACTURING (LIGHT) • 4.78 Acres
      6701 Superior Rd, Bakersfield, CA 93314
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19.58 Acres

      Shafter Industrial Property For Sale/Lease

      ±129,465 SF Spec Building, 19.58 Acres
      0 Swc Coberly Rd And Cherry Ave, Shafter, CA 93314
      View Details
    • $1,500,000
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      Bakersfield Commercial Land Development

      4.32 Acres, Prime Location, High Traffic
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    • $80,000
      10,890.00 Acres

      Residential Land in Bakersfield

      0.25 acre residential vacant land parcel in Bakersfield, California.
      10418107 Bakersfield, Bakersfield, CA 93314
      View Details
    • $800,000

      Bakersfield Commercial Land Development

      Prime Commercial Lot, High Visibility
      207 Trask St, Bakersfield, CA 93314
      View Details
    • Contact for pricing

      Land for Sale Bakersfield, CA

      Land available for sale in Bakersfield, California.
      8401 Mayer Ave, Bakersfield, CA 93314
      View Details
    • Contact for pricing

      Land For Sale Bakersfield

      Land available for sale in Bakersfield, California.
      Renfro Rd, Bakersfield, CA 93314
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      14,050 SF

      Bakersfield Industrial Warehouse For Sale

      14,050 SF Warehouse, 8 Drive-Ins, Divisible
      12720 Jomani Dr, Bakersfield, CA 93314
      View Details
    • Contact for pricing
      2,400 SF

      Shafter Warehouse Space Available

      Industrial warehouse space available for lease in Shafter, CA.
      8920 De Swan Ct, Shafter, CA 93314
      View Details
    • Contact for pricing
      16,320 SF

      Retail Space in Bakersfield, CA

      Retail property available for lease in Bakersfield, California.
      2646 Allen Rd, Bakersfield, CA 93314
      View Details
    • Contact for pricing
      3,501 SF

      Northwest Bakersfield Office Space Available

      Move-in ready office suite in Northwest Bakersfield's Westside Business Park.
      3559 Allen Rd, Bakersfield, CA 93314
      View Details
    • Contact for pricing

      Industrial Land with Allen Road Frontage

      Partially improved industrial land for lease or build-to-suit.
      4501 Allen Rd, Bakersfield, CA 93314
      View Details
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    7021 Cherry Ave
    Bakersfield, CA 93314-9723
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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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