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

    8858 Spectrum Park Way Bakersfield, CA 93308-9441

    • Hotels
    • 36,642 SF
    • 1.72 lot acres
    OFF-MARKET
    Last Sale
    Jun 30, 2021
    $7,500,000
    Value Estimations
    $7,895,000
    Show details
    Cap Rate Potential
    3.4%
    Hotels
    Location Intelligence
    Property ID
    US10-2953980
    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

    • La Quinta Inn & Suites by Wyndham Bakersfield North / Hotel / Inn

    Property Details for 8858 Spectrum Park Way

    Year built
    2006
    Construction
    WOOD FRAME
    Lot size
    1.72 lot acres
    Property size
    36,642 SF
    Zone code
    M-2
    Property type
    Hotels
    APN
    492-200-19-00-1
    APU
    49220019001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,130,000
      ML approach
      $8,320,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,182,000
      Market price range: $3.90M - $7.18M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $5,100,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $12,640,000
      Change: +148% Conversion: Difficult
      MEDICAL BUILDING
      $8,380,000
      Change: +64% Conversion: Difficult
      OFFICE BUILDING
      $7,735,000
      Change: +52% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $4,895,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.076
    Latitude
    35.4403
    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
    $101,414
    $780,300
    $7,036,386
    $7,816,686
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $915,000
      55,042 SF

      19480 Quinn Rd

      HOTEL • 55,042 SF
      19480 Quinn Rd, Bakersfield, CA 93308-9636
      View Details
    • Value Estimation
      $1,245,000
      69,051 SF

      3927 Marriott Dr

      HOTEL • 69,051 SF
      3927 Marriott Dr, Bakersfield, CA 93308-6260
      View Details
    • Value Estimation
      $880,000
      50,422 SF

      8740 Spectrum Park Way

      HOTEL • 50,422 SF
      8740 Spectrum Park Way, Bakersfield, CA 93308-9476
      View Details
    • Value Estimation
      $11,995,000
      63,978 SF

      3625 Marriott Dr

      HOTEL • 63,978 SF
      3625 Marriott Dr, Bakersfield, CA 93308-6248
      View Details
    • Value Estimation
      $1,135,000
      79,406 SF

      3101 Camino Del Rio Ct

      HOTEL • 79,406 SF
      3101 Camino Del Rio Ct, Bakersfield, CA 93308
      View Details
    • Value Estimation by Request
      62,536 SF

      8818 Spectrum Park Way

      HOTEL • 62,536 SF
      8818 Spectrum Park Way, Bakersfield, CA 93308-9441
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      30,468 SF

      Bakersfield Motel - Value Add Opportunity

      100-Key Motel, High Potential, CA
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      Northern Heights Parcels: 474 Acres

      Bakersfield land, prime development opportunity.
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      Prime Bakersfield acreage, owner financing available.
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      Bakersfield Land: 10 Acres, Owner Finance

      10-acre tract, prime Bakersfield location, owner financing.
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    • $713,999

      Six-Unit Multifamily Investment Opportunity

      Six fully occupied units in Bakersfield with steady income potential.
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      Iconic Bar Opportunity For Sale

      Commercial building housing the Long Branch Saloon available for purchase.
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    Similar Nearby for Lease

    • $7 SF/Yr
      357,609 SF

      Bakersfield Warehouse Space Available

      Large industrial warehouse, multiple units.
      6001 Snow Rd, Bakersfield, CA 93308
      View Details
    • $13 SF/Yr
      70,456 SF

      Bakersfield Airport Business Center

      Prime Bakersfield Office/Warehouse Space
      3701 Pegasus Dr, Bakersfield, CA 93308
      View Details
    • $18,000 /Mo
      101,059 SF

      Bakersfield Industrial Land for Lease

      Fully fenced, 2.32-acre lot near Airport.
      0 Ca-65, Bakersfield, CA 93308
      View Details
    • Contact for pricing
      1,050 SF

      Retail Space Near Amazon Center

      Retail space for rent near a large Amazon fulfillment center.
      35315 Merle Haggard Dr, Bakersfield, CA 93308
      View Details
    • $25,000
      4,724 SF

      Industrial Space with Paint Booth

      Industrial property featuring a paint booth and phosphate tank.
      3912 Gilmore Ave, Bakersfield, CA 93308
      View Details
    • $1.25 SF/Yr
      5,500 SF

      Flex/Industrial Space For Rent

      Flex/Industrial space available for rent on Patton Way.
      3801 Patton Way, Bakersfield, CA 93308
      View Details
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    Bakersfield, CA 93308-9441
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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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