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    Property profile & analytics

    923 Ming Ave Bakersfield, CA 93307-3911

    • Investment properties
    • 4,320 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Jul 15, 2022
    $455,000
    Value Estimations
    $605,000
    Show details
    Cap Rate Potential
    7.2%
    Investment properties
    Location Intelligence
    Property ID
    US10-2439793
    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

    • Freddy’s Tires New & Used / (Bike/Boat/Book/etc) Store / Auto Parts Store

    Property Details for 923 Ming Ave

    Year built
    1950
    Construction
    WOOD
    Lot size
    0.34 lot acres
    Property size
    4,320 SF
    Zone code
    C-2
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    166-041-06-00-6
    APU
    16604106006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $680,000
      ML approach
      $490,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $815,000
      6.5%
      $755,000
      7%
      $700,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $615,000
      Market price range: $302k - $773k
      AI Estimate
      $779,000
      Market price range: $300k - $1.14M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $515,000
      Current use
      MEDICAL BUILDING
      $990,000
      Change: +91% Conversion: Easy
      OFFICE BUILDING
      $910,000
      Change: +76% Conversion: Easy
      WAREHOUSE, STORAGE
      $745,000
      Change: +44% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $600,000
      Change: +16% Conversion: Difficult
      RETAIL STORES
      $500,000
      Change: -3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bakersfield
    County
    Kern
    State
    California
    Longitude
    -119.013
    Latitude
    35.3392
    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
    $4,454
    $145,000
    $110,000
    $255,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $845,000
      5,114 SF

      520 Un Ave

      STORE/OFFICE (MIXED USE) • 5,114 SF
      520 Un Ave, Bakersfield, CA 93307-1474
      View Details
    • Value Estimation
      $1,535,000
      9,268 SF

      4901 Weedpatch Hwy

      STORE/OFFICE (MIXED USE) • 9,268 SF
      4901 Weedpatch Hwy, Bakersfield, CA 93307-9404
      View Details
    • Value Estimation
      $590,000
      3,924 SF

      401 California Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,924 SF
      401 California Ave, Bakersfield, CA 93307-1139
      View Details
    • Value Estimation by Request
      2,214 SF

      1323 Planz Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,214 SF
      1323 Planz Rd, Bakersfield, CA 93307-4556
      View Details
    • Value Estimation
      $535,000
      2,984 SF

      230 Whitlock St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,984 SF
      230 Whitlock St, Bakersfield, CA 93307-1640
      View Details
    • Value Estimation by Request
      1,668 SF

      3625 Edison Hwy

      OFFICE/RESIDENTIAL (MIXED USE) • 1,668 SF
      3625 Edison Hwy, Bakersfield, CA 93307-2329
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      128.07 Acres

      Bakersfield Logistics Center

      Massive Industrial Space: Sale/Lease
      0 Belle Ter, Bakersfield, CA 93307
      View Details
    • $1,275,000
      5,114 SF

      Mixed-Use Complex in Bakersfield, CA

      Value-add mixed-use property in high-traffic Bakersfield location.
      520 Union Avenue Loop, Bakersfield, CA 93307
      View Details
    • New
      $243,600
      1,003 SF

      Bakersfield Mixed-Use Property For Sale

      Mixed-use property on a busy road, zoned C2.
      3721 Edison Hwy, Bakersfield, CA 93307
      View Details
    • $5,514,600
      315.12 Acres

      Prime Arvin Farmland - 315 Acres

      Irrigated farmland, almond orchard, excellent water rights.
      0 Panama Rd, Bakersfield, CA 93307
      View Details
    • $89,999

      Turn-Key Manufactured Home in Bakersfield

      3 bed, 2 bath manufactured home with community pool access.
      1301 Taft 91, Bakersfield, CA 93307
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    • Contact for pricing

      2.5 Acres of Land

      2.5 acres of land zoned E(2 1/2).
      Rd, Tehachapi, CA 93307
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,850 SF

      Commercial & Residential Mixed-Use Property

      Versatile commercial and residential property in a high-traffic Bakersfield location.
      1313 Brundage Ln, Bakersfield, CA 93307
      View Details
    • $10 SF/Yr
      32,635 SF

      Gateway Plaza Retail Spaces

      Bakersfield retail spaces, 6 suites available.
      333 Union Ave, Bakersfield, CA 93307
      View Details
    • Contact for pricing
      1,012,185 SF

      Bakersfield Warehouse: Huge Opportunity

      Massive single-tenant warehouse in prime location.
      0 Nwc Of Hosking Ave & H St, Bakersfield, CA 93307
      View Details
    • Contact for pricing
      1,050 SF

      Retail Space in Bakersfield

      Retail space available for lease in Bakersfield, California.
      6509 Panama Ln, Bakersfield, CA 93307
      View Details
    • Contact for pricing
      17,340 SF

      Retail Space Available For Lease

      17,340 SF retail space on hard corner for lease.
      9700 Panama Ln, Bakersfield, CA 93307
      View Details
    • Contact for pricing
      2,560 SF

      Bakersfield Retail Space - 2560 SF

      Brand new freestanding retail building. High visibility, ample parking.
      6529 Brundage Ln, Bakersfield, CA 93307
      View Details
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    923 Ming Ave
    Bakersfield, CA 93307-3911
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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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