Densely Populated Area In Busy CVS Anchored Center

OFFERING MEMORANDUM

BAKERSFIELD CALIFORNIA

Densely Populated Area In Busy CVS Anchored Center

CONFIDENTIALITY AND DISCLAIMER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

NON-ENDORSEMENT NOTICE

Marcus & Millichap Real Estate Investment Services, Inc. ("M&M") is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of w, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

97

Grants Pass 5

101

199

Medford

Klamath Falls

Ashland

Altamont

Oregon

Idaho

84

93

Twin Falls

30

95 93

TABLE OF CONTENTS

Eureka

Humboldt Bay

Arcata

395

80

Redding 93A

Investment Summary..........................................1 Investment Highlights.........................................3 Aerial Map..........................................................7 Site Plan.............................................................9 Tenant Summary...............................................11 Location Highlights............................................13 Location Map....................................................16 Demographics...................................................17

Chico 5

80 95

Reno

50A

50

101 Ukiah

Yuba City Linda

50 95A

Carson City

Citrus

80

Heights

South Lake Tahoe 50

Santa Rosa

505 80

Petaluma

Napa

Fairfield

Vallejo 680

Richmond

Concord

Berkeley Oakland San Francisco

Daly

City

San Francisco Bay

San Mateo

Fremont

Redwood City Palo Alto Santa Clara

San Jose

Arden-Arcade

Sacramento

5 Lodi Stockton

Manteca Modesto

580 Ceres

Atwater Merced

95 395

Morgan Hill Gilroy

Santa Cruz

Watsonville

Monterey Bay Marina

Hollister Salinas

Monterey

Los Banos

Madera

Fresno

Sanger

Selma

Reedley

6 395

Nevada

95

93 6

93 15

Pacific Ocean

CALIFORNIA

101

Atascadero San Luis Obispo

Hanford

Visalia Tulare

Porterville

Delano

5 Bakersfield

Ridgecrest

Las Vegas Winchester

Paradise Henderson

93

15 95

Arroyo Grande Santa Maria

Barstow

Bullhead City

Lompoc

Lancaster

15

Santa Barbara Ventura

Santa Barbara

C h a n n e l Oxnard

Palmdale

Victorville

Simi Valley 101

Burbank

Los Angeles

Pomona Whittier

Hesperia Big Bear

San Bernardino Yucaipa

Riverside

Redondo Beach Long Beach

Anaheim Santa Ana

Palm Springs Palm Desert

Newport Beach Mission Viejo

Costa Mesa

Fallbrook

Gulf of Santa Catalina

5 Oceanside

Vista Escondido

Encinitas

Solana Beach

Poway 15

San Diego

El Cajon

La Mesa

Chula Vista

Rosarito

40

Indio 10

Brawley

El Centro

8

Calexico

Mexicali

95 Yuma

Mexico

San Luis

Lake Hava 95

INVESTMENT SUMMARY

2682 MT VERNON AVENUE, BAKERSFIELD, CA 93306

PRICE: $4,689,000

CAP: 5.75%

RENT: $269,615

OVERVIEW

Price Gross Leasable Area (GLA) Lot Size (approx.) Net Operating Income CAP Rate Year Built

LEASE ABSTRACT

Lease Type Lease Term Lease Start (estimate) Lease Expiration (estimate) Renewal Options Increases Landlord Obligation

$4,689,000 28,802 SF 3.07 Acres $269,615 5.75% 1973

ANNUALIZED OPERATING DATA

Lease Term 2/2019 2/2025 Option 1 Option 2 Option 3 Option 4

NNN 13 Years 4/28/2017 2/1/2030

4x5 Written into lease, see side bar

None

Annual Rent $269,615 $280,399 $291,615 $303,280 $315,411 $328,028

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INVESTMENT HIGHLIGHTS

tt $4,689,000 tt Located in a busy CVS anchored center.

tt Densely populated residential community with more than 220,530 residents in the immediate area.

tt In close proximity to Bakersfield Community College with 17,700+/- student body population contributing to the traffic in the immediate area.

tt Heavily trafficked area with strong visibility and ease in ingress/egress where more than 35,400+ vehicles pass in front of site daily.

226,965

T O TA L P O P U L AT I O N WITHIN 5-MILE RADIUS

$52,776

AVERAGE HOUSEHOLD INCOME WITHIN 5-MILE RADIUS

22,049 VPD - MOUNT VERNON AVE 13,399 VPD - COLUMBUS STREET

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