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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