Bakersfield Retail Property for Sale

PLEASE SEE ATTACHED MARKETING PACKAGE FOR FULL DETAILS:

OFFERING SUMMARY: 5301 Olive Dr, Bakersfield offers an investor a NNN leased investment on a 53k Cars/day signalized corner. The property is 1 block from an elementary school and 1 block the 99 Freeway on & off ramp (124k Cars/day) and located close to the interchange between 3 freeways (99, 178 & 204 Freeways), so will always be a highly trafficked and in-demand location. Smoke Zone has been the tenant since January 2022. Their lease expires at the end of March 2027 with one extension option for an additional 5 years. The property is surrounded by National tenants, 1 block North of San Lauren Elementary School and 1 mile West of Good Samaritan Hospital. Current Cap Rate is 7.3%, with the 3% yearly increases on 4/1/24 the Cap Rate is 7.5%.

DEMOGRAPHICS: The population within a 3 mile radius was estimated at over 69,000 as well as over 209,000 within a 5 mile radius, and this population is expected to grow at 3.74% annually. The average household income was estimated at approximately $59,000 within a 3 mile radius

Price: $700,000 – 7.5% Cap Rate. 1,764 SF on 8,712 SF Signalized Corner Lot

Karl Niehaus Founder & CEO - Commercial Real Estate Broker - DRE# 01450751 (310) 880-7900 KarlNiehaus@CREI.biz