Property Listing No Longer Available for Sale

3017 Wilson Rd, Bakersfield, CA

Retail for Sale - $739,000 - 4,168 Sq. Ft. on 0.44 acres


Property Info

CIMLS#867560
Location
  3017 Wilson Rd
  Bakersfield CA 93304
UpdatedMarch 15th, 2016
TypeRetail
Price$739,000
Building4,168 Sq. Ft.
Land0.44 acres

Property Description

Investment Opportunity: Established Absolute triple net lease with (1) 5-year option renewal through February 2026. Single tenant Retail Restaurant building in a highly traveled prime retail district within the 285,808 "White Lane Plaza" shopping center on 5.79 Acres. Features a functional floor plan that tenant has made substantial improvements to. Fixturized, free-standing recently remodeled restaurant building with excellent parking, visibility, and signage in a neighborhood shopping center. Located within a large shopping center anchored by Dollar General, liquor mart, Kern County Department of Human Services and other local tenants.

Strong Credit Tenant, Costa Del Sol, has successfully operated in location and many other successful locations. This property is a uniquely large footprint and has significantly below market rents of $1.00 per square foot. High Visibility and Easy Access from All Sides of the Center. Near Major Corridors servicing Airport, Mall, Highway 99, & Housing. Great Access & Visibility w/ Unmatched Level of Consumer Traffic. Attractive price point per square foot initial yield, and rental growth is appealing for 1031 capital looking for wealth preservation and growth opportunity. Property is being offered free and clear of debt allowing a buyer to take advantage of historically low financing.

Location Description:

Conveniently located at the White Lane Plaza Shopping Center's east end with a dedicated entrance at the front. The Plaza Tower Apartments are located immediately east of the subject site, and this facility consists of a multistory apartment building. Single-family dwellings occupy the entire area north of the subject site, across Wilson Road. Neighboring tenants include the Target, Starbucks, Panda Express, Print, Sears, Vans, T-mobile, Macy's, Forever 21, Apple Store, PacSun, Old Navy, GameStop, Reading Cinemas (14 screen stadium theater), Kmart and Big Lots, Don Pepes, Foster Freeze, Mor Furniture For Less, and more. Located near the Valley Plaza Regional Mall on Wilson Road, just east of Freeway 99.

Highlights:

>> Prime Fully Leased Absolute NNN Retail Building w/ Upside Potential

>> Close Proximity to Major Traffic Generators & Fwy 99 Ramps

>> Below Market Rent of $1.00 per Square Foot on Large Footprint Site

>> Great street visibility with Ample Parking next to Dollar General

>> Located less than 1 mile from the Valley Plaza Regional Mall

>> +/- 4,168 SF Building: Significantly Improved on Tenants Dime

>> Great Exposure in an established shopping center Surrounded with Quality Tenants

>> Busy & Established Retail Corridor 73,066 Cars Per Day

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Financials

Sales Info:

>> Cap rate: 6.77%

>> Commision split: 3.0%

>> NOI: $50016