South Mill Creek Retail Center

Highlights:

• 100% Leased 6-Tenant Pad Building with Improved Land Parcel Included in the Sale
• Diverse, Internet-Resistant, Service-Oriented Tenant Mix with Staggered Lease Terms
• Part of an Entertainment Center which includes an Aquatic Center, Movie Theater, and Ice Rink Sports Complex
• Located Within a 360-Degree Trade Area that Boasts over 210,000 people within a 5-Mile Radius
• Near High Traffic Volume Intersection with Over 44,000 Daily Cars at California & Union Avenues
• Fee-simple ownership (land & building) allowing for tax beneficial depreciation of the building and property improvements

Description:

Commercial Retail Associates, in association with Capacity Commercial Group, is pleased to present South Mill Creek Retail Center, a fully leased, six-tenant retail center at 900 and 920 California Avenue in Bakersfield, California. Built in 2016, the ±9,649 SF center sits on ±0.91 acres (two parcels) and is offered at $3,125,000.

Investment Summary
- Price: $3,125,000
- In-Place Cap Rate: 7.00% | Proforma Cap Rate: 8.38%
- In-Place NOI: $218,738 | Proforma NOI: $261,798
- Year Built: 2016
- Building Size: ±9,649 SF
- Land Area: ±0.91 AC (two parcels, ±0.64 AC and ±0.27 AC)
- Tenancy: 6 tenants, 100% leased
- NOI reflects a 3% vacancy factor

Location Highlights
- 100% leased 6-tenant pad building with improved land parcel included in the sale
- Diverse, internet-resistant, service-oriented tenant mix with staggered lease terms
- Part of an entertainment center that includes an aquatic center, movie theater and ice rink
- Located within a 360-degree trade area with over 210,000 people within a 5-mile radius
- Near high-traffic volume intersection with over 44,000 daily cars at California and Union Avenue
- Fee-simple ownership (land and building) allowing for tax-beneficial depreciation of the building and improvements

Contact: Bryan Cifranic, Commercial Retail Associates, in association with Ashton Summers, Capacity Commercial Group.

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