7-Eleven

3698 Ming Avenue, Bakersfield, CA

$5,940,000

Price

5%

Cap Rate

$297,000

NOI

Overview
Cap Rate
5%
NOI
$297,000
Building Size
2,400 sqft
Lot Area
0.64 acres
Occupancy
100%
Lease Type
Triple Net
Year Built
2019
Tenancy
Single
Description

Investment Grade Tenant (S&P AA- Rated Credit Tenant):
- New 15-year lease term with 10% increases every 5 years
- Three 5-year options with 10% increases
- NNN (Landlord responsible for structure)


Large Freeway Visible Monument Signage: Visible from California’s Interstate 99; average daily traffic volumes exceeding 143,000


Signalized Hard Corner Location: With traffic counts exceeding 46,000 vehicles per day at the intersection


Dense Infill Location: Drawing from the estimated 25,000 people residing within 1-mile of the subject location


Exceptional Growth: 1-mile trade area grew 16.87% from 2010-2019 and is expected to increase by an additional 4.57% by 2024


Established Gas Station Site / Under Construction: Site has been successfully operating as a gas station for the last 40 years with 7-Eleven currently updating to their latest prototype


Beer & Wine Sales: Site has received approval to sell alcoholic beverages


Location
Gallery