Mount Vernon Retail Center | Bakersfield, CA
Sands Investment Group is Pleased to Exclusively Offer For Sale the 5,600 SF Mount Vernon Retail Center Located at 2630 Mount Vernon Avenue in Bakersfield, California.
LONG TERM INVESTMENT OPPORTUNITY
- All Tenants Signed a 10 Year Base Lease Term
- Approximately 7 Years Remaining on Each Lease
- New Construction Completed in 2017
- Strong 10% Rental Increases Every 5 Years (Next Increases Within 2-3 Years)
- Triple Net (NNN) Leases Featuring 4% Management Fees
HIGH QUALITY & INTERNET RESISTANT TENANTS
- 100% Restaurant Tenant Lineup – Amazon and Internet Resistant Tenants
- 38% of GLA Made Up of Chipotle (NYSE: CMG) Which Has Over 2,600 Locations
- Flame Broiler Has Over 180 Locations in California, Arizona, Florida, Nevada and Oklahoma
- Ono Hawaiian BBQ Currently Has Over 65 Locations in California and Arizona
HIGH BARRIERS TO ENTRY LOCATION
- Pad Building to 100% Leased Shopping Center Anchored By Smart & Final and Including Urbane Cafe & Sizzler
- Signalized Intersection of Mall View Road and Mt Vernon Avenue See 98,500 Vehicles Pass Through Daily
- Direct Frontage and Exposure with High Barriers to Entry – Four Points of Egress and Ingress
- Immediate Access Off Interstate 178 (59,239 VPD) and On and Off Ramp Visibility
- Pylon Signage Along Interstate 178
DOMINANT MARKET POSITION IN CALIFORNIA
- Densely Populated Area With Over 224,800 People Within a 5-Mile Radius
- Employee Population of Over 42,000 People Within a 3-Mile Radius
- Population Growth Expected By 2.8% Over Next 5 Years Within a 3-Mile Radius
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