Investment Overview

Marcus & Millichap is pleased to present 2800-2836 Niles St, value-add multi-tenant retail storefronts in Bakersfield, a suburban community of Los Angeles County. Built in 1951 and occupied by tenants all on month-to-month leases, which offers ultimate flexibility to an investor. This asset presents stable cash flow along with near term value add potential. The property consists of 41,183 square feet of rentable building area on 142,006 square feet of land (3.26 acres). The strip center has 12 retail storefronts located at the signalized corner of Niles St and Horrace Mann Ave with excellent visibility and accessibility. The property sits on over 3 acres presenting the opportunity to easily expand the current building footprint and potentially redevelop the site. There is tremendous upside in the rents. Nearby national tenants include: McDonald’s, Pizza Hut, O’Reily’s Auto Parts, Starbucks, Taco Bell, Burger King, and Home Depot. Ideally located within minutes of the 178 freeway, this asset is surrounded by dense suburban housing, high earning residents, excellent schools, and an undersupply of competitive commercial retailers. Bakersfield has improved sites ready for rapid development, large parcels for distribution centers, and a variety of multi-tenant spec and build-to-suit opportunities, all with significant price advantages. Located in Kern County, Bakersfield is approximately 100 miles northeast of Los Angeles. Its population as of the 2020 Census was 403,455, making it the 47th-most populous city in the United States and the 9th-most populous in California. Bakersfield is a significant hub for both agriculture and energy production. Kern County is California’s most productive oil-producing county and the fourth most productive agricultural county (by value) in the United States. Industries in and around Bakersfield include natural gas and other energy extraction, mining, petroleum refining, distribution, food processing, and corporate regional offices.