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Shopping Neighborhood

Mount Vernon

2677-2695 Mount Vernon Ave, Bakersfield, CA 93306

Listing Price: $4,250,000

Cap Rate
6.34%
Gross SF
25,362
Rentable SF
25,362
Price/Gross SF
$167.57
Lot Size
1.45 acres
Year Built
1974

Investment Overview

Marcus & Millichap is pleased to present the strategically located Albertsons shadow anchored retail shops in one of the largest and thriving cities in California. Located in Bakersfield, CA off of the major thoroughfare of Mount Vernon Avenue the offering is comprised of two retail shop buildings totaling approximately 25,362 square feet on approximately 63,161 square feet of land. The subject neighborhood shopping center is anchored by the essential Albertsons grocery store as well as supported by other essential tenants such as DD’s Discounts, Bank of America and McDonald’s. Daily traffic at the signalized intersection of Mount Vernon Avenue and Columbus Street draws over 32,000 cars per day. The dense trade area has over 218,000 people in a five-mile radius with the average household income of $55,198. The center also benefits from freeway visibility off of the highly traveled CA-178 freeway and is surrounded by dense retail synergy of over one million square feet of essential anchored retail centers with tenants such as Home Depot, Lowes, Walmart, Target, Big Lots, Smart & Final, Office Max, 99 Cents Only, CVS Pharmacy, Big 5, Walgreens, Rite Aid, PetSmart, Goodwill to name a few.

Investment Highlights

  • Albertsons Shadow-Anchored Shops Totaling Approximately 25,362 Square Feet on Approximately 63,161 Square Feet of Land.
  • Stable Cash Flow Benefiting From High Traffic Busy Neighborhood Center With Value-Add Potential Returns Reaching Over 9.59 Percent Cash On Cash.
  • Located in Heavily Traveled and Dense Retail Corridor Over 32,000 CPD with Visibility from Adjacent CA-178 Freeway.
  • Surrounded by Over 1 Million Square Feet of Essential Anchored Shopping Centers Anchored by Tenants Such as Home Depot, Lowes, Walmart, Target, Big Lots, Smart & Final, Office Max, 99 Cents Only, CVS Pharmacy, Big 5, Walgreens, Rite Aid, Petsmart, Goodwill.
  • The Site is Approximately 2.75 Miles from Downtown Bakersfield, 0.85 Miles from Bakersfield College (23,195 Students) and 0.6 Miles from the Bakersfield Country Club.
  • The Dense Trade Area has Over 218,000 People in a Five-Mile Radius with the Average Household Income of $55,198.

Exclusively Listed By

Financing By

Listing Price: $4,250,000

Cap Rate
6.34%
Gross SF
25,362
Rentable SF
25,362
Price/Gross SF
$167.57
Lot Size
1.45 acres
Year Built
1974

Investment Highlights

  • Albertsons Shadow-Anchored Shops Totaling Approximately 25,362 Square Feet on Approximately 63,161 Square Feet of Land.
  • Stable Cash Flow Benefiting From High Traffic Busy Neighborhood Center With Value-Add Potential Returns Reaching Over 9.59 Percent Cash On Cash.
  • Located in Heavily Traveled and Dense Retail Corridor Over 32,000 CPD with Visibility from Adjacent CA-178 Freeway.
  • Surrounded by Over 1 Million Square Feet of Essential Anchored Shopping Centers Anchored by Tenants Such as Home Depot, Lowes, Walmart, Target, Big Lots, Smart & Final, Office Max, 99 Cents Only, CVS Pharmacy, Big 5, Walgreens, Rite Aid, Petsmart, Goodwill.
  • The Site is Approximately 2.75 Miles from Downtown Bakersfield, 0.85 Miles from Bakersfield College (23,195 Students) and 0.6 Miles from the Bakersfield Country Club.
  • The Dense Trade Area has Over 218,000 People in a Five-Mile Radius with the Average Household Income of $55,198.

Investment Overview

Marcus & Millichap is pleased to present the strategically located Albertsons shadow anchored retail shops in one of the largest and thriving cities in California. Located in Bakersfield, CA off of the major thoroughfare of Mount Vernon Avenue the offering is comprised of two retail shop buildings totaling approximately 25,362 square feet on approximately 63,161 square feet of land. The subject neighborhood shopping center is anchored by the essential Albertsons grocery store as well as supported by other essential tenants such as DD’s Discounts, Bank of America and McDonald’s. Daily traffic at the signalized intersection of Mount Vernon Avenue and Columbus Street draws over 32,000 cars per day. The dense trade area has over 218,000 people in a five-mile radius with the average household income of $55,198. The center also benefits from freeway visibility off of the highly traveled CA-178 freeway and is surrounded by dense retail synergy of over one million square feet of essential anchored retail centers with tenants such as Home Depot, Lowes, Walmart, Target, Big Lots, Smart & Final, Office Max, 99 Cents Only, CVS Pharmacy, Big 5, Walgreens, Rite Aid, PetSmart, Goodwill to name a few.

Exclusively Listed By

Financing By

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