This Retail Property is Off-Market.

3900-4300 Coffee Road
Bakersfield, CA 93308 ·

49,980 SF · Retail For Sale

N/A

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Coffee at Riverlakes Shopping Center

Price N/A Cap Rate 9.33%
Gross Leasable Area 49,980 SF Occupancy 96%
Property Type Retail Tenancy Multiple
Property Sub-type Neighborhood Center Year Built 2006
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 10.93 AC
Listing ID: 15394677 Date Created: 10/18/2007 Last Updated: 04/15/2011

Description

PRICE REDUCED AGAIN!!!!!!! The Coffee at Riverlakes Shopping Center is strategically located on Coffee Road, the "spine" linking north and south Bakersfield's thoroughfare. The center offers the only fully signalized direct ingress and egress access along the Coffee road corridor. Winco Foods owns and occupies their 97,000+/- square foot facility on an approximate 13-acre parcel. In addition to Winco Foods, the Coffee at Riverlakes Shopping Center features seven separate buildings of which six are the subject of this offering. The individual buildings provide for a solid mix of pad and inline tenants. Union Bank of California and The Bank of Sierra represent our financial intuition. El Pollo Loco, China Bistro and Juice It Up co-occupy the food court. Riverlakes Wellness Institute, BASE Athletics & Equipment and Serenity Salon occupy the majority of the inline space. Assumable financing of $8.9M(+/-) at 6.15% fixed; matures in February of 2017 provides for a favorable yield.

The Coffee at Riverlakes Shopping Center fronts Coffee Road, the main N/S arterial linking NW and SW Bakersfield. The trade area is commonly known as "Riverlakes Ranch" a newer masterplanned community developed over the past 10-years. Several national homebuilders have contributred to dynamic growth in this upscaled community. In addition to single-family residences, several well-established, higher-end multi-family developments mesh well to create the perfect demographics for a strong trade area.

Highlights

  • 53% of the GLA in out-parcel buldings fronting Coffee Road
  • Majorty of tenants on annual rent increases
  • Established upscale trade area
  • ONLY DIRECT SIGNALIZED INGRESS/EGRESS ON THE COFFEE ROAD CORRIDOR

Research

3900-4300 Coffee Road, Bakersfield, CA 93308 (Kern County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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