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Ming Around the Corner 2 Retail Properties in Bakersfield, CA
Investment Highlights
- Proven & Resilient Grocery Anchor: Anchored by a successful FoodMaxx with a very low 4.24% occupancy cost, demonstrating exceptional profitability
- Strategic, High-Traffic Location: Positioned at a signalized intersection with combined traffic counts of ±45,000 vehicles per day
- Dense Infill Demographics: The trade area features a large, stable consumer base with over 141,000 residents within 3 miles
- Significant Value-Add Potential: Projected 4.12% NOI CAGR over 5 years driven by the lease-up of ±10,470 SF and redevelopment of the dark Walgreens
- Dominant Tenancy in Primary Trade Area: Key tenants like BioLife and Stanton Optical are the sole locations in the market or wider area
Executive Summary
Ming Around the Corner is a ±132,469 SF value-add grocery-anchored shopping center in Bakersfield, California. Ideally positioned in one of Bakersfield’s most dominant retail corridors just off CA State Route 99, the property is surrounded by a dense trade area with over 141,000 residents and $1.4B in consumer spending within a three-mile radius.
Ming Around the Corner is anchored by FoodMaxx, which has successfully operated at the site for over two decades. The center is further complemented by a diverse mix of national and daily-needs tenants, including BioLife Plasma Services, Skechers, Stanton Optical, and AT&T.
Currently 92.1% leased, the property offers strong in-place cash flow with significant value-add potential through the lease-up of available suites and the repositioning of a dark, drive-thru Walgreens pad.
Ming Around the Corner is anchored by FoodMaxx, which has successfully operated at the site for over two decades. The center is further complemented by a diverse mix of national and daily-needs tenants, including BioLife Plasma Services, Skechers, Stanton Optical, and AT&T.
Currently 92.1% leased, the property offers strong in-place cash flow with significant value-add potential through the lease-up of available suites and the repositioning of a dark, drive-thru Walgreens pad.
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 138,642 SF |
| Number of Properties | 2 | Total Land Area | 19.31 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 138,642 SF |
| Total Land Area | 19.31 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 4320-4422 Ming Ave, Bakersfield, CA 93309 | Retail | 132,469 SF | 1979 | - |
|
AT&T
4300 Ming Ave, Bakersfield, CA 93309 |
Retail | 6,173 SF | 1980 | - |
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