For Sale
$3,201,000

2050 White LnBakersfield, CA 93304

High-Yield NNN Lease in Bakersfield, CA

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple, single-tenant, net-leased Chase Bank property located at 2050 White Ln, Bakersfield, CA 93304. The 4,708 square foot building, constructed in 2001 and renovated in 2009, sits on a 33,541 square foot lot and boasts a 4.00% cap rate with a current NOI of $128,040. The property features a drive-thru and is situated in a high-traffic area as an outparcel to a Superior Grocers anchored shopping center near the 99 Freeway, presenting potential for future redevelopment. The lease, originally commencing August 9, 2001, has a remaining term of 2.6 years, expiring June 14, 2027, with two five-year lease options and 10% rent bumps every five years. The tenant, Chase Bank, is credit-rated, ensuring consistent income. The asking price is $3,201,000, translating to a price per square foot of $679.91. The property's APN is 405-330-30-00-4. This is a 1031 exchange eligible property offering a strong return on investment with a stable, nationally recognized tenant. Branch deposits as of June 30, 2022, were approximately $129 million. The property is 100% occupied since its opening on August 9, 2001. This is a rare opportunity to acquire a high-quality, net-leased retail property with significant upside potential.

Highlights

  • Fee-simple, single-tenant Chase Bank net-leased property in Bakersfield, CA.
  • 4,708 SF building on a 33,541 SF lot, built in 2001, renovated in 2009.
  • 4.00% cap rate, $128,040 NOI, $3,201,000 asking price ($679.91/SF).
  • Drive-thru, outparcel to Superior Grocers-anchored center near the 99 Freeway; 2.6 years remaining lease (expires 6/14/2027), two 5-year options with 10% rent increases.
  • 1031 exchange eligible; Credit-rated tenant, 100% occupied since 8/9/2001.

Property Details for 2050 White Ln

Property type
Retail properties, Banks
Square Feet
4,708 SF
Year Built/Renovated
2001/2009
Buildings
1
Stories
1

Location Insight

City
Bakersfield
County
Kern
State
California
Latitude
35.3180062
Longitude
-119.0260369
2050 White Ln, Bakersfield, California

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2050 White Ln
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