3401| n. sillect avenue
TRANSCRIPT
3401| N. SILLECT AVENUEBAKERSFIELD, CA
INVESTMENT OFFERING
Exclusively Listed By:
LEE & ASSOCIATES® - NEWPORT BEACH | Corporate ID #01197433100 Bayview Circle, Suite 600, Newport Beach, California 92660 949.724.1000 | 949.862.9048 | www.lee-associates.com
David Kluveroffice: [email protected] #: 01022800
$9,354,240
This Confidential Offering Memorandum (this “Memorandum”) is being delivered subject to the terms of the Confidentiality Agreement signed by you (the “Confidentiality Agreement”) and constitutes part of the Evaluation Material (as described in the Confidentiality Agreement). It is being given to you for the sole purpose of evaluating the possible acquisition of 3401 N Sillect Anue, Bakersfield, California (“Property”), and is not to be used for any other purpose or made available to any other party without the prior written consent of Lee & Associates Realty Group Newport Beach, Inc. (“Broker”).
This Memorandum was prepared by Broker based on information supplied by 3 G SILLECT PARTNERS L P (“Owner”) and the Broker. It contains selected information about the Property and the real estate market but does not contain all the information necessary to evaluate the acquisition of the Property. The financial projections contained herein or in any other Evaluation Material are for general reference only. They are based on assumptions relating to the general economy and local competition, among other factors. Accordingly, actual results may vary materially from such projections. Various documents have been summarized herein to facilitate your review; these summaries are not intended to be a comprehensive statement of the terms or a legal analysis of such documents.
While the information contained in this Memorandum and any other Evaluation Material is believed to be reliable, neither Broker nor Owner guarantees its accuracy or completeness. Because of the foregoing and since the Property will be sold on an “AS IS”, “WHERE IS” basis, a prospective purchaser must make its own independent investigations, projections, and conclusions regarding the acquisition of the Property without reliance on this Memorandum or any other Evaluation Material. Although additional Evaluation Material (which may include engineering, environmental or other reports) may be provided to qualified parties as marketing proceeds, prospective purchasers should seek advice from their own attorneys, accountants, and engineering/environmental experts.
Owner expressly reserves the right, at its sole discretion, to reject any offer to purchase the Property or to terminate any negotiations with any party at any time with or without written notice. Owner shall have no legal commitment or obligations to any prospective purchaser until a written sale agreement has been fully executed, delivered and approved by Owner and any conditions to Owner’s obligations thereunder have been satisfied or waived. Owner has retained Broker as its exclusive broker and will be responsible for any commission due to Broker in connection with a sale of the Property pursuant to a separate agreement. Broker is not authorized to make any representation or agreement on behalf of Owner. Each prospective purchaser will be responsible for any claims for commissions by any other broker in connection with a sale of the Property if such claims arise from acts of such prospective purchaser, or its broker.
This Memorandum is the property of Owner and Broker and may be used only by parties approved by Owner and Broker. No portion of this Memorandum may be copied or otherwise reproduced or disclosed to anyone except as permitted under the Confidentiality Agreement.
Exclusively listed by:
David KluverSVP /[email protected] #: 01022800
CONFIDENTIALITYAGREEMENT
INVESTMENT SUMMARY
Lee & Associates Realty Group - Newport Beach, Inc. Is Pleased To Present The Opportunity To Acquire 3401 N. Sillect Avenue, Bakersfield, CA (The “Property”), A 67,200 SF Single Tenant NNN Industrial/Showroom Property Investment.
PRICE: $9,354,240 ($139.20/SF)
NET OPERATING INCOME: $467,712
CAPITALIZATION RATE: 5%
NET RENTABLE AREA: 67,200 SF
YEAR BUILT: 2008
LOT SIZE: ±186,436 SF (4.28 Acre)
TYPE OF OWNERSHIP: Fee Simple
INVESTMENT HIGHLIGHTS » Rare, Single Tenant, State Of The Art Industrial Investment Opportunity
» Kal Freight, Inc “Modern” Transportation Center (8 Locations Throughout the US)
» Large 4.28 Acre Site - Majority Is Fenced Yard With Latest Technology Security Equipment.
» Tenant Has Made Significant Capital Improvements To Property, Ensuring long Term Tenancy
» Future Development Opportunity - Located In Major Medical Corridor With Bakersfield Heart Hospital, Centric Health, Central Cardiology (CCME) & Many Others Health Companies
» Custom Slate Building Entry Facade
» Excellent Condition - 2008 Construction
» Attractive 2% Annual Rent Increases
SITE
AERIAL VIEW
GILMORE AVEGILMORE AVE
STAN
DARD
ST
STAN
DARD
ST
GOLDEN STATE AVE
GOLDEN STATE AVE
BUCK
OW
EN B
LVD
BUCK
OW
EN B
LVD
N
S
W E
99
178
Former Home Depot
Dignity Health
Kern County Superior
Court
KERN RIV
ER
YosemitePathology
Silect Surgery GroupCentral
Cardiology
Bakersfield Heart
Hospital
» Brain & Spine Center » Lung & Sleep Disorder Center
» Bakersfield Foot & Ankle Surgeons
» Kern Endocrine Center » William F Baker M.D. & Associates
» Ian Armstrong M.D.
Kern County Child Support Services
Kern County Family Health
Care
SILLECT AVE (2,950 AADT
SILLECT AVE (2,950 AADT
Kern County Water Agency
SITEPLAN
LEASE SUMMARY
TENANT Kal Freight, Inc.
LEASE TYPE NNN
LEASE START July 1, 2021
LEASE END June 30, 2026
LEASE EXTENSION OPTIONS One (1) 5-Year
RENT INCREASES Annual (2% Rent Increases)
BUILDING SIZE 67,200 SF
NET MONTHLY RENT(±20-30% UNDER MARKET) $38,976 ($0.58 NNN/SF)
NET OPERATING INCOME $467,712
As a provider of modern transportation services since 2014, KAL FREIGHT INC (a Southern California located Asset Based Carrier with over 600 trucks and 1500 trailers) offers full range of transportation and logistics services to meet all the needs of modern business.
Being a dynamic modern transportation company with strategic corporate location based in Ontario, California and its extended distribution warehouses in Texas, Indiana, New Mexico, Oklahoma, Georgia, North Carolina and New Jersey, Kal Freight can quickly and efficiently move any package, pallet or truckload across United States.
Kal Freight have owned and leased thousands of sq. ft. of modern warehouse space in above mentioned states which further helps in rendering services and executing the business professionally.
REGIONAL MAP
SITE
AREASUMMARY
CITY OF BAKERSFIELDBakersfield is a city in Kern County, California, United States. It is the county seat and largest city of Kern County. The city covers about 151 sq mi (390 km2) near the southern end of the San Joaquin Valley and the Central Valley region. Bakersfield’s population as of the 2020 census was 403,455, making it the 48th-most populous city in the United States of America and the 9th-most populous city in California.
The 2010 United States Census reported that Bakersfield had a population of 347,483. The population density was 2,419.6 people per square mile (934.2/km2). The ethnic makeup of Bakersfield was 197,389 (56.8%) White, 28,238 (8.1%) African American, 5,102 (1.5%) Native American, 21,432 (6.2%) Asian (2.1% Indian, 2.0% Filipino, 0.5% Chinese, 0.4% Korean, 0.2% Japanese, 478 (0.1%) Pacific Islander), 77,686 (22.4%) from other races, and 17,068 (4.9%) from two or more races. Hispanics or Latinos of any race were 158,205 persons (45.5%). Among the general population, 39.5% are Mexican, 1.3% Salvadoran, 0.5% Guatemalan, and 0.10% Colombian. Non-Hispanic Whites were 37.8% of the population in 2010, compared to 71% in 1980.
Bakersfield is a significant hub for both agriculture and energy production. Kern County is the most productive oil-producing county in California 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.
Bakersfield’s historic and primary industries have related to Kern County’s two main industries, oil and agriculture. Kern County in 2013 was the most oil productive county in the US. Kern County is a part of the highly productive San Joaquin Valley, and ranks in the top five most productive agricultural counties in the nation. Major crops for Kern County include: grapes, citrus, almonds, carrots, alfalfa, cotton, and roses. The city serves as the home for both corporate and regional headquarters of companies engaged in these industries.
Bakersfield also has a growing manufacturing and distribution sector. Several companies have moved to Bakersfield because of its inexpensive land, as well as proximity to international ports in both Los Angeles and Oakland. Other companies have opened regional offices and non-oil/agricultural businesses because of Bakersfield’s and Kern County’s business friendly policies, such as having no local utility or inventory taxes.
Bakersfield is the largest city to have the lowest sales tax in California at the state minimum of 7.25%.
About Bakersfield. Bakersfield, California https://en.wikipedia.org/wiki/Bakersfield,_California Accessed October 7,2021
DEMOGRAPHICS
1 MILE 3 MILES 5 MILES
Population (2010) 3,947 93,006 264,106
Population (Current ) 4,234 100,035 284,990
Population (5 Yr. Forecast ) 4,357 102,761 292,807
Median Age 38 34 34
Median Household Income $48,491 $51,155 $60,547
Average Household Income $82,624 $66,085 $74,634
Households (Current ) 1,738 36,434 96,374
Median Home Value $179,408 $140,206 $151,409
Median Rent $730 $767 $849
AREASUMMARY
Area and Density
1 Mile 3 Miles 5 Miles
Area (Square Miles) .84 31.91 141.2
Density(Population Per
Square Mile)
5,012 3,135 2,018
General Population Characteristics
1 Mile 3 Miles 5 Miles
Male 1,980 49,129 140,024
Female 2,254 50,906 144,966
Density 5,012 3,135 2,018
Urban 4,234 100,033 284,179
Rural -- 2 811
Demographics
3401 N SILLECT AVE BAKERSFIELD CA 93308
DISCLAIMER: The information contained herein has been obtained from the property owner or other third party and is provided to you without verification as to accuracy. We (Lee & Associates, its brokers, employees, agents,
principals, officers, directors and affiliates) make no warranty or representation regarding the information, property, or transaction. You and your attorneys, advisors and consultants should conduct your own investigation of the property and
transaction.
Exclusively Listed By:
David Kluveroffice: 949.724.4716
[email protected] #: 01022800