A Vacant 9,800 Square Foot Retail Building Located in the Rosedale

Brandon Michaels Matthew Luchs Senior Managing Director of Investments First Vice President Investments Senior Director, National Retail Group COO of The Brandon Michaels Group Tel: 818.212.2794 Tel: 818.212.2727 [email protected] [email protected] 04 12 18 28 CA License: 01434685 CA License: 01948233 Executive Property Area Financial www. BrandonMichaelsGroup .com www. BrandonMichaelsGroup .com Summary Overview Overview Analysis Andrew Leff John Andreasen First Vice President Investments Investments Associate Director, National Retail Group National Retail Group Tel: 818.212.2815 Tel: 559.476.5585 [email protected] [email protected] License #01865688 CA License: 02093301 www. BrandonMichaelsGroup .com www. BrandonMichaelsGroup .com

2 3 BAKERSFIELD

71,700 Allen Road Allen

Rosedale Highway Intersection: 71,700 VPD

4 13129 Rosedale Hwy Executive Summary 5 The Offering

A vacant 9,800 square foot retail building located in the Rosedale Gateway Plaza with 50 parking spaces and a drive-thru located on 55,757 square feet of land in affluent Bakersfield, CA The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively represent for sale 13129 Rosedale Highway . 13129 Rosedale Highway is located west of the signalized intersection of Rosedale Highway and Allen Road, an intersection which features 71,700 vehicles per day. It is part of a larger retail center, the Rosedale Gateway Plaza, which is also home to Starbucks, Goodwill, and Verizon. Directly east of the property on Rosedale Highway is a shopping center home to tenants such as Chase Bank, McDonalds, Albertsons, Wells Fargo Bank, and Chevron.

The subject property is located five room. 13129 Rosedale Highway features miles from California State University 50 parking spaces, at a parking ratio Bakersfield, a university which offers more of 5.10 spaces per 1,000 square feet of than 50 bachelor’s and master’s degree building. programs, enrolls over 11,000 students, and employs 1,210 faculty and staff The neighboring property to the east, members. The college inhabits a 375-acre 13125 Rosedale Highway, is also available lot surrounded by national retailers such for sale. 13125 and 13129 Rosedale as Vons, Jamba Juice, California Pizza Highway can be purchased separately or Kitchen, Subway, and McDonalds. together. 13129 Rosedale Highway is 100% vacant, and 13125 Rosedale Highway The building is the former site of the Kern is 40% vacant, making this an excellent Schools Federal Credit Union Banking offering for an owner-user or value-add Branch, as such, it features a large lobby investor to stabilize the properties. and teller line, banking vault, double Executive Summary drive-thru, private restrooms, private offices, a conference room, and a break 6 13129 Rosedale Hwy Executive Summary 7 investment highlights 13129 ROSEDALE HWY investment highlights

AFFLUENT DEMOGRAPHICS EXCELLENT OWNER-USER OPPORTUNITY • Average household income is $136,589 • 9,800 square foot retail building located in the Rosedale within one mile of the property, $128,514 Gateway Plaza with 50 parking spaces and a drive-thru within three miles of the property, and $125,073 within five miles of the property • Part of a larger retail center, the Rosedale Gateway Plaza, which is also home to Starbucks, Goodwill, and • There are 8,347 people located within one Verizon mile of the property, 80,427 people located within three miles of the property, and • 100% Vacant 145,639 people located within five miles of the property • Can be purchased on its own, or along with the adjacent property at 13125 Rosedale Highway • There are 2,795 households located within one mile of the property, 26,546 households located within three miles of the property, and 49,360 households located within five miles of the property

THE FOX THEATER THE BEALE MEMORIAL CLOCK TOWER

STRONG BAKERSFIELD LOCATION, FIVE MILES FROM CALIFORNIA STATE UNIVERSITY BAKERSFIELD

• The university offers more than 50 bachelor’s and master’s degree programs, enrolls over 11,000 students, and employs 1,210 faculty and staff members

• The college inhabits a 375-acre lot surrounded by national retailers such as Applebee’s Grill + Bar, Ulta Beauty, Vons, Rite Aid, Williams-Sonoma, Subway, McDonald’s, P.F. Chang’s, BJ’s Restaurant & Brewhouse, Panera Bread, Target, Yogurtland, and CVS Pharmacy

THE HOTEL PADRE - LANDMARK

8 13129 Rosedale Hwy Executive Summary 9 NEARBY AMENITIES Retail

3. 8 5 4. property summary

5. 4 Address 13129 Rosedale Highway Bakersfield, CA 93314 6.

Price $2,500,000 7. Building Size 9,800 SF

8. Lot Size 55,757 SF

7 3 5 Price/SF (Building) $255 Restaurants Intersection: Allen Road 6 71,700 VPD 4 Price/SF (Land) $45 3 1. 2 Occupancy Vacant

2. 2 Parking 50 Spaces; 5.10 per 1,000 SF

3. 1 Year Built 2007

APN Number 495-010-63-00-4 4. Rosedale Highway 1 Zoning C-2

10 13129 Rosedale Hwy Executive Summary 11 property description

LOCATION 13129 Rosedale Highway Bakersfield, CA 93314

SITE The property is located west of the signalized intersection of Rosedale Highway and Allen Road.

BUILDING SIZE 9,800 SF

LOT SIZE 55,757 SF

BAKERSFIELD COLLEGE PARKING 50 Parking Spaces; A Parking Ratio of 5.10 Parking Spaces per 1,000 SF

ZONING C-2

CALIFORNIA STATE TRAFFIC COUNTS UNIVERSITY, BAKERSFIELD Intersection of Rosedale Highway and Allen Road: PROPERTY OVERVIEW 71,700 vehicles per day

12 13129 Rosedale Hwy Property Overview 13 property PHOTOS

14 13129 Rosedale Hwy Property Overview 15 parcel map FLOOR PLAN

Rosedale Highway

Allen Road

16 13129 Rosedale Hwy Property Overview 17 of the total national production. Other popular agricultural products out of the county include potatoes, lettuce, garlic, onions, tomatoes, bell peppers, and watermelons. There are PROPERTY OVERVIEW a total of over 100,000 acres of vegetables farmed each year within the county, amounting to approximately $320 million.

The subject property is located five miles from California State University Bakersfield. The university was established in 1965, and has since grown to enroll over 11,000 students. The area surrounding the university is lined with national retailers, such as Applebee’s Grill + Bar, Ulta Beauty, Vons, Rite Aid, Williams-Sonoma, Subway, McDonald’s, P.F. Chang’s, BJ’s Restaurant & Brewhouse, Panera Bread, Target, Yogurtland, and CVS Pharmacy.

The submarket features affluent demographics, with average household income being $136,589 within one mile of the property, $128,514 within three miles of the property, and $125,073 within five miles of the property. There are 8,347 people located within one mile of the property, 80,427 people located within three miles of the property, and 145,639 people located within five miles of the property. There are 2,795 bakersfield, CA Location households located within one mile of the property, 26,546 13129 Rosedale Highway Bakersfield is a city in Kern County, California. Kern county is households located within three miles of the property, and Primeis located in an affluent the most productive oil-producing county in California, and 49,360 households located within five miles of the property. sector of Bakersfield, a city the fourth-most productive agricultural county (by value) in which is projected to see the United States. an increase in market retail Oil provides jobs for approximately 15,000 people in Kern rents of over 7% over the County. The county produces 66% of the oil in California, 10% next five years of the U.S. oil supply, and 1% of the global oil production.

Kern County is the leading producer of carrots with over 80%

18 13129 Rosedale Hwy Area Overview 19 Bakersfield, California Bakersfield is a city on the Kern River, north of Los Angeles. Displays at the Buena Vista Museum of Natural History focus on California State University, Bakersfield (CSUB, geology and paleontology. On the city’s northeastern edge, the California Living Museum explores the state’s flora and fauna, and Cal State Bakersfield, or CSU Bakersfield) is a has a reptile house and a touch tank. Northeast, trails wind through the mountains of the Kern River Ranger District, part of Sequoia public university in Bakersfield, California. It National Forest. Bakersfield is a significant hub for both agriculture and energy production. Kern County is the most productive oil- USCB was established in 1965 as Kern State College and officially in 1968 as California State College producing county in California and the fourth-most productive agricultural county (by value) in the United States. Industries in and California State University, around Bakersfield include natural gas and other energy extraction, mining, petroleum refining, distribution, food processing, and Bakersfield on a 375-acre campus, becoming Bakersfield is a public university the 20th school in the 23-campus California corporate regional offices. The city is also the birthplace of the country music genre known as the Bakersfield sound. The historic in Bakersfield, California. It was State University system. First classes were held downtown Fox Theater has been renovated and is now a venue for concerts, musicians, comedians, and movies. established in 1965 as Kern State October 1, 1970. The university offers 45 different Bachelor’s degrees and 21 types of Master’s College and officially in 1968 as degrees. The university offers a Doctoral Program California State College Bakersfield in Educational Leadership (Ed.D). on a 375-acre campus, becoming the 20th school in the 23-campus As of fall 2020, there were more than 11,000 undergraduate and graduate students at either California State University system. California State College, the main campus in Bakersfield or the satellite Former Name campus, Antelope Valley Center in Lancaster, Bakersfield (1971–82) California. CSU Bakersfield has more than 50,000 Type Public state university alumni from its four schools: Arts and Humanities; Established 1965 Business and Public Administration; Natural Sciences, Mathematics and Engineering; and Endowment $26.9 Million (2020) The Fox Theater Truxtun Tower The Baker Street Branch Library Social Sciences and Education. The university is Academic staff 662 (Fall 2017) primarily a commuter campus serving the city of Administrative Bakersfield. CSU Bakersfield’s petroleum geology 526 (Fall 2017) program is the only one offered by a public Staff university west of the Rockies. The university is a Students 11,397 (between both Hispanic-serving institution. Cal State Bakersfield Bakersfield and CSUB, academics are grouped into four schools with the AV campus) (Fall 2020) exception of interdisciplinary programs: School of Undergraduates 9,788 (Fall 2020) Arts & Humanities (A&H); School of Business and Postgraduates 1,609 (Fall 2020) Public Administration (BPA); School of Natural Sciences, Mathematics, and Engineering (NSME); Website www.csub.edu Downtown Bakersfield Garces Circle The Bakersfield Californian Building School of Social Sciences & Education (SSE).

20 13129 Rosedale Hwy Area Overview 21 BAKERSFIELD, CA DEMOGRAPHICS DEMOGRAPHICS BY RADIUS

MEDIAN AGE 1-MILE 3-MILE 5-MILE BAKERSFIELD’S 8,347 80,427 145,639 TOTAL POPULATION 2021 Population 31 2021 Households 2,795 26,546 49,360 50%MALE 50%FEMALE 2021 Average Household 384,159 3 3 2.9 $136,589 145,639 Size Average HH income Population EDUCATION within a 1-mile radius within a 5-mile radius Annual Growth 2021-2026 0.4% 0.9% 0.8% 2021 Median Age 36.1 34.2 35.2 2021 Owner Occupied 2,298 21,762 38,691 Households 2021 Renter Occupied 553 6,042 12,552 38,691 12,552 Households 17% 26% Owner Occupied Housing Renter Occupied Housing 2021 Average Household Less than High School Some32 college% or 22%Bachelors $136,589 $128,514 $125,073 within a 5-mile radius within 5-mile radius Income High School orGED Associates Degree Degree or higher 2021 Median Household $108,839 $105,412 $102,392 Income Businesses 258 2,117 4,296

49,360 4,296 Households Businesses within a 5-mile radius within a 5-mile radius

22 13129 Rosedale Hwy Area Overview 23 RENT ROLL TENANT SF SF% PRO FORMA RENT PRO FORMA RENT/SF Vacant 9,800 100% $15,680.00 $1.60 TOTAL 9,800 100% $15,680.00 $1.60

PRICING

Address 13129 Rosedale Highway Bakersfield, CA 93314

Price $2,500,000

Building Size 9,800 SF

Lot Size 55,757 SF

Price/SF (Building) $255

Price/SF (Land) $45

Occupancy Vacant

Parking 50 Spaces; 5.10 per 1,000 SF

Year Built 2007

APN Number 495-010-63-00-4

Zoning C-2

24 13129 Rosedale Hwy Financial Analysis 25 CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

SPECIAL COVID-19 NOTICE All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.

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