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 Exclusively Listed By: 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 1. 2. 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.