7.24% Cap Rate | Tri Counties Bank (TCBK) | 5000 California Ave
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7.24% Cap Rate | Tri Counties Bank (TCBK) 5000 California Ave
34,249 SF 100% Leased Office Building Bakersfield, CA 93309 $9,950,000 ($291/SF) 7.24% Cap Rate
Investment Highlights
- 100% Leased
- Drive Thru for Bank Branch
- 7.24% Cap Rate | $719,960 NOI
- 75% Leased to Anchor Tenant (Tri Counties Bank (Nasdaq: TCBK) $10 Billion in Assets)
- Located on Signalized Hard Corner
- Newer Solar Panel System
Executive Summary
Trophy Asset! 100% Leased/75% leased to Anchor credit Tenant (Tri Counties Bank (Nasdaq: TCBK) $10 Billion in Assets). TCBK has a drive-thru bank branch on site and new ATM as well. Located on a busy signalized hard corner near Highways 99 and 58. Also located in the heart of the Midtown business district. Owner has recently invested in a new Solar Panel System and Glass enclosures within the Common Areas. Long term Owner selling. Very well maintained asset. Call for more details.
Data Room Click Here to Access
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
34,249 SF
Building Class
A
Year Built/Renovated
1985/2018
Price
$9,950,000
Price Per SF
$291
Cap Rate
7.24%
NOI
$720,380
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
17,125 SF
Building FAR
0.39
Lot Size
2.02 AC
Zoning
CO
Parking
136 Spaces (3.97 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
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PROPERTY TAXES
| Parcel Number | 331-023-09-00-7 | Improvements Assessment | $6,280,000 |
| Land Assessment | $1,210,000 | Total Assessment | $7,490,000 |
PROPERTY TAXES
Parcel Number
331-023-09-00-7
Land Assessment
$1,210,000
Improvements Assessment
$6,280,000
Total Assessment
$7,490,000
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7.24% Cap Rate | Tri Counties Bank (TCBK) | 5000 California Ave
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