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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.
BAKERSFIELD, CA
Del Taco (Absolute NNN)
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOURMARCUS & MILLICHAP AGENT FOR MORE DETAILS.
NON-ENDORSEMENT NOTICE
NET LEASED DISCLAIMER
Del Taco (Absolute NNN)BAKERSFIELD, CA
Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:
The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.
As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.
Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors.
Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.
Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.
By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.
Section 1 PRICING AND FINANCIAL ANALYSIS
Section 2 PROPERTY DESCRIPTION
Section 3 MARKET OVERVIEW
Section 4 DEMOGRAPHIC ANALYSIS
TABLE OF CONTENTS
Del Taco (Absolute NNN)
1
PRICING AND FINANCIAL ANALYSIS
Del Taco (Absolute NNN)BAKERSFIELD, CA
Existing Financing
Loan Type Free and Clear
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
FINANCING
Annualized Operating Data
3624 California AvenueBakersfield, CA 93309
Price $2,375,000
Down Payment 100% / $2,375,000
Rentable Square Feet 2,164
CAP Rate 7.01%
Year Built 1998
Lot Size 0.91 +/- Acres
Type of Ownership Fee Simple
2
Location
PRICING AND FINANCIAL ANALYSIS
Del Taco (Absolute NNN)BAKERSFIELD, CA
Rent Increases Annual Rent Monthly Rent
01/01/2014 - $166,460.00 $13,871.67
01/01/2017 -
Base Rent ($76.92/SF) $166,460
Net Operating Income $166,460
Total Return 7.01% / $166,460
Tenant Trade Name Del Taco
Ownership Private
Tenant Franchisee
Lease Guarantor Personal Guarantee
Lease Type Absolute Net
Roof and Structure Tenant Responsible
Lease Term Twenty Years
Lease Commencement Date January 1, 1999
Rent Commencement Date January 1, 1999
Lease Expiration Date December 31, 2019
Term Remaining on Lease Five Years Plus
Increases January 1, 2017 (+CPI)
Options Two, Five-Year Terms
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
Tenant Summary
FINANCIAL OVERVIEW
*01/01/2017 - 12/31/2019: Annual Rental Increase is Base Rent
Plus CPI, Same Goes for the Options
Information may be time sensitive and subject to change. Please
contact your local Marcus & Millichap Capital Corporation
representative, Noah Juran, at 513-878-7728 or
noah.juran@marcusmillichap.com
3
PRICING AND FINANCIAL ANALYSIS
Del Taco (Absolute NNN)BAKERSFIELD, CA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
Property Name Del Taco (Absolute NNN)
Property Address 3624 California Avenue
Bakersfield, CA 93309
Property Type Net Leased Restaurant Fast Food
Rentable Square Feet 2,164
Tenant Trade Name Del Taco
Ownership Private
Tenant Franchisee
Lease Guarantor Personal Guarantee
Lease Commencement Date January 1, 1999
Rent Commencement Date January 1, 1999
Lease Expiration Date December 31, 2019
Term Remaining on Lease Five Years Plus
Lease Type Absolute Net
Roof and Structure Tenant Responsible
Lease Term Twenty Years
Increases January 1, 2017 (+CPI)
Options to Renew Two, Five-Year Terms
Options to Terminate None
Options to Purchase None
First Right of Refusal None
No. of Locations 547+
Headquartered Lake Forest, CA
Web Site www.deltaco.com
Franchisee Profile
Years in the Business 1961
TENANT OVERVIEW
Del Taco is an privately held American fast-food restaurant chain which specializes in American-style Mexican cuisine as well as American foods
such as burgers, fries and shakes.
Marcus & Millichap is pleased to bring to market this fee simple single tenant Del Taco in Bakersfield, California. This 2,164-square foot property was constructed in 1998 on approximately one acre with multiple points of ingress and egress from California Avenue. There are more than five years remaining on a twenty year, absolute triple-net (NNN) lease with no landlord responsibilities. C.P.I. adjusted rent increase is set for January 2017 along with two, five-year options with increases. A portion of the front parcel has been subleased to Stuart’s Petroleum Company by the franchisee, whose Mobil Gas station drives additional traffic and business to Del Taco.
The subject property is located in the city of Bakersfield which is the 9th largest city in California and the 52nd largest city in the United States. The city is located in Kern County, the third largest county in California and the Bakersfield-Delano metropolitan statistical area is the 62nd largest metropolitan area in the states. The city of Bakersfield is home to a wide variety of businesses which supports a diverse economy even as the two primary industries are oil and agriculture. Kern County is the most productive oil county in America, with 10 percent of the nation’s domestic product and is a part of the highly productive San Joaquin Valley, ranks among the top five most productive agricultural counties in the states. The local trade area has over 71,000 employees in three miles and nearly 13,000 within one mile of the subject property. The population contains more than 103,000 residents within three miles whose average household incomes exceed $65,000 within one mile. Five miles surrounding the subject property are more than 322,000 residents as the population has increased by nearly fifteen percent since 2000.
Del Taco is located along California Avenue, a six-lane divided thoroughfare with designated turn lanes. California Avenue is a highly trafficked retail corridor which sees nearly 50,000 vehicles per day. The subject property is ideally positioned at a signalized intersection next to the southbound exit ramp off US-99, an extremely busy commuter highway that has over 150,000 vehicles per day. Bakersfield Plaza, a 365,000-square-foot power center anchored by Burlington Coat factory and Hobby Lobby is located two blocks west along California Avenue. Other notable retailers within a few blocks include McDonald’s, Chase Bank, Subway, Barns & Noble, Carls Jr., Verizon and Jack in the Box to name a few. Amongst the various retailers are eight national hotel brands within the proximity as well as Caroline Harris Elementary School.
This investment opportunity provides passive investors seeking income the ability to acquire a property leased to a strong franchise brand positioned in an established retail corridor with heavy traffic and multiple national hotel brands.
Investment Highlights
■ Absolute Triple-Net | No Landlord Responsibilities
■ Established Retail Corridor | Next to Bakersfield Plaza
■ California Avenue: 50,000 Cars| US-99: 150,000 Cars
■ 103,000 Residents and 71,000 Employees in Three Miles
■ 15 Percent Population Growth in Five Miles Since 2000
■ Bakersfield, CA | Ninth Largest City in California
■ Kern County | Most Productive Oil County in the States
5
PROPERTY DESCRIPTION
Del Taco (Absolute NNN)BAKERSFIELD, CA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
INVESTMENT OVERVIEW
6
PROPERTY DESCRIPTION
Del Taco (Absolute NNN)BAKERSFIELD, CA
The Offering
Property Del Taco (Absolute NNN)
Property Address 3624 California Avenue
Bakersfield, CA 93309
Assessor's Parcel Number 020-020-05
Zoning Commercial
Site Description
Number of Stories Single
Year Built 1998
Rentable Square Feet 2,164
Lot Size 0.91 +/- Acres
Type of Ownership Fee Simple
Parking Twenty-Five Parking Places
Landscaping Minimal
Topography Level
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
PROPERTY SUMMARY
7
PROPERTY DESCRIPTION
Del Taco (Absolute NNN)BAKERSFIELD, CA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
PROPERTY PHOTOS
Local Map Regional Map
8
PROPERTY DESCRIPTION
Del Taco (Absolute NNN)BAKERSFIELD, CA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
AREA MAPS
9
PROPERTY DESCRIPTION
Del Taco (Absolute NNN)BAKERSFIELD, CA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
LOCAL AERIAL
10
PROPERTY DESCRIPTION
Del Taco (Absolute NNN)BAKERSFIELD, CA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
RETAIL AERIAL
12
MARKET OVERVIEW
Del Taco (Absolute NNN)BAKERSFIELD, CA
Bakersfield-Delano Metro
Market Highlights
Central location
■ Expanding transportation network provides
convenient access to ports, major cities and
recreation areas.
Increasing employment quality
■ Office-using employment growth is accelerating,
and is expected to outpace the national growth rate
by 2015.
Low costs of living, doing business
■ Low home prices and a pro-business environment
attract employers and residents.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
Geography
The Bakersfield-Delano metro lies near the southern
end of the San Joaquin Valley in Kern County. The
county covers 8,161 square miles. The Kern River
flows through the region, which includes parts of
three mountain ranges: the Sierra Nevadas to the
east, the Tehachapis to the south, and the Tremblor
to the west. The City of Bakersfield, which is the
county seat, is located at the foot of the Greenhorn
Mountain Range.
BAKERSFIELD
13
MARKET OVERVIEW
Metro
The Bakersfield metro encompasses all of Kern County
in the southern portion of the San Joaquin Valley in
California and contains a population of more than
865,000 people. Bakersfield is the most populated city
in the county with 357,200 residents, followed by
Delano and Ridgecrest.
Del Taco (Absolute NNN)BAKERSFIELD, CA
Largest Cities in Metro by Population
Airports
■ Meadows Field Airport
■ Bakersfield Municipal Airport
Major Roadways
■ Interstate 5
■ U.S. Highway 395
■ State Routes 14, 58, 99, 178
Rail
■ Freight - Union Pacific, BNSF
■ Passenger - Amtrak
Bakersfield is:
■ 110 miles from Los Angeles
■ 110 miles from Fresno
■ 280 miles from San Francisco
■ 300 miles from Sacramento
Infrastructure
Three freeways bisect the metro. State Route 99 runs
north to south, state Route 58 heads southeast and state
Route 178 runs northeast. Future extensions are
planned for SR 58 and SR 178. Also, two beltways are
being considered for Bakersfield, as well as a station for
the proposed California High Speed Rail system.
Meadows Field Airport delivers commercial air flights
while the Bakersfield Municipal Airport offers charter
and executive aviation services.
The area is served by two class-1 railroads and Amtrak’s
San Joaquin line provides passenger rail between
Bakersfield and the San Francisco and Sacramento
areas. Amtrak also runs a bus connection service to the
Los Angeles area.
Public transit services in the county are offered through
Golden Empire Transit and Kern Regional Transit.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
Sources: Marcus & Millichap Research Services, Experian
BAKERSFIELD
Bakersfield 357,200
Delano 54,500
Ridgecrest 28,300
Wasco 26,100
Arvin 19,900
Rosamond 18,600
14
MARKET OVERVIEW
Del Taco (Absolute NNN)BAKERSFIELD, CA
Top Commodities Produced
Economy
The metro’s main industries are oil, natural gas and
agriculture. Kern County is one of the most oil
productive counties in the nation and the Elk Hills
field is the state’s top natural gas producer. Bakersfield
is also a part of the agriculturally intensive San Joaquin
Valley, and agriculture still constitutes a major portion
of the local economic base. Other industries include
mining, petroleum refining, manufacturing, food
processing, distribution, and aerospace. In addition,
many of the companies in these industries are
headquartered in the area.
Bakersfield’s relatively inexpensive land and
accessibility to the international ports in both Los
Angeles and Oakland, as well as transportation access
to the rest of country, are making the metro
particularly attractive to the manufacturing and
distribution sectors.
The metro also has a strong aviation, space, and
military presence with Edwards Air Force Base,
Halliburton, and the China Lake Naval Air Weapons
Station located within the county.
The area’s business-friendly policies, such as no local
inventory or utility taxes, and Bakersfield’s minimum
sales tax, are helping to attract companies to establish
offices in the region.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
BAKERSFIELD
Grapes
Almonds
Milk
Citrus
Pistachios
Cattle
Carrots
Alfalfa Hay
Cotton
Potatoes
15
MARKET OVERVIEW
Del Taco (Absolute NNN)BAKERSFIELD, CA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
Labor
After posting strong nonfarm employment growth at an average annual pace of 2.1 percent during the previous
five years, job growth in Bakersfield is now expected to expand at a more modest rate. Over the coming five years,
the metro is forecast to boost its current 248,000 jobs by an average of 0.7 percent annually.
The government sector dominates employment in the county, accounting for nearly one-fourth of all jobs. In
addition to city staffs, this sector encompasses the county’s three largest employers: Edwards Air Force Base, Kern
County and China Lakes Navel Weapons Center. The sector is poised to grow 0.4 percent annually through 2018.
The trade, transportation and utilities sector accounts for 19 percent of total employment, with the largest portion
of workers in retail trade. This segment has yet to regain many of the jobs lost during the recession and is currently
forecast to contract at an average annual pace of 0.5 percent in the coming five years. That said, Bakersfield’s
strategic position between Los Angeles and San Francisco will likely translate into a stronger transportation and
shipping industry in the future.
The fastest payroll expansion in the coming five years is forecast to be registered in the construction sector. A
return to homebuilding, as well as larger projects such as the cancer center addition at San Joaquin Community
Hospital, have both helped this sector regain many of the jobs lost during the recent recession. Over the next five
years, annual growth in this sector is expected to average 3.0 percent.
BAKERSFIELD
16
MARKET OVERVIEW
Del Taco (Absolute NNN)BAKERSFIELD, CA
Major Employers
Employers
Kern County’s employment base was founded on agriculture
and oil. Today, agricultural producers are still a major
component to the local economy, employing nearly 10,000
workers. Some of the bigger businesses include Giumarra
Companies, Grimmway Farms and Bolthouse Farms. The
large agriculture sector has attracted a growing list of food
production facilities including Frito Lay, Nestle’ Ice Cream,
and Sun Pacific to locate in the area.
Oil and gas production is in a boom cycle and alternative
energy companies are expanding. Local businesses include
Aera Energy, Chevron, Pacific Gas and Electric, Occidental
Petroleum Company, and Ensign United States Drilling.
Many of the area’s largest employers are in the education and
health services sector, which provides 29,000 local jobs. This
includes positions in the local school districts; the University
of California, Bakersfield; and area hospitals, such as
Bakersfield Memorial Hospital, Mercy Hospital, Kern
Medical Center, and San Joaquin Community Hospital.
In the less-populated far eastern portion of the county,
Edwards Air Force Base and the China Lake Naval Weapons
Center contribute approximately 15,000 jobs.
Due to its strategic location, the metro also serves as a
distribution hub for Target, IKEA, and Caterpillar among
others, many of which are located in the Tejon Ranch
Commerce Center.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
BAKERSFIELD
Edwards Air Force Base
Kern County
China Lake Naval Weapons Center
Giumarra Companies
Grimmway Farms
Wm. Bolthouse Farms, Inc.
Bakersfield Memorial Hospital
City of Bakersfield
Mercy Hospitals of Bakersfield
ARB, Inc.
17
MARKET OVERVIEW
Del Taco (Absolute NNN)BAKERSFIELD, CA
Demographics
The overall population shift to Sun Belt areas and the
comparatively lower cost of housing drives population
growth in Bakersfield. The population grew by almost
31 percent since 2000, although it is now expected to
slow to 1.4 percent growth annually through 2018.
This equates to nearly 60,400 new residents in the
coming five years.
Many people move to the area for jobs, as more than
55 percent of residents are in their working years, with
seniors comprising less than 10 percent of the
population. Young families are also attracted to the
more affordable cost of housing. As such, 33 percent of
the population is under 20 years old. This has lowered
the median age to 31 years, which is well below the
U.S. median of 37 years.
Although the median housing price in Kern County, at
roughly $185,200, is much more affordable than the
median in the L.A. basin, home prices are still out of
reach for many residents. The median household
income of $49,300 per year is below the national
median. Homeownership rates at approximately 58.0
percent are below the national rate of 64.1 percent.
Over the next five years, the rise in the median income
is forecast to remain level with the rise in Bakersfield’s
median home price.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
BAKERSFIELD
18
MARKET OVERVIEW
Del Taco (Absolute NNN)BAKERSFIELD, CA
Quality Of Life
Outdoor enthusiasts can always find something to do
near Bakersfield, whether it is white water rafting, jet
skiing, or kayaking in Kern River Canyon or downhill
and cross-country skiing in the mountains during the
winter. Just minutes away from the city are the Buena
Vista Aquatic Recreation Area, Lake Ming and the Kern
River. These areas also provide biking and hiking trails.
Those who like indoor sports may enjoy the Bakersfield
Ice Sports Center or the McMurtrey Aquatics Center.
Bakersfield is also home to the Bakersfield Blaze
(baseball), the Bakersfield Jam (basketball), and the
Bakersfield Condors (professional ice hockey) teams.
A variety of entertainment can be enjoyed at the
Rabobank Arena Theater & Convention Center, which
is home to the Bakersfield Symphony Orchestra and
Masterworks Chorale. The Buck Owens’ Crystal Palace
provides local dinner theatre and museums include the
Kern County Museum & Lori Brock Children’s
Discovery Center, California Living Museum,
Bakersfield Museum of Art and the Buena Vista
Museum of Natural History.
Among the institutions of higher learning are California
State University, Bakersfield; Bakersfield College; and
National University.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
The information contained in the market overview comes from sources deemed to be reliable, however, no representation, warranty or guarantee, express or implied, may be made as to the accuracy or reliability of the information contained herein. The most timely data available at time of production, including estimates and forecasts, were used and may be subject to revision.
BAKERSFIELD
1 Mile 3 Miles 5 Miles
2000 Population 10,370 97,963 281,913
2010 Population 10,087 103,154 314,380
2013 Population 10,314 105,425 322,306
2018 Population 10,279 105,818 331,827
2000 Households 4,003 36,207 95,415
2010 Households 3,872 36,739 103,475
2013 Households 3,982 37,779 106,590
2018 Households 3,977 38,382 111,097
2013 Average Household Size 2.54 2.75 2.99
2013 Daytime Population 12,683 71,981 133,141
2000 Median Housing Value $0 $99,661 $96,857
2000 Owner Occupied Housing Units 50.07% 44.46% 52.62%
2000 Renter Occupied Housing Units 44.85% 47.84% 40.76%
2000 Vacant 5.12% 7.23% 6.57%
2013 Owner Occupied Housing Units 44.48% 40.29% 48.40%
2013 Renter Occupied Housing Units 55.52% 59.71% 51.60%
2013 Vacant 6.92% 7.89% 6.85%
2018 Owner Occupied Housing Units 44.07% 39.89% 48.32%
2018 Renter Occupied Housing Units 55.93% 60.11% 51.68%
2018 Vacant 7.20% 7.96% 6.88%
$ 0 - $14,999 14.7% 19.0% 15.6%
$ 15,000 - $24,999 14.2% 15.4% 12.9%
$ 25,000 - $34,999 10.3% 12.0% 11.0%
$ 35,000 - $49,999 15.9% 15.5% 15.1%
$ 50,000 - $74,999 17.3% 17.2% 18.4%
$ 75,000 - $99,999 12.1% 8.9% 11.2%
$100,000 - $124,999 5.3% 5.1% 7.0%
$125,000 - $149,999 3.1% 2.6% 3.6%
$150,000 - $199,999 4.2% 2.0% 2.6%
$200,000 - $249,999 1.2% 1.0% 1.1%
$250,000 + 1.8% 1.4% 1.6%
2013 Median Household Income $44,277 $38,461 $44,726
2013 Per Capita Income $25,426 $20,158 $20,956
2013 Average Household Income $65,087 $55,433 $62,738
Demographic data © 2012 by Experian.
20
DEMOGRAPHIC ANALYSIS
Del Taco (Absolute NNN)BAKERSFIELD, CA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
DEMOGRAPHIC REPORT
Geography: 5 miles
Population
In 2013, the population in your selected geography was 322,306. The population has changed by 14.32% since 2000. It is estimated
that the population in your area will be 331,827 five years from now, which represents a change of 2.95% from the current year. The
current population is 49.0% male and 50.9% female. The median age of the population in your area is 30.4, compare this to the U.S.
average which is 37. The population density in your area is 3,481.55 people per square mile.
Households
There are currently 106,590 households in your selected geography. The number of households has changed by 11.71% since 2000.
It is estimated that the number of households in your area will be 111,097 five years from now, which represents a change of 4.22%
from the current year. The average household size in your area is 2.99 persons.
Income
In 2013, the median household income for your selected geography is $44,726, compare this to the U.S. average which is currently
$53,535. The median household income for your area has changed by 24.07% since 2000. It is estimated that the median household
income in your area will be $50,536 five years from now, which represents a change of 12.99% from the current year.
The current year per capita income in your area is $20,956, compare this to the U.S. average, which is $28,888. The current year
average household income in your area is $62,738, compare this to the U.S. average which is $75,373.
Race & Ethnicity
The current year racial makeup of your selected area is as follows: 58.35% White, 7.81% African American, 1.79% Native American
and 3.60% Asian/Pacific Islander. Compare these to U.S. averages which are: 72.20% White, 12.65% African American, 0.96%
Native American and 5.01% Asian/Pacific Islander.
People of Hispanic origin are counted independently of race. People of Hispanic origin make up 49.28% of the current year
population in your selected area. Compare this to the U.S. average of 16.55%.
Housing
The median housing value in your area was $96,857 in 2000, compare this to the U.S. average of $110,781 for the same year. In
2000, there were 53,741 owner occupied housing units in your area and there were 41,622 renter occupied housing units in your
area. The median rent at the time was $453.
Employment
In 2013, there are 133,141 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed
that 54.2% of employees are employed in white-collar occupations in this geography, and 45.7% are employed in blue-collar
occupations. In 2013, unemployment in this area is 10.24%. In 2000, the median time traveled to work was 18.1 minutes.
Demographic data © 2012 by Experian.
21
DEMOGRAPHIC ANALYSIS
Del Taco (Absolute NNN)BAKERSFIELD, CA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
SUMMARY REPORT
Number of people living in a given area per square mile.
Demographic data © 2012 by Experian.
22
DEMOGRAPHIC ANALYSIS
Del Taco (Absolute NNN)BAKERSFIELD, CA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
POPULATION DENSITY
The number of people employed in a given area per square mile.
Demographic data © 2012 by Experian.
23
DEMOGRAPHIC ANALYSIS
Del Taco (Absolute NNN)BAKERSFIELD, CA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
EMPLOYMENT DENSITY
Average income of all the people 15 years and older occupying a
single housing unit.
Demographic data © 2012 by Experian.
24
DEMOGRAPHIC ANALYSIS
Del Taco (Absolute NNN)BAKERSFIELD, CA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2014 V0360172 Marcus &Millichap. All rights reserved.
AVERAGE HOUSEHOLD INCOME
BAKERSFIELD, CA
OFFERING MEMORANDUM
Del Taco (Absolute NNN)
Offices Throughout the U.S. and Canada
www.MarcusMillichap.com
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