115 kentucky Presentation1 - LoopNet · 2018. 8. 22. · Lease Type Modified Gross Industrial...
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Demetrius Cooper DRE #01974439 661-564-1346 [email protected] www.deemeetree.us Property Highlights • 100% Occupied • 13 Years Remain on Lease • Scheduled Rent Increases • Tax Incentive Zoning Location 115 Kentucky Street Bakersfield, California 93305 Asking Price $1,250,000 | $91/SF Building | Lot Size 13,760 SF | 101,158 SF Tenant CED Greentech Inc. Cap Rate 6.4% Gross Income $90,000 Lease Type Modified Gross For Sale Industrial Opportunity
Transcript of 115 kentucky Presentation1 - LoopNet · 2018. 8. 22. · Lease Type Modified Gross Industrial...
Demetrius CooperDRE #01974439661-564-1346dcooper@PortfolioProperties.comwww.deemeetree.us
Property Highlights
• 100% Occupied• 13 Years Remain on Lease • Scheduled Rent Increases• Tax Incentive Zoning
Location 115 Kentucky Street Bakersfield, California 93305
Asking Price $1,250,000 | $91/SF
Building | Lot Size 13,760 SF | 101,158 SF
Tenant CED Greentech Inc.
Cap Rate 6.4%
Gross Income $90,000
Lease Type Modified Gross
For SaleIndustrial Opportunity
PROPERTY DETAILS
115 Kentucky Street Bakersfield, Ca. 93305
• (3) Loading Docks• (5) Bay Doors• (3) Wide Driveways• New Asphalt Lot• Office Cubicles (7 desks)• 2 Bathrooms + 1 Shower• Air, Water, & Power at
Workstations• Phase 3 Power 600a, 480v• ESFR Sprinklers
Built in 1959, thisLight Industrial building is Zoned M1 and has ample space to add a crane or even an additional building on the lot to generate income.
LOCATION MAPKentucky Industrial115 Kentucky Street | Bakersfield, Ca 93305
Dr. Mary Sawyer, CCIMBroker, [email protected]
Demetrius CooperCommercial [email protected]
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115 Kentucky Street Bakersfield, Ca. 93305
The property is located in Bakersfield’s Economic Opportunity Zone, a program to incentivize Investment by offering capital gains tax deferral and exclusion; depending on holding periods.
LOCATION DETAILS
115 Kentucky Street Bakersfield, Ca. 93305
DEMOGRAPHICSKentucky Industrial115 Kentucky Street | Bakersfield, Ca 93305
Dr. Mary Sawyer, CCIMBroker, [email protected]
Demetrius CooperCommercial [email protected]
Population Characteristic 1 Mile 3 Mile 5 MileAges 0-4 1,200 13,063 26,299Ages 5-9 1,347 14,852 29,933Ages 10-14 1,155 12,779 25,871Ages 15-19 1,030 11,698 23,901Ages 20-24 1,010 11,298 23,225Ages 25-29 974 10,577 21,998Ages 30-34 914 9,557 19,927Ages 35-39 861 8,775 18,182Ages 40-44 814 8,178 17,001Ages 45-49 786 7,842 16,453Ages 50-54 656 6,877 14,838Ages 55-59 564 5,899 13,115Ages 60-64 452 4,703 10,861Ages 65-69 331 3,515 8,376Ages 70-74 209 2,482 6,169Ages 75-79 133 1,631 4,224Ages 80-84 69 1,078 2,696
Household Income 1 Mile 3 Mile 5 MileMedian Household Income $26,944 $32,947 $37,806< $10000 591 4,852 8,372$10000-$14999 264 4,520 8,394$15000-$19999 568 3,528 7,141$20000-$24999 189 3,420 7,236$25000-$29999 294 2,946 6,435$30000-$34999 355 2,665 5,725$35000-$39999 214 2,605 5,019$40000-$44999 326 2,708 5,483$45000-$49999 188 1,491 3,700$50000-$60000 217 3,146 7,607$60000-$74000 279 2,940 8,086$75000-$99999 371 3,720 8,912$100000-$124999 51 1,624 4,308$125000-$149999 21 677 1,938$150000-$199999 47 517 1,628> $200000 N/A 367 1,004
Race Characteristic 1 Mile 3 Mile 5 MileNon Hispanic White 6,465 68,354 154,364Population Black 801 9,713 19,950Population Am In/AK Nat 133 1,494 2,738
Characteristic Housing 1 Mile 3 MileHousing Units 4,749 48,597Occupied Housing Units 4,164 43,351Owner Occupied Housing Units 1,213 17,640Renter Occupied Housing Units 2,951 25,711Vacant Housing Units 585 5,246
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DEMOGRAPHICS
FINANCIAL SUMMARYKentucky Industrial115 Kentucky Street | Bakersfield, Ca 93305
Dr. Mary Sawyer, CCIMBroker, [email protected]
Demetrius CooperCommercial [email protected]
Asking Price $1,250,000 Cap Rate 6.42%115 Kentucky Street | Bakersfield, Ca 93305
Net Operating Income $80,196$7,500Rent/Month13,760Rentable Square Feet
101,158 sfLand AreaTenant Name CED Greentech Inc.
www.cedcareers.comWeb Site
Fee SimpleOwnership TypeLease Term 12 yearsRent Commencement 07/01/2016Lease Expiration Date 06/30/2031
Two (2), Five (5) yearOptions
INVESTMENT HIGHLIGHTS❖ Located Near California's Biggest Logistics Routes
Highway 99 and I-5
❖ 13 Years Remaining on Lease With ScheduledIncreases
❖ Below Market Rents
❖ Strong Local Demand from Distribution andEcommerce Companies
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Demetrius CooperDRE #01974439661-564-1346dcooper@PortfolioProperties.comwww.deemeetree.us
Net Operating Income $80,196
Rent/Month $7,500
Rentable Square Feet 13,760
Land Area 101,158 SF
Tenant CED Greentech Inc.www.cedcareers.com
Ownership Type Fee Simple
Lease Term 15 Years
Rent Commencement 07/01/2016
Lease Expiration Date 06/30/2031
Options Three (3), Five (5) Year
Capitalization Rate 6.42%
Gross Income / Square Feet $6.54
Gross Expenses / Square Feet ($0.71)
Operating Expense Ratio 10.89%
Gross Operating Income $90,000
Monthly GOI $7,500
Total Annual Expenses ($9,804)
Monthly Expenses ($817)
FINANCIAL DETAILS
