Investment Offering
Bakersfield, CA - United Rentals
2113 Taft Hwy | Bakersfield, CA 93313
$3,900,000
Price6.95%
Cap Rate$271,219
NOI12,000
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NN leased, United Rentals investment property located in Bakersfield, California. The tenant, United Rentals Realty, LLC has 4 years remaining on the initial lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2.5% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. United Rentals, Inc. is the largest equipment rental company in the world. The company has an integrated network of 1,465 rental locations in North America, 14 in Europe, 27 in Australia and 19 in New Zealand. In North America, the company operates in 49 states and every Canadian province.
Location
The United Rentals is located near the signalized, hard corner intersection of Taft Highway and Compagnoni Street with a combined (57,000 VPD). The site benefits from nearby direct on/off ramp access to State Hwy 99, a major thoroughfare averaging over 71,000 vehicles per day. The subject property is located directly next to a Jack in the Box providing consumer traffic to the area. Other nearby national/credit tenants include Starbucks, AM/PM, Taco Bell, Subway, Mobile, Chevron, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by more than 154,000 residents and 31,000 employees, providing a direct consumer base from which to draw. Residents within a 1-mile radius of the subject property have an average household income of $95,916.
Documents & Links
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 Offering Memorandum |  |  |