Citibank

5554 California Avenue, Bakersfield, CA 93309
$3,925,000
Status Sold
Price $3,925,000
Cap Rate 5.24%
Price/SF $499
NOI $205,685
Lease Type Absolute NNN
Lease Term 10 Years
Lease Start January 2014
Lease Expiration January 2024
Building Size 7,868 SF
Lot Size 36112 AC

Overview

This site benefits from a highly visible and easily accessible location along California Avenue, which is trafficked by nearly 37,000 vehicles per day. The property is adjacent to numerous national retailers including Vons, Office Depot, Bed Bath & Beyond, and HomeGoods. This location is less than one half mile from Santa Barbara Business College.

Within a 3-mile radius, the surrounding area is home to nearly 100,000 people with an average household income that exceeds $63,000, respectively. This branch had substantial deposits of over $111 million, a testament to the long-term success at this location.