Citibank

2525 Oswell Street, Bakersfield, CA 93306
$3,400,000
Status Sold
Price $3,400,000
Cap Rate 5.23%
Price/SF $639
NOI $177,949
Lease Type Absolute NNN
Lease Term 10 Years
Lease Start January 2014
Lease Expiration January 2024
Building Size 5,318 SF
Lot Size 35337 AC

Overview

The property benefits from a highly-visible, hard corner location at the intersection of Bernard Street and Oswell Street, an intersection trafficked by more than 31,000 vehicles per day.  The branch is centrally located within a dense retail trade area that features notable national tenants including Walmart, Home Depot, Office Max, and 24 Hour Fitness.

This branch has prominent pylon signage, 20 parking spaces, and a canopied drive-thru ATM for customer convenience.  The building is located within an affluent neighborhood. The average population and average household income within a 1-mile radius are 15,000 and $75,000, respectively. The branch deposits for this location were $90 million.