NNN-Leased Signalized-Corner
For Sale
Contact for pricing
5301 Olive Dr, Bakersfield, CA 93308
Existing NNN lease includes a five-year extension option and annual increases.
Property SizeContact for details
Days on Market143
Property Features for 5301 Olive Dr
General Information
Standard status
Active
Property subtype
Retail
Site & Location
Corner Location
Yes
Traffic Count
53,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
7.3%
Building Details
Tenancy
Single
Listing Agency:
Commercial Real Estate Investments
(310) 826-8200
Listed By:
Karl Niehaus · License #CA 01450751
Source:
Crexi
Added: Apr 12
Changed: Aug 31
Last Checked: Aug 31 at 5:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Commercial Real Estate Investments
Investment Insights
Based on property information with market context.
This NNN property at 5301 Olive Dr in Bakersfield is leased to Smoke Zone, which has occupied the site since January 2022. The current lease runs through the end of March 2027 and includes one additional five-year extension option. Contractual rent increases of 3% began on 4/1/24, producing a current cap rate of 7.3% and a stated cap rate of 7.5% after the increase.
The property occupies a signalized corner with reported traffic of 53k cars/day. It is 1 block from a 99 Freeway on- and off-ramp, where traffic is reported at 124k cars/day, and sits near the interchange of the 99, 178, and 204 Freeways. San Lauren Elementary School is 1 block north, Good Samaritan Hospital is 1 mile west, and national tenants surround the property.
The property occupies a signalized corner with reported traffic of 53k cars/day. It is 1 block from a 99 Freeway on- and off-ramp, where traffic is reported at 124k cars/day, and sits near the interchange of the 99, 178, and 204 Freeways. San Lauren Elementary School is 1 block north, Good Samaritan Hospital is 1 mile west, and national tenants surround the property.
Key Highlights
- NNN lease to Smoke Zone in place since January 2022
- Lease expires at the end of March 2027 with one extension option for an additional 5 years
- Current cap rate of 7.3%; stated cap rate of 7.5% after 3% increases on 4/1/24
Property Analytics
Property Profile
Current Use
Lease Details
53,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
171k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Dining 40%
Apparel 13%
Hotels & Casinos 2%
McDonald's
Dining
22,867 visits/mo
0.1 miles
Ross Dress for Less
Apparel
22,030 visits/mo
0.1 miles
Mister Car Wash
Shops & Services
19,901 visits/mo
0.1 miles
Dollar Tree
Shops & Services
15,163 visits/mo
0.1 miles
Starbucks
Dining
14,402 visits/mo
0.1 miles
Demographics for 93308, CA
56,037
Population
21,443
Households
2.6
Avg Household Size
35
Median Age
18%
College-Educated
84%
High-School Grad
344.6 sq mi
ZIP Area
163
Density / Sq Mi
$59,511
Median Household Income
$39,676
Median Earnings
$1,260
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Retail in Bakersfield, CA
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Frequently Asked Questions
What type of property is this?
NNN property - Existing NNN lease includes a five-year extension option and annual increases.
Where is this nnn property located?
The property is located at 5301 Olive Dr Bakersfield, CA.
What are key features of this property?
This property features: NNN lease to Smoke Zone in place since January 2022; Lease expires at the end of March 2027 with one extension option for an additional 5 years; Current cap rate of 7.3%; stated cap rate of 7.5% after 3% increases on 4/1/24
