Listed by Colliers - Bakersfield, California
$4,683,000
Ross Dress For Less at Mission Plaza Shopping Center
Details
Property Type Retail
Sub Type Storefront
Square Footage 31,608
Cap Rate 6.75%
NOI $316,080
Occupancy 100%
Tenancy Single
Brand/Tenant Ross Dress for Less
Lease Type NN+
Lease Expiration 01/29/2029
Rent Bumps Yes
Lease Options 1 5-yr option
Year Built 1993
Acreage 2.920
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 10/20/2002
Retail | 6.75% CAP | 31,608 SqFt
Investment highlights
Strong Corporate National Tenant | Rare Single Tenant End Cap
- Ross Dress for Less has a 22-year successful presence at this location.
- Corporate-guaranteed lease backed by Ross Stores, Inc., an S&P 500, Fortune 500, and Nasdaq-100 company.
- Strong credit ratings: "BBB+" (S&P) and "A2" (Moody's).
- Largest off-price fashion retailer in the U.S. with 1,847 locations nationwide.
- Reported 2024 revenue of $21.1 billion.
NN | Limited Landlord Responsibilities
- Corporate guaranteed net lease with limited landlord obligations.
- Tenant covers utilities, taxes, and insurance.
- Landlord responsible for Common Area Maintenance (CAM) with reimbursement, plus roof, structure, HVAC, and parking lot.
- Rare $1 per square foot fixed rental increases in option periods provide a hedge against inflation.
Strong Market and Demographics | Central Location Near Employers, Retailers, and Community Hubs
- Located in Mission Plaza Shopping Center, Lompoc's busiest retail center.
- Positioned at a high-traffic signalized intersection with 44,000 ADT.
- Surrounded by major national retailers: Albertsons, Starbucks, Taco Bell, Circle K, Chase Bank, Walmart Supercenter, McDonald's, 7-Eleven, and more.
Listing Contacts
Listed by Colliers - Bakersfield, California
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$316,080.00
$26,340.00/mo
Valuation Metrics
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DSCR
6.75%
Cap Rate
6.75%
ROI
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