Listed by ASU Commercial, Hanley Investment Group
$17,040,000
Valley Village | Bakersfield, CA
Details
Property Type Retail
Sub Type Storefront, Shopping Center
Square Footage 83,998
Net Rentable (SqFt) 83,998
Cap Rate 7.00%
NOI $1,192,827
Occupancy 87%
Tenancy Multi
Brand/Tenant TJ Maxx
Lease Type NNN
Year Built 1982
Acreage 7.190
Ground Lease No
Long-Term Historical Occupancy | Highway 99 Adjacent (156,500 CPD)
Marketing description
CLICK HERE FOR FULL OFFERING MEMORANDUM: https://bit.ly/ValleyVillageCA
Investment highlights
- 87% Occupied, 83,988-Square-Foot Neighborhood Shopping Center with High-Quality National Anchors; Long-Term Historical Occupancy: Valley Village is anchored by T.J. Maxx, Guitar Center, and O’Reilly Auto Parts, which make up 60% of the occupied square footage
- T.J. Maxx (NYSE: TJX; S&P; A; Investment Grade):
- Successfully operated at the center since 1990 (35+ years); #76 Fortune 500 ‒ Fortune (2026)
- Strong performing store (contact listing agents for further details)
- TJX Companies, Inc. is the leading off-price apparel and home fashion retailer in the U.S. operating 5,200 stores in 9 countries
- Guitar Center (Top 2% Nationwide; Top 8% in California - Placer.ai):
- Successfully operated at the center since 2001 (26 years)
- Guitar Center is the largest musical instrument retailer in the United States, specializing in the sale of guitars, drums, keyboards, pro audio equipment, recording gear, and related accessories; 300+ locations
- O’Reilly Auto Parts (NASDAQ: ORLY):
- Successfully operated at the center since 1982 (44 years)
- O’Reilly operates 6,500+ locations across the United States, Mexico, Canada, and Puerto Rico and is both a Fortune 500 and S&P 500-listed company
- T.J. Maxx (NYSE: TJX; S&P; A; Investment Grade):
- Value-Add Opportunity: The asking price at a 7.00% cap rate is based entirely on in-place income. Zero credit has been given for the 10,900 SF of vacant spaces (Suites 3658 and 3686) located within the multi-tenant pad along Ming Avenue
- Lease-Up of Multi-Tenant Pad Vacant Spaces: At market rents of approximately $24.00/SF NNN, 100% lease-up represents a total potential Net Operating Income (NOI) increase of approximately 24.5% above the already-attractive going-in yield
- QSR Drive-Thru Pad Redevelopment: An alternative to leasing the vacant spaces, the property also presents a pad redevelopment potential. Contact listing agents for further details.
- Strategically Located Along Ming Avenue, One of Bakersfield’s Primary Retail Corridors: The subject property benefits from exceptional visibility and accessibility, with average daily traffic counts of approximately 48,000 cars per day at the signalized intersection of Ming Avenue and Real Road
- Immediately Adjacent to Highway 99: The property is directly adjacent to the Ming Avenue on/off ramp to Highway 99, which carries average daily traffic counts of 156,500 cars per day.
- Proximity to Dominant Retail Hub: Located near Valley Plaza Mall, Bakersfield’s premier regional mall, and largest enclosed shopping center with anchor tenants that include Target, J.C. Penney, Macy’s, and Furniture Land. Surrounding national tenants include Marshall’s, Burlington, Michaels, The Home Depot, Ross Dress for Less, dd’s Discounts, FoodMaxx, PetSmart, Dollar Tree, and more
- Dense and Growing Trade Area: There are over 338,000 residents within a 5-mile radius; 10.44% population growth within a 5-mile radius from 2010 to 2020
Listing Contacts
Listed by ASU Commercial, Hanley Investment Group
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$1,192,827.00
$99,402.25/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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