1661 Union Ave - Auto Repair FOR SALE


Bakersfield, CA 93305- Downtown Bakersfield | 
$1,250,000 USD
916-600-0330
1661 Union Ave, Bakersfield, CA for Sale
$1,250,000 USD
Auto Repair - FOR SALE
1/11
null | 5.12% Cap Rate

1661 Union Ave
Bakersfield, CA 93305
Downtown Bakersfield


HIGHLIGHTS

  • Credit-Backed Operator Occupied by Auto Glass Now, the second-largest auto glass operator in the U.S. and a subsidiary of Driven Brands (NASDAQ: DRVN)
  • Hard-Corner Arterial Location Signalized frontage on Union Avenue (SR-204) at 17th Street, ±30,000 cars per day, one block north of the Truxtun Avenue
  • Built-In NOI Growth A 10% rent increase on October 1, 2027 raises annual rent from $64,020 to $70,428 — a 5.63% cap rate on the current offering price
  • Long-Term Control Two (2) five-year renewal options extend potential occupancy through 2039, with option rent set at fair market value.
  • Passive Ownership Tenant reimburses real estate taxes and insurance and is responsible for utilities, interior maintenance and HVAC. Roof and parking
  • Infill Density 134,800 residents and 42,500 households within three miles, adjacent to downtown Bakersfield, the convention center and Amtrak station.

OVERVIEW

Ethan Conrad Properties is pleased to present the opportunity to acquire a 100% fee-simple interest in 1661 Union Avenue — a 5,820 SF freestanding automotive service building on a 0.27-acre hard-corner parcel in Bakersfield, California, net-leased to Auto Glass Now. The tenant, AGN Glass, LLC (dba Auto Glass Now), is a subsidiary of Driven Brands Holdings Inc. (NASDAQ: DRVN) — an automotive-services platform with more than 4,300 locations across North America. Auto Glass Now is the second-largest auto glass operator in the United States. The property fronts Union Avenue (State Route 204), one of Bakersfield's primary north-south arterials, carrying approximately 30,000 cars per day, immediately north of the Truxtun Avenue / SR-178 interchange and roughly one mile east of downtown Bakersfield and Highway 99. The lease runs through September 30, 2029 with two (2) five-year renewal options, and carries a 10% rent increase on October 1, 2027 that lifts annual rent to $70,428.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$215 USD /SF

CAP RATE

5.12%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

undefined, Freestanding, Service

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1977

SPRINKLERS

-

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

C-2

APN/PARCEL ID

006-132-07-00-5

ASK ABOUT THIS PROPERTY

Race MerrittEthan Conrad PropertiesMore Info
916-600-0330

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Race MerrittEthan Conrad PropertiesMore Info
916-600-0330

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.