Description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the single-tenant Home Depot located at 4001 Ming Avenue, Bakersfield, CA (the "Property" or "Asset"). The Home Depot is operating on a ground lease with 5+ years of primary lease term remaining, featuring 10% rental escalations every 5 years and four, five-year renewal options.

This offering presents investors with a rare opportunity to acquire a long-term ground lease backed by investment-grade tenancy, positioned within an irreplaceable commercial corridor.

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Attributes

Asking price

$13,990,000

NOI

$809,000

Cap rate

5.8%

Lease type

Absolute Triple Net

Remaining lease term

5.4 years

Building area gross

123,781 sf

Occupancy

100%

Year built

2007

Land area gross

6.86 acres

Media

Investment highlights

Investment grade tenancy S&P: A
±5.4 Years of primary lease term remaining
Adjacent to Valley Plaza, A Top 1% Shopping Center in the U.S.
Absolute NNN ground lease with zero landlord responsibilities
Below market rent
19+ YRS Long term operating history
$164.7B Home Depot FY2025 revenue
337K Residents within a five-mile radius
Dense residential area with 50,000+ households within a three-mile radius
Along Ming Ave with direct access to SR-99 providing accessibility to 208,000+ VPD