REPRESENTATIVE PHOTO

SEC NILES ST & STERLING RD | BAKERSFIELD, CA

$2,256,410 | 5.85% CAP

3

6

7

BAKERSFIELD, CALIFORNIA

8

7636 N Ingram Avenue, Suite 103Fresno, CA 93711

CA Broker License 02047928visintainergroup.com

BRETT VISINTAINER, CCIMCommercial Investment AdvisorPrincipal, Visintainer Group

bre�@visintainergroup.com559.890.0320 OFFICE559.916.0370 MOBILECA Agent License 01792092

JOHN KOURAFASCommercial Investment AdvisorVisintainer Group

john@visintainergroup.com559.890.0419 OFFICE559.259.0254 MOBILECA Agent License 02089371

EXECUTIVE SUMMARYInvestment HighlightsInvestment SummaryProperty Descrip�on

TENANT INFORMATIONRent RollTenant Profiles

LOCATION MAPArea Map

AREA OVERVIEWDemographicsCity Overview

NICK FRECHOUSenior Vice PresidentRetail California

nick@retailcalifornia.com559.447.6266 OFFICE559.999.3712 MOBILECA Agent License 01887999

7480 N Palm Avenue, Suite 101Fresno, CA 93711retailcalifornia.com

INVESTMENT SUMMARY

CAP RATE5.85%

PRICE PSF$1,188

$2,256,410TERMS

ICE HOUSE AMERICA WATER KIOSK FRANCHISEEIS ONE OF LARGEST IN COMPANY

There are over 3,000 locations in multiple countries, whilethis Franchisee has 31 operating today with 15 more in process.

LONG-TERM LEASE WITH INCREASESYoshinoya and Ice House America Water Kiosk signed new

10-year leases with 10% every 5 years.

YOSHINOYA HAS LARGE PRESENCE WORLDWIDEYoshinoya has over 3,000 locations worldwide,

with 107 in California and growing.

BRAND NEW CONSTRUCTIONYoshinoya is set to open December 2019 at this location.

Ice House America Water Kiosk Opens September 1, 2019.

NOI$132,000*

HIGH VISIBILITYHigh traffic counts along Niles Street with over 34,000 VPD.

SF1,800 Building

100 Water Kiosk

*Yoshinoya $120,000 & Ice House America Water Kiosk $12,000

1,800 SF

DRIVE THRU

100 SF

NILES STREET (29,411 VPD)

STER

LIN

G D

RIVE

(4,9

79 V

PD)

PROPERTY DESCRIPTION

ADDRESSSEC of Niles Street & Sterling Road

Bakersfield, CA 93306

APN135-202-04 and 135-202-05

TENANTSYoshinoya and Ice House America Water Kiosk

TOTAL BUILDING AREA1,800 SF Building and 100 SF Water Kiosk

LEASE TERM10 Years

LEASE COMMENCEMENTYoshinoya - Dec. 2019

Ice House America - Sept. 1, 2019

LEASE EXPIRATIONYoshinoya - 10 Years from Lease Commencement

Ice House America - Aug. 31, 2029

LANDLORD RESPONSIBILITIESNone

TENANT RESPONSIBILITIESProperty Taxes, Insurance, U�li�es,

Roof, HVAC, Structure, CAM

YEAR BUILT2019

REPRESENTATIVE PHOTO

RENT ROLL

YEAR ANNUAL MONTHLY

ICE HOUSE AMERICA

MO. PSF

1-5

6-10

11-15 (Option 1)

16-20 (Option 2)

21-25 (Option 3)

26-30 (Option 4)

$10,000

$11,000

$12,100

$13,310

$14,641

$16,105

$120,000

$132,000

$145,200

$159,720

$175,692

$193,261

$5.56

$6.11

$6.72

$7.39

$8.13

$8.95

YEAR ANNUAL MONTHLY MO. PSF

1-5

6-10

11-15 (Option 1)

16-20 (Option 2)

$1,000

$1,100

FMV

FMV

$12,000

$13,200

$10.00

$11.00

icehouseamerica.com

Ice House America has over 3,000 locations across the USA, Brazil, DominicanRepublic and other countries. IHA is the largest manufacturer and owner/operatorof ice vending machines in the world. They’ve produced 3,500+ ice vendingmachines and these collectively produce more than 1 billion pounds of high qualityice each year.

The tenant is a franchisee of Ice House America; they are one of the largestfranchisees with 31 water kiosks operating today and 15 more in process. Theyhave been operating machines in the Bakersfield area for over 6 years and havebeen running ice and water kiosks for over 15 in other parts of the country.

ICE HOUSE AMERICA

YOSHINOYA yoshinoyaamerica.com

The first Yoshinoya restaurant was founded in Tokyo, Japan in 1899 and in 1979the brand expanded globally to the United States. Japanese-inspired cooking is theessence of their menu, featuring a wide array of rice bowls from their signatureGyūdon Beef Bowl® to grilled steak and teriyaki chicken.

Today, there are more than 3,000 Yoshinoya locations worldwide, serving morethan 500,000 delicious bowls daily. Their annual sales is approximately $1.7 billion. They have seen positive sales growth in the U.S. since 2013, achieving 7.3%growth in 2017. There are currently 107 locations in California with expansionplans of adding 7 more in the next 12 months and then 15 per year after that.Additionally, there are plans to add 12-15 locations in Arizona over the next fewyears.

SUBJECT PROPERTY

NILES STREET (29,411 VPD)

STER

LIN

G RO

AD (4

,979

VPD

)

1 MILE

DEMOGRAPHICS THREE MILE RADIUS FROM SUBJECT PROPERTY

TOTAL POPULATION

2019

2024 Projection

Annual Growth Rate

22,127

22,724

0.53%

42,809

44,182

0.63%

48,922

50,392

0.59%

HOUSEHOLDS (HH)

2019

2024 Projection

Annual Growth Rate

5,860

5,982

0.41%

12,507

12,859

0.56%

13,711

14,043

0.48%

MEDIAN AGE

2019

2024 Projection

28.4

29.6

29.0

30.1

28.1

28.7

AVERAGE HH INCOME

2019

2024 Projection

$61,082

$71,149

$53,454

$62,283

$54,048

$63,367

2 MILES 3 MILES

1 MILE 2 MILES 3 MILES

1 MILE 2 MILES 3 MILES

1 MILE 2 MILES 3 MILES

BAKERSFIELD | CALIFORNIA

Bakersfield is the 9th largest city in California with a population of 383,579

One of the fastest growing regions in the nation

Agriculture, manufacturing, petroleum extraction and refining

are the primary drivers for Bakersfield's economy

Generates 76 percent of the California’s oil supply

Richest and most productive agricultural county in the world,

grossing over $7 billion (2017)

Southern gateway to the Central Valley, nestled in Kern County

Equidistant between Fresno and Los Angeles - 110 miles to the

north and south respectively

Home to California State University, Bakersfield

Major employers include: ARB Inc., Bakersfield Memorial Hospital,

Bolthouse Farms, County of Kern, Grimmway Farms,

Giumarra Farms, Mercy Hospitals of Bakersfield, Sun World

Any information provided with this Offering Memorandum shall be considered strictly confidential at all times. As an express conditionof you receiving and reviewing this Offering Memorandum you agree to treat its contents confidential and to ensure that anyone youprovide this information, in whole or in part, agrees to keep the contents strictly confidential as well. We reserve the right to issueyou a recall notice, in which case you agree to return this information to us and to recover and transmit any copies you have furnishedto other parties, including prospective purchasers.

You also understand that the information in this Offering Memorandum is being provided in good faith and largely using informationprovided by our client or public resources, and that in no way do we verify or guarantee the ultimate accuracy of informationcontained herein, including without limitation: values of properties; square footage; zoning or land use; actual versus projected NOIfigures; the strength or intentions of any tenant; any condition of title; area tenants or tenant mixes; comparable sales; land bordersor boundaries; the existence or absence of any hazardous materials or substances; the topography or suitability of land for constructionor expansion; and/or the coverage, duties or limitations imposed by any CC&Rs, DDAs, REAs or otherwise.

You and your client’s due diligence (once in escrow) is the opportunity you have to complete a final verification of any informationyou determine is necessary for vetting the property or properties and you may not rely on information in this Offering Memorandum.

You also understand that this Offering Memorandum contains abbreviated or summary versions of key facts or data and are notintended to be comprehensive or all-inclusive list of information. No warranty or representation, expressed or implied, is made bythe owner, the agent, the broker of record or our company as to the accuracy of the information contained herein or any otherwritten or oral communications.

We expressly disclaim any liability connected with the information or other communications made in the course of listing, negotiating,escrow, closing or post-closing.

This Offering Memorandum is subject to modification, rescission, termination or withdrawal, with or without notice. It is not deemedto be an offer to sell any property. The property owner or owners shall have no legal commitment or obligation to any interestedparty reviewing this Offering Memorandum to accept an offer or respond to an offer.

DISCLAIMER AND DISCLOSURE AGREEMENT

7636 N Ingram AvenueSuite 103Fresno, CA 93711

visintainergroup.com

7480 N Palm AvenueSuite 101Fresno, CA 93711

retailcalifornia.com