HARBOR FREIGHT OFFERING MEMORANDUM - LoopNet
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OFFERING MEMORANDUM
HARBOR FREIGHT
4100 White Ln, Bakersfield, CA
Exclusively Offered By:
Anthony Olivieri, CCIM, CRX Olivieri Commercial Group
Lic. 01325989 9810 Brimhall Road
661.617.1850 Bakersfield, CA 93312
anthony@oliviericommercial.com www.oliviericommercial.com
INVESTMENT OVERVIEW & HIGHLIGHTS
• Seasoned Store | Remodeled in 2016 and opened • Below Market Rents | Base rent is below similar
on February 24, 2016 properties in trade area
• Secure Income Stream | Harbor Freight Tools has • Signalized Corner | Located on the hard corner of
over 900 stores located in 47 states with an annual White Ln & Akers Rd having a daily traffic count of
Investment Overview
revenue of over $2 Billion (2018) 44,703 vehicles per day (approx.)
• Long-Term Passive Investment Opportunity | • Property & Location | Highly traveled east/west
Aerial Image Harbor Freight is operating under a 10-Year NNN freeway connector with high traffic counts, easy
Lease with minimal Landlord operating access, ample parking, and quality construction
responsibilities
Financial Summary
Tenant Profile
Site Plan
Demographics
Disclaimer
Contact Info
S U B J E C T S I T E Investment Overview Aerial Image Financial Summary Tenant Profile Site Plan Demographics Disclaimer Contact Info
HARBOR FREIGHT PRICE CAP RATE NOI
4100 White Ln
Bakersfield, CA
$2,627,345 5.50% $144,504
VITAL DATA
Investment Overview
GLA LOT SIZE YEAR BUILT
+/- 13,452 SF 1.36 AC 1995 (Remodeled 2015)
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LEASE SUMMARY
Financial Summary Lease Type NNN
Original Lease Term 10 Years
Tenant Profile Lease Commencement January 4, 2016
Lease Expiration February 24, 2026
Site Plan Lease Term Remaining 8 Years
Increases 10% Increase Every 5 Years
RENT SCHEDULE
Demographics Renewal Options Two, 5-Year Options TERM PERIOD MONTHLY ANNUAL
CAM Tenant Reimbursement 2016 - 2021 $0.90 $12,042 $144,504
Disclaimer Real Estate Taxes Tenant Reimbursement 2021 - 2026 $0.99 $13,190 $158,285
Insurance Tenant Reimbursement Option 1 $1.09 $14,636 $175,635
Contact Info Repairs & Maintenance Tenant Reimbursement Option 2 $1.23 $16,391 $196,695
HARBOR FREIGHT TOOLS, INC.
In 1977, when Harbor Freight Tools was started as a small those operated by leading consumer advocate
family-owned business, they made a commitment to organizations. They put our tools through punishing tests,
provide working people with great quality tools at the which far exceed the strain of normal use, ensuring that our
lowest prices. And for over 35 years, Harbor Freight Tools tools perform to professional standards and stay tough for
Investment Overview has done just that. From hand tools and generators, to air the long haul. Most importantly, when it comes to quality,
and power tools, from shop equipment to automotive they walk the walk - with a 100% satisfaction guarantee, no
tools, Harbor Freight offers more than 7,000 tools and hassle return policy and a lifetime warranty on all hand
Aerial Image accessories at quality levels that match or exceed tools.
competing brands, but at prices that are up to 80% less.
With 900 stores and over 40 million satisfied customers,
They buy direct from the same factories who supply the Harbor Freight Tools continues to grow, but they're still
Financial Summary expensive brands and pass the savings on to you. It's just family owned and for over 3 decades our mission has
that simple! Visit one of our 900 Stores Nationwide and see remained the same: deliver an incredible assortment of
for yourself why over 40 million satisfied customers and great quality tools at the lowest prices. See for yourself -
Tenant Profile leading automotive and consumer magazines keep talking stop by one of our 900 stores today and discover why
about our great quality and unbeatable prices. Harbor Freight Tools is the place to go for all of your tool
needs.
They test our tools in our own state-of-the-art labs, just like
Site Plan
Demographics
Disclaimer
Contact Info
source: www.harborfreight.com/about-us
Investment Overview
Aerial Image
Financial Summary
25ft Pylon
Tenant Profile Sign
Site Plan
Demographics
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Contact Information
44,703 VPD
5-Mile
3-Mile
Investment Overview 1-Mile
Aerial Image
Financial Summary
Tenant Profile
Population 1-Mile 3-Mile 5-Mile Income 1-Mile 3-Mile 5-Mile
2023 Population 16,750 170,821 294,302 2018 Average HH Income $62,124 $64,615 $72,074
Site Plan 2018 Population 16,391 163,416 278,751 2018 Median HH Income $51,122 $50,088 $52,026
2010 Population 16,076 152,968 253,619 $200,000+ 2.3% 2.6% 4.4%
2000 Population 15,657 129,015 200,419 $150,000 - $199,999 1.7% 3.3% 4.4%
Demographics
2018 Median Age 30.6 30.3 30.5 $100,000 - $149,999 13.1% 12.1% 12.9%
Households 1-Mile 3-Mile 5-Mile $75,000 - $99,999 13.7% 12.2% 12.3%
Disclaimer 2023 Households 5,465 51,763 89,370 $50,000 - $74,999 20.6% 19.8% 18.2%
2018 Households 5,372 50,035 85,550 $35,000 - $49,999 14.1% 15.6% 14.3%
2010 Households 5,306 47,870 79,634 $25,000 - $34,999 10.1% 10.3% 9.7%
Contact Info
2000 Households 5,297 43,830 67,163 $15,000 - $24,999 12.4% 11.7% 11.1%
2018 Median Size 3.04 3.25 3.24DISCLAIMER
The information contained in this Marketing Brochure is proprietary and strictly confidential. It is
intended to be reviewed only by the party receiving it from Olivieri Commercial Group, Inc., (“OCG”) and
should not be made available to any other person or entity without the written consent of OCG. This
Investment Overview
Marketing Brochure has been prepared to provide summary, unverified information to prospective
purchasers, and to establish only a preliminary level of interest in the subject property.
Aerial Image
The information contained herein is not a substitute for a thorough due diligence investigation.
Olivieri Commercial Group, Inc., has not made any investigation, and makes no warranty or
Financial Summary representation, with respect to the income or expenses for the subject property, the future projected
financial performance of the property, the size and square footage of the property and improvements,
Tenant Profile the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and
Federal regulations, the physical condition of the improvements thereon, or the financial condition or
Site Plan business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the
subject property.
Demographics The information contained in this Marketing Brochure has been obtained from sources believed
to be reliable; however, Olivieri Commercial Group, Inc., has not verified, and will not verify, any of the
information contained herein, nor has Olivieri Commercial Group, Inc., conducted any investigation
Disclaimer
regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or
completeness of the information provided. All potential buyers must take appropriate measures to
Contact Info
verify all of the information set forth herein.CONTACT INFORMATION
Investment Overview
Aerial Image
Financial Summary
Tenant Profile
Site Plan
Demographics
Disclaimer Exclusively Offered By:
Anthony Olivieri, CCIM, CRX Olivieri Commercial Group
Lic. 01325989 9810 Brimhall Road
Contact Information 661.617.1850 Bakersfield, CA 93312
anthony@oliviericommercial.com www.oliviericommercial.comYou can also read
