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4500 Morning DrBakersfield, CA 93306
Rio Bravo Point
Asset ClassHealthcare Facility, Office
Rentable SF66,139
% Leased: 79%Year Built: 2015Weighted Average Lease Term: 4.3 YearsAccess Data Room
overview of deal

Overview

Cushman & Wakefield’s Healthcare Capital Markets team is pleased to present the opportunity to acquire a Rio Bravo Point—a premier Class A medical outpatient facility totaling 66,139 square feet located at 4500 Morning Drive in Bakersfield, California.

 

Completed in 2015 on a 4.48-acre site, the property is currently 79% leased to a curated mix of four synergistic healthcare providers, all operating under triple-net (NNN) leases with a weighted average remaining lease term of 4.3 years. The tenant roster is anchored by RadNet Management, Inc. (31% of GLA) and Bakersfield Specialist Surgical Center ASC (25% of GLA)—both of which have made substantial capital investments in tenant improvements. These high-acuity improvements create a significant replacement cost barrier, reinforcing tenant retention and enhancing renewal prospects.

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Investment Highlights

Deal Size
$35 M
Cap Rate
8%
Net Operating Income
$2.8 Million
  • Class A medical outpatient building (MOB) totaling 66,139 SF on 4.48 acres
  • 79% leased to four synergistic healthcare providers under NNN leases
  • 4.3 years average remaining lease term
  • Anchored by RadNet and Bakersfield Specialist Surgical Center
  • Significant capital investment in imaging, oncology, and surgical build-outs
  • 92% medical office occupancy in the 10-mile trade area
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4500 Morning DrBakersfield, CA 93306

Listing Team

Travis IvesExecutive Director | Healthcare Capital Markets(858) 334-4041travis.ives@cushwake.com
Gino J LollioExecutive Director | Healthcare Capital Markets(312) 338-7061gino.lollio@cushwake.com
Tyler MorssDirector | Healthcare Capital Markets(339) 222-3201tyler.morss@cushwake.com
Alex BalfourExecutive Director+1 661 304 2521alex.balfour@cushwake.com
Scott SaltersSenior Director+1 661 204 6725scott.salters@cushwake.com
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Listing provided by Revere CRE