Grocery-Anchored Shopping Center Inline
For Sale
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1012 1048 & 1092 Kern St Portfolio, Taft, CA 93268
In-line retail shops inside a grocery-anchored center with a newly extended Albertsons.
Property Size24,741 SF
Price / SF$157.63
Days on Market53
Property Features for 1012 1048 & 1092 Kern St Portfolio
General Information
Standard status
Active
Size
24,741 SF
Property subtype
RETAIL
Additional Details
Anchor Co-Tenants
Albertsons
Building Details
Tenancy
Multi
Listing Agency:
Monarch Commercial Advisors
(925) 744-5217
Listed By:
Dave Lucas · License #01389761
(415) 269-8969
Source:
Moodyscre
Added: Jul 24
Changed: Sep 8
Last Checked: Sep 13 at 11:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Monarch Commercial Advisors
Investment Insights
Based on property information with market context.
This shopping center features in-line shops within a grocery anchored retail center, including a newly extended Albertsons. The property is presented as a portfolio comprising 1012, 1048, and 1092 Kern St in Taft, CA 93268. The total property size is 24,741 square feet.
Recent ownership changes are paired with a lease position supported by a mix of new leases and lease extensions. Several tenants have operated at the center for decades, reflecting long-running occupancy within the retail mix anchored by the grocer.
For retailers and operators seeking a grocery-adjacent in-line storefront environment, this center’s current leasing momentum and extended anchor investment may be an important starting point for evaluating space and tenant fit.
Recent ownership changes are paired with a lease position supported by a mix of new leases and lease extensions. Several tenants have operated at the center for decades, reflecting long-running occupancy within the retail mix anchored by the grocer.
For retailers and operators seeking a grocery-adjacent in-line storefront environment, this center’s current leasing momentum and extended anchor investment may be an important starting point for evaluating space and tenant fit.
Key Highlights
- In‑line shops within a grocery anchored shopping center
- Newly extended Albertsons serves as the grocery anchor
- New ownership with a mix of new leases
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$244,453
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,889,060
$4.9M
Cap Rate 7%
$3,492,186
$3.5M
Cap Rate 9%
$2,716,144
$2.7M
Market Conditions
NOI Build-Up for 24,741 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$371.1K $15.00/SF
− Vacancy
−$21.9K −$0.89/SF
EGI
$349.2K $14.11/SF
− OpEx
−$104.8K −$4.23/SF
NOI
$244.5K $9.88/SF
Area
Kern County, CA
Vacancy
5.90%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,889,060
Cap Rate 7%
$3,492,186
Cap Rate 9%
$2,716,144
Alternative Uses
Best Use
Retail
$3.49M
$3.06M – $4.07M
NOI $244,453 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.29M
$4.62M – $6.17M
NOI $369,977 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
517
Businesses Nearby
122k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Groceries 26%
Shops & Services 25%
Electronics 3%
Albertsons
Groceries
21,641 visits/mo
0.1 miles
McDonald's
Dining
13,994 visits/mo
0.1 miles
Fastrip
Shops & Services
11,498 visits/mo
0.2 miles
Jack in the Box
Dining
11,350 visits/mo
0.1 miles
Starbucks
Dining
10,690 visits/mo
0.1 miles
Demographics for 93268, CA
18,502
Population
6,289
Households
2.9
Avg Household Size
32
Median Age
9%
College-Educated
74%
High-School Grad
68.1 sq mi
ZIP Area
272
Density / Sq Mi
$55,473
Median Household Income
$28,563
Median Earnings
$998
Median Rent
$225,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - In-line retail shops inside a grocery-anchored center with a newly extended Albertsons.
Where is this shopping center located?
The property is located at 1012 1048 & 1092 Kern St Portfolio Taft, CA.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: In‑line shops within a grocery anchored shopping center; Newly extended Albertsons serves as the grocery anchor; New ownership with a mix of new leases
