Albertsons NNN Investment
For Sale
Contact for pricing
1044 Kern Street, Taft, CA 93268
NNN Albertsons in Taft, CA with corporate guarantee.
Property Size43,056 SF
Price / SF$125.21
Days on Market96
Property Features for 1044 Kern Street
General Information
Standard status
Active
Size
43,056 SF
Total Parking Spaces
149
Property subtype
Retail
Zoning
GC - General Commercial
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$310,000
Building Details
Year Built
1985
Year Renovated
2003
Units
149
Tenancy
Single
Listing Agency:
SRS Real Estate Partners Newport Beach
(480) 221-4221
Listed By:
Jake Prater · License #CA 02090490
Source:
Crexi
Added: May 26
Changed: Aug 25
Last Checked: Aug 25 at 10:21PM
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 SRS Real Estate Partners Newport Beach
Investment Insights
Based on property information with market context.
This is an opportunity to acquire a fee simple interest in a corporate guaranteed Albertsons investment property in Taft, California, part of the Bakersfield MSA. Albertsons LLC, the tenant, recently extended its lease for 8 years, with 6 options to extend for 5 years each. The lease is NNN, which minimizes landlord responsibilities. The property has been a grocery store since 1986. Albertsons Companies operates a grocery platform with over 2,200 stores across 35 states under more than 20 banners, including Albertsons, Safeway, and Vons. The subject property anchors Taft Hills Plaza, a retail center of over 96,000 square feet that serves as the primary shopping destination for the community and attracts over 1.6 million annual visits. The property is located on Kern Street (9,400 VPD), with access to Highway 33, also known as the ‘Petroleum Highway,’ which connects travelers throughout California and employees in the oil and gas industry. The plaza includes tenants like Subway and Anytime Fitness, and outparcels such as Jack in the Box, Starbucks, and AutoZone. The property is directly adjacent to Taft College, which provides a consumer base of over 4,000 students. Taft is located 35 miles West of Bakersfield.
Key Highlights
- NNN lease with corporate guarantee from Albertsons (NYSE: ACI) for a stable, low‑management investment.
- Recently extended Albertsons lease for 8 years with 6 (5‑year) options, showing long‑term commitment.
- Grocery anchor to Taft Hills Plaza, a 96K+ square foot retail center attracting 1.6 million annual visits.
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
$476,049
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
8.83%
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%
$9,520,980
$9.5M
Cap Rate 7%
$6,800,700
$6.8M
Cap Rate 9%
$5,289,433
$5.3M
Market Conditions
NOI Build-Up for 43,056 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
$671.7K $15.60/SF
− Vacancy
−$36.9K −$0.86/SF
EGI
$634.7K $14.74/SF
− OpEx
−$158.7K −$3.69/SF
NOI
$476.0K $11.06/SF
Area
Kern County, CA
Vacancy
5.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
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%
$9,520,980
Cap Rate 7%
$6,800,700
Cap Rate 9%
$5,289,433
Alternative Uses
Best Use
Specialty Retail
$6.80M
$5.95M – $7.93M
NOI $476,049 @ 7.0% cap · market cap 8.83%
Second Best
Retail
$6.08M
$5.32M – $7.09M
NOI $425,415 @ 7.0% cap · market cap 7.89%
Theoretical Best
Warehouse
$9.20M
$8.05M – $10.73M
NOI $643,860 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
96k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 23%
Groceries 23%
Electronics 3%
Albertsons
Groceries
21,641 visits/mo
0.1 miles
McDonald's
Dining
13,994 visits/mo
0.2 miles
Fastrip
Shops & Services
11,498 visits/mo
0.3 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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Grocery Outlet — 877 Supply Row, Taft, CA 93268
- Albertsons — 1044 Kern St, Taft, CA 93268
- Save-A-Lot — 521 Finley Dr, Taft, CA 93268
- SaveMore — 521 Finley Dr, Taft, CA 93268
- Jalisco Meat Market — 368 Harrison St, Taft, CA 93268
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - NNN Albertsons in Taft, CA with corporate guarantee.
Where is this grocery and convenience store located?
The property is located at 1044 Kern Street Taft, CA.
What is the asking price?
The asking price for this property is $5,391,000.
What are key features of this property?
This property features: NNN lease with corporate guarantee from Albertsons (NYSE: ACI) for a stable, low‑management investment.; Recently extended Albertsons lease for 8 years with 6 (5‑year) options, showing long‑term commitment.; Grocery anchor to Taft Hills Plaza, a 96K+ square foot retail center attracting 1.6 million annual visits.
