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    Property profile & analytics

    1044 Kern St Taft, CA 93268

    • Grocery and convenience stores
    • 43,041 SF
    • 3.37 lot acres
    For Lease
    View listing
    $0.75 SF/Yr
    Last Sale
    Mar 08, 2024
    $4,189,500
    Value Estimations
    $4,190,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3378340
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Starbucks / Cafe & Coffee Shop
    • Albertsons Bakery / Bakery / Specialty Food Shop
    • Primo Water Refill / Big Box & Wholesale Store
    • Albertsons / Grocery & Convenience Store / Food Market
    • Western Union / Bank / Credit Union

    Property Details for 1044 Kern St

    Year built
    1985
    Construction
    WOOD
    Lot size
    3.37 lot acres
    Property size
    43,041 SF
    Zone code
    GC
    Property type
    Grocery and convenience stores
    APN
    032-520-20-00-2
    APU
    3252020002

    Description

    Taft Hills Plaza, a prominent grocery-anchored retail center in Taft, California, presents a compelling investment opportunity. Located at the high-traffic intersection of Kern Street and 10th Street, this property boasts a total of 93,608 square feet of retail space. Currently, 10,263 square feet is available for lease, offering a unique chance to establish or expand your business within a thriving commercial hub. The center's strategic location ensures high visibility and accessibility for customers. The property is zoned C2, providing flexibility for a variety of retail uses. The address is 1044 Kern St, Taft, CA 93268. The property's Assessed Parcel Numbers (APN) are 032-520-14, 16, 17, 18, 19, 20 and 032-520-15, located in Kern County. This established center serves as Taft's primary grocery-anchored shopping destination, guaranteeing a strong customer base and significant foot traffic. The available space presents an excellent opportunity for businesses seeking a prime location within a well-established and successful retail environment. This is a multi-tenant property offering a variety of possibilities for prospective tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,190,000
      ML approach
      $4,190,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $5,415,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $6,415,000
      Change: +18% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,970,000
      Change: +10% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $5,465,000
      Change: +1% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Taft
    County
    Kern
    State
    California
    Longitude
    -119.466
    Latitude
    35.1462
    CBSA code
    12540
    CBSA name
    BAKERSFIELD, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $71,157
    $1,715,453
    $4,510,624
    $6,226,077
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      27530 Hwy 119

      GROCERY, SUPERMARKET • 3,685 SF
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    • Value Estimation by Request
      1,440 SF

      228 Asher Ave

      GROCERY, SUPERMARKET • 1,440 SF
      228 Asher Ave, Taft, CA 93268-4102
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    • Value Estimation
      $960,000
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      417 Finley Dr

      GROCERY, SUPERMARKET • 22,479 SF
      417 Finley Dr, Taft, CA 93268
      View Details
    • Value Estimation
      $620,000
      6,100 SF

      621 Ctr St

      GROCERY, SUPERMARKET • 6,100 SF
      621 Ctr St, Taft, CA 93268-3124
      View Details
    • Value Estimation
      $2,560,000
      21,104 SF

      521 Finley Dr

      GROCERY, SUPERMARKET • 21,104 SF
      521 Finley Dr, Taft, CA 93268-2418
      View Details
    • Value Estimation
      $735,000
      6,000 SF

      801 Wood St

      GROCERY, SUPERMARKET • 6,000 SF
      801 Wood St, Taft, CA 93268-4325
      View Details

    Similar Nearby for Sale

    • $195,000
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      ±1,174 SF Retail Space, High Visibility
      600 Center St, Taft, CA 93268
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    • $249,000
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      Retail Building with Private Parking

      1,807 SF retail building with leasing potential.
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    • $150,000
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      Taft Retail Building - $150K

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    • $129,999
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      Established Restaurant in High-Traffic Location

      Turnkey restaurant with high visibility and established customer base.
      300 Kern St, Taft, CA 93268
      View Details
    • $199,000
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      Retail Building in Historic Taft

      Prime retail building with adjacent lot in downtown Taft.
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    • $199,000
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      Expansive Commercial Building in Taft

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    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Retail Space in Taft, CA

      Retail space available for lease in Taft, California.
      900 Kern St, Taft, CA 93268
      View Details
    • $0.75 SF/Yr
      19,120 SF

      Retail Anchor Space Available

      19,120 SF anchor space in Taft Hills Plaza.
      1044 Kern St, Taft, CA 93268
      View Details
    • Contact for pricing
      130,680 SF

      Taft Retail & Land Opportunity

      High-visibility Taft retail space, 3.1 acres.
      300 Gardner Field Rd, Taft, CA 93268
      View Details
    • $12 SF/Yr
      55,750 SF

      Taft, CA Retail Center Opportunity

      Prime Retail Space Available in Taft, CA
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      View Details
    • $0.75 SF/Yr
      6,000 SF

      Industrial Warehouse/Office Near Taft Field

      6,000 SF industrial warehouse/office on 1.5 acre lot.
      1537 Kern St, Taft, CA 93268
      View Details
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    Taft, CA 93268
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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