1092 Kern St, Taft, CA 93268
3 Retail Properties Offered at $4,988,202 in Taft, CA
For Sale
Active
Asking Price $4,988,202
- Property Type
-
Retail
- Square Feet
- 17,982 SF
Listing Contacts
David Lucas
Brandon Norton
Property Overview
Excellent Mix of Tenants with 20+ Year Operating History and New 2024 Leases for Multiple Tenants Safe 1 Credit Union has been at the center since 2000 and recently extended its lease through 2029 with 3% annual increases and one, 5-year option. Taft Nails has been operating at the center since 2004 and extended to 2029. New leases with Fitness Studio, Sweet Surprises, Clothing Boutique and Cigarettes retail location.
High Visibility Desirable Retail, Below Replacement Cost Ample parking and easy access for all tenants: this is a very attractive low price-point deal with defendable rent and a cap rate yield that will be financeable at 6.35%.
Dominant Grocery Anchored Center in the Market The grocery anchor, Albertson’s, has just extended their lease for 10 years and is the #1 store serving the traditional grocery needs of the community. Albertsons received over 534K visits to the store in the past 12 months (Sites USA). Other national tenants, including Starbucks (269K annual visits), Rite Aid, AutoZone, and Jack in the Box, add to the regional draw to the center.
Hands-on Operational Improvements are Revitalizing Center New ownership has made tactical moves to quickly enhance the property: AutoZone has been relocated in-line, tripling its size and the Jack-in the-Box pad was acquired by its operator.
Leasing Activity is Highly Active & Strategic Albertsons has signed a 10-year extension and will benefit from landlord improvements, further bolstering the legacy of this dominant grocer. Active leasing efforts are underway with interest from a leading national fitness brand, among others.
Strong Economic Indicators for the Market Taft is located in the center of the Midway-Sunset Oilfield, the largest oil field in the lower 48 states. The city is within Kern County, the largest provider of oil and renewable energy in CA, and #3 in agricultural production in the US. The Naval Air Warfare Center Weapons Division at China Lake, and Edwards Air Force Base further enhance and diversify the county’s economy.
High Visibility Desirable Retail, Below Replacement Cost Ample parking and easy access for all tenants: this is a very attractive low price-point deal with defendable rent and a cap rate yield that will be financeable at 6.35%.
Dominant Grocery Anchored Center in the Market The grocery anchor, Albertson’s, has just extended their lease for 10 years and is the #1 store serving the traditional grocery needs of the community. Albertsons received over 534K visits to the store in the past 12 months (Sites USA). Other national tenants, including Starbucks (269K annual visits), Rite Aid, AutoZone, and Jack in the Box, add to the regional draw to the center.
Hands-on Operational Improvements are Revitalizing Center New ownership has made tactical moves to quickly enhance the property: AutoZone has been relocated in-line, tripling its size and the Jack-in the-Box pad was acquired by its operator.
Leasing Activity is Highly Active & Strategic Albertsons has signed a 10-year extension and will benefit from landlord improvements, further bolstering the legacy of this dominant grocer. Active leasing efforts are underway with interest from a leading national fitness brand, among others.
Strong Economic Indicators for the Market Taft is located in the center of the Midway-Sunset Oilfield, the largest oil field in the lower 48 states. The city is within Kern County, the largest provider of oil and renewable energy in CA, and #3 in agricultural production in the US. The Naval Air Warfare Center Weapons Division at China Lake, and Edwards Air Force Base further enhance and diversify the county’s economy.
Highlights
- 15,900 Combined VPD at Intersection
- 534K Annual Visits to The Albertsons Grocery Anchor
- Top daily needs center in Taft, CA
- 20+ years of operating history for subject property tenants
All available spaces
- Space
- Size
- 4,637 SF
- Space Subtype
- Retail
- Space
- 1048 Kern St
- Size
- 5,718 SF
- Space Subtype
- Retail
- Space
- 1012 Kern St
- Size
- 7,627 SF
- Space Subtype
- Retail
Nearby Properties
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