Albertsons & Rite Aid Shadow

Land Description

RI Marketplace Online Auction March 24-26, 2025

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Marcus & Millichap is pleased to present 2.09 acres of undeveloped land located adjacent to 1076 Kern Street (the “Property”) in Taft, California. This Property offers an exceptional investment opportunity via development and First BID Meets Reserve.

The Property is a ±2.09-Acre parcel shadow to Taft's only grocery-anchored shopping center. The Property is well positioned with visibility and frontage on West Side Highway and benefits from traffic counts of 12,131 vehicles per day. The Property is in Taft's dominant retail corridor near a mix of residential, educational, and retail demand generators. Nearby retailers include Albertson's, Rite Aid, Subway, Family Dollar, Anytime Fitness, Auto Zone, McDonald's, Starbucks, Jack in the Box, Taco Bell, and more. The Property is situated across from Taft Union High School and Taft College, a 100-Year-Old school with over 5,700 students enrolled. The Property benefits from GC zoning, General Commercial District, with flexible uses permitted including retail, professional office, mini-storage, restaurant, and many more.

Taft is a city in Kern County, located in the San Joaquin Valley approximately 30 miles southwest of Bakersfield. Historically an oil town, Taft has long been associated with the energy sector, particularly petroleum extraction and refining. While oil continues to play a key role in the local economy, the city is gradually diversifying, offering opportunities in industrial, logistics, and residential development. The Property's location offers excellent real estate fundamentals within a robust area and extremely dense and compelling demographics with a 2024 population of ±17,035 residents and an average annual household income of ±$56,379 within a 5-mile radius. The population has experienced 8.4% growth from 2020-2024 with 1.47% growth expected over the next five years.