HERCULES - As a resident of growing Hercules - known for its nouveau Victorian homes, tree-lined streets and Bay views - Jason Akel said he pines for a Whole Foods, a Banana Republic and maybe one of those holistic drugstores like Elephant Pharmacy.

"We want upscale groceries," said Akel, who showed up to protest Thursday at the grassy field where the giant retailer plans to open a 142,000-square-foot store in 2007.

A recent city-commissioned study confirms Akel's sentiments, concluding that Hercules may be, simply put, too rich for a Wal-Mart.

The 2005 projected median income hovers near $87,000 a year, according to the study. More than 40 percent of the city's 22,000 residents are Asian, considered a coveted consumer segment.

"This demographic profile suggests there is an opportunity and demand to provide niche retailing to the higher income, mainly Asian demographic," the consultants say.

The study also warned that placing the huge discount retailer in a prominent shopping center could scare off desirable high-end retailers at other planned shopping districts. That would leave the area glutted with businesses that typically pop up near a Wal-Mart: Dollar Joe's, Check into Cash, Popeye's Chicken, which surround the retail chain's Pittsburg location.

"Given the city's strategic plan to provide services tailored to its residents," the report says, "these are not the types of retailers the City should be pursuing."

Wal-Mart bought land at the future Bayside Marketplace late last year and applied to build on the 17-acre parcel last month.

The city asked Strategic Economics of Berkeley and Main Street Property Services, a developer of higher-end retail shopping centers, to review Wal-Mart's economic impact report submitted in June. The company's report states that the Hercules store, to be located in a business park near San Pablo Bay, would not threaten local businesses.

Wal-mart says the store would provide 350 jobs, low-priced goods and $300,000 in taxes to the city.

However, a vocal group of residents called Friends of Hercules has stirred up opposition to the store. At the protest, opponents ranging from high school students to ministers railed against Wal-mart. They complained of the questionable labor practices, worries over increased traffic and the fact that an agreement with the site's developer limits the marketplace to stores of 64,000-square-feet or less.

"Wal-mart is terrible for this community," said Brenda Smith-Johnson, a Friends of Hercules member.

Locating a Wal-Mart in a more upscale area represents a departure for the big retailer, which excels in more solidly middle-class areas, said Anthony Archie, a public policy fellow in business and economics at the Pacific Research Institute based in San Francisco.

However, Archie said that the company could still serve the community's needs by altering its stock to match the wants of the higher income bracket, and that Wal-mart should be given a chance.

"It's unfortunate that any city blocks an employer of people and a seller of goods in an area where there's a demand for it," Archie said.

He also suggested that perhaps the vision that Hercules residents hold of their small suburban town - affluent, pedestrian-friendly, supportive of small businesses - does not match reality.

"I'm sure they have pride in their city and love it," Archie said. "But maybe they need to re-evaluate who they are."