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    New Retail Spaces in Hanford Title is generated by Realmo AI

    1040 S 12th Ave, Hanford, CA

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    New retail spaces available in high-traffic Hanford location.

    Type:RETAIL
    Property size:
    3,112 SF
    Lot size:
    1.22 Acres
    Added:
    Dec 20, 2024
    Days on Market:
    532
    Last Refresh:
    May 19 at 9:29 pm

    Property Features for 1040 S 12th Ave

    General Information

    Standard status
    Active
    Size
    3,112 SF
    Lot size
    1.22 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 1040 S 12th Ave Contact us

    We can help!

    Listing Contact
    Jared Ennis
    Jared Ennis

    Listing agent Jared Ennis License #01516541

    Listing office KW Commercial | Central California

    Listing date Dec 20, 2024

    Source Moodyscre

    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 KW Commercial | Central California

    HighLights

    • Prime retail location on the #1 retail corridor in Hanford with ±47,353 cars per day.
    • High‑identity corner location with corner signage/exposure and direct 12th Ave access.
    • Restaurant space available (3,112 SF to 4,012 SF) with TI's available.
    • Highly visible intersection with ample parking and easy access, including CA‑198 access.
    • New construction with energy‑efficient improvements and separately metered utilities.
    • Multiple configurations available (±720 - 9,526 SF) suitable for various businesses, including fast food, fuel station, hotel, and supermarket.

    Overview

    These brand new retail shop spaces are part of a new construction project, offering restaurant space from 3,112 to 4,012 square feet with Tenant Improvements available. The property benefits from a high-identity corner location with corner signage and exposure. Multiple configurations are available, ranging from approximately 720 to 9,526 square feet, with a 10-foot height. The location features a highly visible intersection with ample parking and easy access, along with energy-efficient improvements and separately metered utilities. Situated on the number one retail corridor in Hanford, this prime retail location is at a dominant intersection in a developing business district. The retail suites offer direct access to 12th Avenue and upgraded street improvements at the intersection. Each unit includes ADA restrooms, a mop sink, and a drain bowl. The property provides optimal visibility with easy access to CA-198, benefiting from unmatched consumer traffic and high-volume exposure. Located near many existing and planned developments, it is situated on the busiest retail growth corridor with approximately 47,353 cars per day. It is ideal for fast food, a fuel station, a hotel, a supermarket, and more.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hanford
    County
    Kings
    State
    California
    Longitude
    -119.673
    Latitude
    36.3126

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    FAQs

    What type of property is this?
    Retail space - New retail spaces available in high-traffic Hanford location.
    Where is this retail space located?
    The property is located at 1040 S 12th Ave Hanford, CA.
    What is the lease rate?
    The lease rate is $2 SF/Yr.
    What are key features of this property?
    This property features: Prime retail location on the #1 retail corridor in Hanford with ±47,353 cars per day.; High‑identity corner location with corner signage/exposure and direct 12th Ave access.; Restaurant space available (3,112 SF to 4,012 SF) with TI's available.
    (559) 705-1000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jared Ennis
    Jared Ennis
    Real Estate License ID: 01516541
    Learn More
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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.

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