Freestanding Retail Building For
For Sale
Contact for pricing
703 W Lacey Blvd, Hanford, CA
16,750 SF retail building with high visibility and access.
Property Size16,750 SF
Lot Size1.47 Acres
Price / SF$229.85
Days on Market321
Property Features for 703 W Lacey Blvd
General Information
Standard status
Active
Size
16,750 SF
Lot size
1.47 Acres
Property subtype
RETAIL
Properties For Sale
at 703 W Lacey Blvd Contact us- Floor
- Bldg
- Size
- 16,750 SF
- Type
- RETAIL
- Availability
- AVAILABLE, Now
- Sublease
- No
707 W Lacey Blvd
- Approximately 16,750 square foot freestanding building
- Excellent visibility and...
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Listing Agency:
Colliers | Fresno
(559) 221-1271
Listed By:
Ted Fellner · License #00977465
(559) 269-6753
Source:
Moodyscre
Added: Oct 27, 2025
Changed: Sep 11
Last Checked: Sep 12 at 9:37AM
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 Colliers | Fresno
Investment Insights
Based on property information with market context.
This is a freestanding building with approximately 16,750 square feet of retail space. The property benefits from excellent visibility and access, along with ample parking. It is located at a high-traffic, signalized intersection with an average daily traffic count of approximately 40,000 vehicles.
Key Highlights
- Freestanding building with approximately 16,750 square feet
- High traffic, signalized intersection (±40,000 ADT)
- Excellent visibility
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$165,498
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,309,960
$3.3M
Cap Rate 7%
$2,364,257
$2.4M
Cap Rate 9%
$1,838,867
$1.8M
Market Conditions
NOI Build-Up for 16,750 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$251.3K $15.00/SF
− Vacancy
−$14.8K −$0.89/SF
EGI
$236.4K $14.11/SF
− OpEx
−$70.9K −$4.23/SF
NOI
$165.5K $9.88/SF
Area
Kings County, CA
Vacancy
5.90%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,309,960
Cap Rate 7%
$2,364,257
Cap Rate 9%
$1,838,867
Alternative Uses
Best Use
Retail
$2.36M
$2.07M – $2.76M
NOI $165,498 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$5.29M
$4.63M – $6.17M
NOI $370,440 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,059
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Retail space - 16,750 SF retail building with high visibility and access.
Where is this retail space located?
The property is located at 703 W Lacey Blvd Hanford, CA.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: Freestanding building with approximately 16,750 square feet; High traffic, signalized intersection (±40,000 ADT); Excellent visibility
