Retail Strip Mall in
For Sale
Contact for pricing
75 West Hanford Armona Road Lemoore, Lemoore, CA 93245
Retail strip mall with established tenants in a prime location.
Property Size8,184 SF
Price / SF$342.13
Days on Market135
Property Features for 75 West Hanford Armona Road Lemoore
General Information
Standard status
Active
Size
8,184 SF
Class
C
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$136,494
Building Details
Year Built
2003
Buildings
1
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Casey & Associates
Listed By:
Vicky Casey · License #02093208
Source:
Crexi
Added: Mar 27
Changed: Aug 8
Last Checked: Aug 8 at 1:15PM
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 Casey & Associates
Investment Insights
Based on property information with market context.
Located in Lemoore's retail area at 75 W Hanford-Armona Road, this strip mall offers a mix of convenience, dining, and services. The property is home to a Verizon store, a Thai restaurant, and a physical therapy clinic. The location benefits from high visibility and foot traffic, and proximity to major retailers. This location is suited for businesses and customers seeking quality and convenience.
Key Highlights
- Prime location in Lemoore's busy retail corridor.
- High visibility and steady foot traffic.
- Mix of established tenants: Verizon store, Thai restaurant, and physical therapy clinic.
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
$80,862
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
2.89%
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%
$1,617,240
$1.6M
Cap Rate 7%
$1,155,171
$1.2M
Cap Rate 9%
$898,467
$898.5K
Market Conditions
NOI Build-Up for 8,184 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
$122.8K $15.00/SF
− Vacancy
−$7.2K −$0.89/SF
EGI
$115.5K $14.11/SF
− OpEx
−$34.7K −$4.23/SF
NOI
$80.9K $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%
$1,617,240
Cap Rate 7%
$1,155,171
Cap Rate 9%
$898,467
Alternative Uses
Best Use
Retail
$1.16M
$1.01M – $1.35M
NOI $80,862 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.59M
$2.26M – $3.02M
NOI $180,996 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
269k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 21%
Groceries 20%
Electronics 4%
Save Mart
Groceries
39,852 visits/mo
0.2 miles
McDonald's
Dining
28,468 visits/mo
0.2 miles
Dutch Bros. Coffee
Dining
21,496 visits/mo
0.3 miles
Jack in the Box
Dining
16,954 visits/mo
0.3 miles
Dollar Tree
Shops & Services
15,680 visits/mo
0.2 miles
Demographics for 93245, CA
38,045
Population
12,995
Households
2.9
Avg Household Size
30
Median Age
20%
College-Educated
84%
High-School Grad
118.9 sq mi
ZIP Area
320
Density / Sq Mi
$78,181
Median Household Income
$40,279
Median Earnings
$1,470
Median Rent
$324,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip mall with established tenants in a prime location.
Where is this strip mall located?
The property is located at 75 West Hanford Armona Road Lemoore Lemoore, CA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Prime location in Lemoore's busy retail corridor.; High visibility and steady foot traffic.; Mix of established tenants: Verizon store, Thai restaurant, and physical therapy clinic.
