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    12th Ave & Lacey Blvd Hanford, CA 93230
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    Property profile & analytics

    12th Ave & Lacey Blvd, Hanford, CA 93230

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    • Neighborhood centers
    • 60,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 12th Ave & Lacey Blvd

    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 60,000 square foot retail property, situated at the southwest corner of 12th Avenue and Lacey Boulevard in Hanford, California (zip code 93230), presents a unique investment opportunity. Currently entirely vacant, this strip center offers a blank canvas for a variety of retail uses. The property's strategic location within Kings County ensures high visibility and accessibility, benefiting from significant traffic flow along major thoroughfares. The existing anchor tenant, Aldi, provides a strong draw for customers, creating a vibrant and established retail environment. The entire 60,000 square feet is available for lease, providing flexibility for large-scale retail operations or the potential for multiple tenants. This property is ideal for businesses seeking a high-traffic location in a growing market. The address is specifically the southwest corner of 12th Avenue and Lacey Boulevard. Detailed site plans and lease terms are available upon request. This is a rare opportunity to secure a substantial retail space in a desirable location within Hanford, California. Don't miss out on this chance to establish your business in a thriving retail center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hanford
    County
    Kings
    State
    California
    Longitude
    -119.675
    Latitude
    36.328

    Comparable in this City

    • Value Estimation by Request
      15,116 SF

      1020 12Th Ave

      Neighborhood centers
      1020 12Th Ave, Hanford, CA 93230
      View Details
    • Value Estimation by Request
      0.29 Acres

      Hanford, CA 93230

      SHOPPING CENTER, STRIP CENTER
      Hanford, CA 93230
      View Details
    • Value Estimation by Request
      5,000 SF

      212 12th Ave

      SHOPPING CENTER, STRIP CENTER
      212 12th Ave, Hanford, CA 93230-5992
      View Details
    • Value Estimation
      $525,000
      7,540 SF

      580 11th Ave

      SHOPPING CENTER, STRIP CENTER
      580 11th Ave, Hanford, CA 93230
      View Details
    • Value Estimation
      $1,715,000
      43,933 SF

      700 11th Ave, Unit 104

      SHOPPING CENTER, STRIP CENTER
      700 11th Ave, Hanford, CA 93230-3653
      View Details
    • Value Estimation
      $2,020,000
      16,082 SF

      1731 Lacey Blvd, Unit 101

      SHOPPING CENTER, STRIP CENTER
      1731 Lacey Blvd, Hanford, CA 93230-5903
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,289 SF

      Retail Property For Sale

      Retail property available for purchase in Hanford, California.
      1675 W Lacey Blvd, Hanford, CA 93230
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    • Contact for pricing
      23,154 SF

      Hanford Retail Anchor Space Available

      22,624 SF retail space in Hanford Towne Center.
      510-826 N 11Th Ave, Hanford, CA 93230
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      3,772 SF

      Fully Leased Retail Investment Opportunity

      Fully leased retail investment with long-term tenants and easy access.
      714 N 11Th Ave, Hanford, CA 93230
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      1,290 SF

      Downtown Hanford Mixed-Use Opportunity

      Mixed-use property with commercial storefront and two residential units.
      122 E 8Th St, Hanford, CA 93230
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    • Contact for pricing

      Established Car Wash Business Opportunity

      Operating car wash business for sale in Hanford, California.
      1697 W Lacey Blvd, Hanford, CA 93230
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    Similar Nearby for Lease

    • Contact for pricing
      1,103 SF

      Retail Space with Highway Visibility

      Retail space in Hanford Marketplace with excellent highway visibility.
      2453 E Lacey Blvd, Hanford, CA 93230
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    • Contact for pricing
      1,000 SF

      Retail Space in Hanford Strip

      Former salon space available for lease in Hanford, California.
      1716 N 11Th Ave, Hanford, CA 93230
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    • Contact for pricing
      2,100 SF

      Retail Space For Lease

      Retail space available in Hanford's primary retail intersection.
      1720 W Lacey Blvd, Hanford, CA 93230
      View Details
    • Contact for pricing

      Hanford Central District Shopping Center

      Shopping center in Hanford's Central District with high traffic.
      729 W Lacey Blvd, Hanford, CA 93230
      View Details
    • Contact for pricing
      2,720 SF

      Restaurant Building with Planned Drive-Thru

      Freestanding restaurant building with planned drive-thru, ample parking.
      8348 Lacey Blvd, Hanford, CA 93230
      View Details
    • Contact for pricing
      1,522 SF

      Retail/Office Spaces in Hanford Center

      Retail and office spaces available in high-traffic Hanford location.
      2637-2601 N 11Th Ave, Hanford, CA 93230
      View Details
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    Hanford, CA 93230
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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.

    More about this property
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