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    Property profile & analytics

    1675 W Lacey Blvd Hanford, CA 93230

    • Super regional malls
    • 76,233 SF
    • 13.60 lot acres
    For Sale
    View listing
    $29,900,000
    Last Sale
    Oct 14, 2021
    $25,000,000
    Value Estimations
    Cap Rate Potential
    2.8%
    Super regional malls
    Location Intelligence
    Property ID
    US09-3028663
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Azkara Inc / Clothing Store
    • Fancy Nails / Nail Salon
    • Ross Dress for Less / Clothing Store / Men'S Clothing Store
    • Foot Locker / Clothing Store / Shoe Store
    • The Cupcake Route / Bakery

    Property Details for 1675 W Lacey Blvd

    Year built
    1993
    Construction
    TYPE NOT SPECIFIED
    Lot size
    13.60 lot acres
    Property size
    76,233 SF
    Zone code
    RC
    Property type
    Super regional malls
    APN
    011-060-038-000
    APU
    11060038000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $15,775,000
      6.5%
      $14,560,000
      7%
      $13,520,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $13,820,000
      COMMERCIAL (GENERAL)
      $13,740,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hanford
    County
    Kings
    State
    California
    Longitude
    -119.67
    Latitude
    36.325
    CBSA code
    25260
    CBSA name
    HANFORD-CORCORAN, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $157,876
    $4,552,260
    $10,031,954
    $14,584,214
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,545,000
      29,983 SF

      186 12th Ave

      REGIONAL SHOPPING CENTER, MALL • 29,983 SF
      186 12th Ave, Hanford, CA 93230-5984
      View Details
    • Value Estimation by Request
      1.67 Acres

      580 11th Ave

      REGIONAL SHOPPING CENTER, MALL • 1.67 Acres
      580 11th Ave, Hanford, CA 93230-4406
      View Details
    • Value Estimation
      $3,025,000
      98,843 SF

      1673 Lacey Blvd

      REGIONAL SHOPPING CENTER, MALL • 98,843 SF
      1673 Lacey Blvd, Hanford, CA 93230-5924
      View Details
    • Value Estimation
      $22,115,000
      75,852 SF

      1679 Lacey Blvd

      REGIONAL SHOPPING CENTER, MALL • 75,852 SF
      1679 Lacey Blvd, Hanford, CA 93230-5928
      View Details
    • Value Estimation
      $8,900,000
      39,542 SF

      510 11th Ave

      REGIONAL SHOPPING CENTER, MALL • 39,542 SF
      510 11th Ave, Hanford, CA 93230-4491
      View Details
    • Value Estimation
      $5,300,000
      206,251 SF

      250 12th Ave

      REGIONAL SHOPPING CENTER, MALL • 206,251 SF
      250 12th Ave, Hanford, CA 93230-6176
      View Details

    Similar Nearby for Sale

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      Fully Leased Retail Investment Opportunity

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      Profitable Car Wash & Office Space
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      Leased freestanding commercial building with high visibility and upside potential.
      208 N Douty St, Hanford, CA 93230
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    Similar Nearby for Lease

    • Contact for pricing
      1,143 SF

      Retail Space with Highway Visibility

      Retail space in Hanford Marketplace with excellent highway visibility.
      2453 E Lacey Blvd, Hanford, CA 93230
      View Details
    • $1,100 /Mo
      1,000 SF

      Retail Space in Hanford Strip

      Former salon space available for lease in Hanford, California.
      1716 N 11Th Ave, Hanford, CA 93230
      View Details
    • $1.25 SF/Yr
      22,624 SF

      Hanford Retail Anchor Space Available

      22,624 SF retail space in Hanford Towne Center.
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      View Details
    • Contact for pricing
      1,165 SF

      Retail Space in High-Traffic Location

      Versatile retail spaces in a sought-after Hanford location.
      1863 W Lacey Blvd, Hanford, CA 93230
      View Details
    • $1.75 SF/Yr

      Retail Space in Hanford Center

      Retail spaces available in shopping center anchored by major retailers.
      1802 W Lacey Blvd Hanford, Hanford, CA 93230
      View Details
    • $1.75 SF/Yr
      15,980 SF

      Hanford Retail Space For Lease

      Retail spaces available in Hanford's primary retail intersection.
      1808-1870 W Lacey Blvd, 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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