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    Property profile & analytics

    217 7th St Hanford, CA 93230-4523

    • Investment properties
    • 5,000 SF
    • 0.12 lot acres
    OFF-MARKET
    Last Sale
    Mar 21, 2023
    $385,000
    Value Estimations
    $515,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3600564
    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

    • Laporsha Foster - Vero Mortgage / Mortgage Broker

    Property Details for 217 7th St

    Lot size
    0.12 lot acres
    Property size
    5,000 SF
    Zone code
    DC
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    012-055-004-000
    APU
    12055004000

    Description

    This exceptional 5,071 square foot retail/office building, located at 217 W 7th St in Hanford, CA 93230, presents a unique investment opportunity. Built in 1940 and extensively renovated in 2014 and 2021, this single-story building sits on a 0.12-acre lot (APN: 012-055-004) and is zoned MX-D. The property boasts a high-exposure corner location within a densely populated trade area, benefiting from approximately 17,864 cars per day passing by. The interior features three classrooms, two offices, a conference room, a large breakroom, and restrooms, all in move-in ready condition with new carpet and upgraded bathrooms. Ample private parking is available with multiple access points. The building's proximity to Main Street Hanford, a hub for community events, further enhances its appeal. This is an ideal location for a variety of businesses, capitalizing on the high visibility and pedestrian traffic in downtown Hanford. The asking price is $550,000, translating to $108.46 per square foot. Within a 5-mile radius, there are approximately 71,912 residents. This property offers unmatched access and visibility, making it a truly exceptional investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $480,000
      ML approach
      $460,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $845,000
      6.5%
      $780,000
      7%
      $725,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $644,000
      Market price range: $321k - $895k

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanford
    County
    Kings
    State
    California
    Longitude
    -119.648
    Latitude
    36.3259
    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
    $4,251
    $51,000
    $341,700
    $392,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $330,000
      2,150 SF

      314 7th St

      STORE/OFFICE (MIXED USE) • 2,150 SF
      314 7th St, Hanford, CA 93230-4604
      View Details
    • Value Estimation
      $330,000
      1,609 SF

      1366 10th Ave

      STORE/OFFICE (MIXED USE) • 1,609 SF
      1366 10th Ave, Hanford, CA 93230-3432
      View Details
    • Value Estimation
      $335,000
      10,600 SF

      217 Douty St

      STORE/OFFICE (MIXED USE) • 10,600 SF
      217 Douty St, Hanford, CA 93230-4645
      View Details
    • Value Estimation
      $305,000
      0.64 Acres

      862 Grangeville Blvd

      STORE/OFFICE (MIXED USE) • 0.64 Acres
      862 Grangeville Blvd, Hanford, CA 93230-2716
      View Details
    • Value Estimation
      $735,000
      20,719 SF

      213 Irwin St

      STORE/OFFICE (MIXED USE) • 20,719 SF
      213 Irwin St, Hanford, CA 93230-4539
      View Details
    • Value Estimation
      $345,000
      2,232 SF

      11292 10th Ave

      STORE/OFFICE (MIXED USE) • 2,232 SF
      11292 10th Ave, Hanford, CA 93230-6219
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Prime Hanford location, 1,800-2,200 SF.
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      Retail spaces available in shopping center anchored by major retailers.
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      View Details
    • Contact for pricing
      680 SF

      Retail Space Available For Rent

      Retail space available for rent, 680 square feet.
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    • Contact for pricing
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      Retail Space with Highway Visibility

      Retail space in Hanford Marketplace with excellent highway visibility.
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    • $8 SF/Yr
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      Hanford Retail Space Available

      Downtown Hanford flex space, 3,900-8,000 SF
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      View Details
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      Functional Warehouse Spaces in Hanford

      Clear-span warehouse spaces with heavy power and easy freeway access.
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      View Details
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    217 7th St
    Hanford, CA 93230-4523
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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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