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    Property profile & analytics

    323 11Th Ave Hanford, CA 93230

    • Office buildings
    • 6,000 SF
    • 0.52 lot acres
    For Lease
    View listing
    Last Sale
    Sep 30, 2021
    $1,770,000
    Value Estimations
    $2,395,000
    Cap Rate Potential
    3.6%
    Office buildings
    Location Intelligence
    Property ID
    US10-2519984
    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

    • Physical Therapy Unlimited, Inc. (now with PRO~PT) / Physical Therapy Clinic
    • Caleb Pratt / Physiatrist
    • Elev8 South Valley / Vitamin & Supplements Store
    • CORI MARIE ROWE / Physical Therapist
    • NICHOLE MICHELLE CHENNAULT / Physical Therapist

    Property Details for 323 11Th Ave

    Year built
    1990
    Construction
    WOOD
    Lot size
    0.52 lot acres
    Property size
    6,000 SF
    Zone code
    CC
    Property type
    Office buildings
    APN
    012-013-008-000
    APU
    12013008000

    Description

    This exceptional 1,500 square foot end-cap retail and office space is ideally located at the high-traffic intersection of 11th Avenue and Lacey Boulevard in Hanford, California. Situated within a larger 6,000 square foot building, this unit offers excellent visibility and accessibility for businesses seeking a prominent presence in this thriving community. The space is adaptable to various uses, suitable for both traditional office and medical office practices, making it a versatile option for a range of professional enterprises. The property's address is 323 N 11th Ave, Hanford, CA 93230. The building allows for multiple tenancies, providing opportunities for collaboration or expansion within the same complex. This end-cap location provides ample street frontage and signage opportunities, enhancing brand visibility and attracting potential clients. The space is immediately available and ready for occupancy. The property is conveniently located in Hanford, California, offering easy access to major transportation routes and a diverse range of local amenities. This is a rare opportunity to secure a well-positioned, versatile commercial space in a desirable location. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,430,000
      ML approach
      $2,375,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,481,000
      Market price range: $731k - $1.48M

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanford
    County
    Kings
    State
    California
    Longitude
    -119.655
    Latitude
    36.3266
    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
    $19,544
    $459,000
    $1,346,400
    $1,805,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $455,000
      2.08 Acres

      1443 7th St

      PROFESSIONAL BUILDING • 2.08 Acres
      1443 7th St, Hanford, CA 93230-4937
      View Details
    • Value Estimation
      $1,205,000
      13,765 SF

      460 Kings County Dr

      PROFESSIONAL BUILDING • 13,765 SF
      460 Kings County Dr, Hanford, CA 93230-5953
      View Details
    • Value Estimation
      $520,000
      3,002 SF

      1331 Lacey Blvd

      PROFESSIONAL BUILDING • 3,002 SF
      1331 Lacey Blvd, Hanford, CA 93230-5904
      View Details
    • Value Estimation
      $560,000
      4,776 SF

      11899 Shaw Pl

      PROFESSIONAL BUILDING • 4,776 SF
      11899 Shaw Pl, Hanford, CA 93230-6644
      View Details
    • Value Estimation
      $310,000
      0.22 Acres

      1112 10th Ave

      PROFESSIONAL BUILDING • 0.22 Acres
      1112 10th Ave, Hanford, CA 93230-3746
      View Details
    • Value Estimation
      $355,000
      3,120 SF

      1155 Lacey Blvd

      PROFESSIONAL BUILDING • 3,120 SF
      1155 Lacey Blvd, Hanford, CA 93230-4342
      View Details

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      302.04 Acres

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      Prime Kings County land, residential & commercial potential.
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    Similar Nearby for Lease

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    • Contact for pricing
      3,848 SF

      Hanford Office Space Available

      Office space available for rent in Hanford, California.
      1711 N 11Th Ave, Hanford, CA 93230
      View Details
    • Contact for pricing
      6,000 SF

      Prime Hanford Office Space

      1,500 SF End Cap, 11th & Lacey
      323 11Th Ave, Hanford, CA 93230
      View Details
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    323 11Th Ave
    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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