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    Investment properties

    425 W 7Th St, Hanford, CA 93230

    11,200 SF 0.86 ac lot Built 1985
    Individually Owned 4-yr Hold Absentee Owner Free & Clear
    Property ID
    US09-0673857
    Property summary
    AI-generated overview

    This exceptional Class A office building, known as the "Laundry Building," presents a unique investment opportunity in historic Hanford, California. Built in the early 1900s, this iconic two-story structure offers 16,462 square feet of versatile space currently configured as creative, executive, and traditional office suites. The property boasts a desirable location near downtown Hanford amenities and Highway 198, providing easy access to Visalia and surrounding areas. The building sits on a large private lot with ample parking, a rare find in this location. Currently leased to James G Parker Insurance, this investment property offers a pro-forma cap rate of 6.97% and an asking price of $2,400,000 ($145.79/SF). The property is zoned DC and features the APN 012-064-009. This is a prime opportunity to acquire a historically significant and well-located commercial property with strong income potential. The building's unique character and prime location make it an ideal investment for discerning buyers seeking a blend of history, functionality, and strong returns. The ample parking and convenient access to major thoroughfares further enhance its appeal. This is a rare chance to own a piece of Hanford's history while securing a profitable investment.

    Property profile
    Verified
    Property type Investment properties
    Use group STORE/OFFICE (MIXED USE)
    Year built 1985
    Construction TILT-UP CONCRETE
    Total area 11,200 SF
    Lot 0.86 ac (37,500 SF)
    Zoning code DC
    APN 012-064-009-000
    UPID US09-0673857
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • agpro insurance Insurance Agency
    • Ruggles Dental Lab Dental Office
    • Hong Tuan Huy La Dental Office
    • Beauty Bar Studios Hair Salon Nail Salon
    • Nikunj Raiyani Dental Office
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    $1.75M
    Comparable Approach Comparable
    $2.00M
    Blend (final) Blend
    $1.82M
    Owner & transaction history
    Dallas K Hakanson · 4 yrs held
    Dallas K Hakanson
    since 2022
    3 recorded transactions
    2022
    2012
    1969
    Zoning & alternative use
    DC · Hanford, CA
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Restaurant $2.2M +45.4%
    Office building $2.1M +39.1%
    Try Rey
    Ask anything about this address in plain English.
    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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