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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    425 W 7Th St Hanford, CA 93230

    • Investment properties
    • 11,200 SF
    • 0.86 lot acres
    For Sale
    View listing
    $2,400,000
    Last Sale
    Apr 28, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-0673857
    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

    • agpro insurance / Insurance Agency
    • Ruggles Dental Lab / Dental Laboratory
    • Hong Tuan Huy La / Dentist
    • Beauty Bar Studios / Beauty Salon
    • Nikunj Raiyani / Dentist

    Property Details for 425 W 7Th St

    Year built
    1985
    Construction
    TILT-UP CONCRETE
    Lot size
    0.86 lot acres
    Property size
    11,200 SF
    Zone code
    DC
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    012-064-009-000
    APU
    12064009000

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,890,000
      6.5%
      $1,745,000
      7%
      $1,620,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,004,000
      Market price range: $720k - $2.00M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,485,000
      Current use
      RESTAURANT
      $2,155,000
      Change: +45% Conversion: Difficult
      OFFICE BUILDING
      $2,065,000
      Change: +39% Conversion: Easy
      RETAIL STORES
      $1,335,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanford
    County
    Kings
    State
    California
    Longitude
    -119.651
    Latitude
    36.3254
    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
    $14,608
    $217,725
    $1,131,728
    $1,349,453
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,150 SF

      314 7th St

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

      1366 10th Ave

      STORE/OFFICE (MIXED USE) • 1,609 SF
      1366 10th Ave, Hanford, CA 93230-3432
      View Details
    • Value Estimation
      $865,000
      10,600 SF

      217 Douty St

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

      862 Grangeville Blvd

      STORE/OFFICE (MIXED USE) • 0.64 Acres
      862 Grangeville Blvd, Hanford, CA 93230-2716
      View Details
    • Value Estimation
      $1,200,000
      20,719 SF

      213 Irwin St

      STORE/OFFICE (MIXED USE) • 20,719 SF
      213 Irwin St, Hanford, CA 93230-4539
      View Details
    • Value Estimation by Request
      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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      Hanford Land: 302 Acres Mixed-Use

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      Large industrial campus with rail connectivity in California's agricultural region.
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    Similar Nearby for Lease

    • $22 SF/Yr
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      Hanford Office Space Available

      Prime Hanford location, 1,800-2,200 SF.
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    • $1.75 SF/Yr

      Retail Space in Hanford Center

      Retail spaces available in shopping center anchored by major retailers.
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      680 SF

      Retail Space Available For Rent

      Retail space available for rent, 680 square feet.
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      View Details
    • Contact for pricing
      1,143 SF

      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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    • $0.45 SF/Yr
      10,000 SF

      Functional Warehouse Spaces in Hanford

      Clear-span warehouse spaces with heavy power and easy freeway access.
      13400 Hanford Armona Rd, Hanford, CA 93230
      View Details
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    425 W 7Th St
    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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