Property profile

425 7th St Hanford, CA 93230

OFF-MARKET
Investment properties
Property ID
US09-0673857
11,200 SF 0.86 ac lot Built 1985
Individually Owned 4-yr Hold Absentee Owner Free & Clear
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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

Current use

Occupant on record · Public records
  • Insurance Agency
  • Dental Office
  • Dental Office
  • Hair Salon Nail Salon
  • Dental Office

Location

425 7th St Hanford, CA 93230-4581
Hanford metro Census 902 HANFORD-CORCORAN, CA METROPOLITAN STATISTICAL AREA
Google Maps

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

since 2022
3 recorded transactions
2022
Price N/A
2012
Price N/A
1969
Price N/A

Zoning & alternative use

DC · Hanford, CA
Top alternative use upside
Restaurant $2.2M +45.4%
Office building $2.1M +39.1%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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