714 11th Ave Hanford, CA 93230-3653

Property Details for 714 11th Ave

Year built

1957

Construction

WOOD

Lot size

0.22 lot acres

Property size

1,032 SF

Zone code

CC

Property type

Retail properties

APN

010-490-015-000

APU

10490015000

Description

This exceptional investment opportunity presents a fully leased, single-story retail center totaling approximately 3,772 square feet situated on a 0.219-acre lot in Hanford, California. The property, located at 714 N 11th Ave, boasts seven individual retail spaces, currently 100% occupied by a mix of long-term tenants, including Farmers Insurance. Leases are professionally drafted and offer a modified lease type. The property benefits from a prime location in Hanford's main retail area, providing excellent visibility and convenient access to Highway 198. Ample parking and existing signage further enhance its appeal. The current Net Operating Income (NOI) is $29,095, yielding a 5.06% cap rate. A significant value-add opportunity exists through lease adjustments to achieve a pro-forma NOI of $37,471 and a pro-forma cap rate of 6.52%. The asking price is $575,000, translating to $152.44 per square foot. The property is zoned CC and features individual HVAC systems and meters for each unit. This presents a unique opportunity to acquire a well-located, multi-tenant retail property with strong potential for increased income and return on investment in a market with high demand for retail space. The property's features include easy-to-rent spaces, low turnover, and low maintenance requirements.

Location Insight

City

Hanford

County

Kings

State

California

Longitude

-119.656

Latitude

36.3332

CBSA code

25260

CBSA name

HANFORD-CORCORAN, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments