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

    729 W Lacey Blvd Hanford, CA 93230

    • Strip malls
    • 9,270 SF
    • 0.40 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3034598
    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

    • Jimmy Alvarez - State Farm Insurance Agent / Renter'S Insurance Agency / Insurance Agency
    • Burns & Whitaker Insurance Services Hanford / Auto Insurance Agency / Home Insurance Agency
    • Action Insurance / Auto Insurance Agency / Motorcycle Insurance Agency
    • Port of Subs / Delivery Restaurant / Takeout Restaurant
    • Logic Legal Solutions, Inc. / Mediation Service / Process Server

    Property Details for 729 W Lacey Blvd

    Lot size
    0.40 lot acres
    Property size
    9,270 SF
    Zone code
    CC
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    012-261-003-000
    APU
    12261003000

    Description

    The Gables Shopping Center offers a fantastic retail opportunity in the heart of Hanford's Central District. This strip center, located at the southwest corner of 11th and Lacey Boulevard, boasts a highly visible location with excellent access to Highway 198 on/off ramps. The 543 square foot building currently has 680 square feet of vacant space available, perfect for a variety of retail uses. The center enjoys significant foot traffic due to its proximity to Adventist Health Medical Center, numerous Kings County Government Agencies, and Hanford West High School, serving a population exceeding 56,000. Existing tenants include Port of Subs and Wienerschnitzel, further enhancing the center's appeal. The property benefits from heavy commuter traffic along Lacey Boulevard and offers ample free on-site parking for customer convenience. Building and pylon signage opportunities are available along Lacey Boulevard, providing excellent visibility for potential tenants. This is a rare opportunity to establish a business in a thriving, well-established shopping center with strong demographics and high visibility. The available space is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanford
    County
    Kings
    State
    California
    Longitude
    -119.656
    Latitude
    36.3275
    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
    $10,373
    $131,352
    $826,874
    $958,226
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $985,000
      13,334 SF

      Hanford, CA 93230

      SHOPPING CENTER, STRIP CENTER • 13,334 SF
      Hanford, CA 93230
      View Details
    • Value Estimation
      $7,500,000
      34,340 SF

      2597 11th Ave

      SHOPPING CENTER, STRIP CENTER • 34,340 SF
      2597 11th Ave, Hanford, CA 93230-1426
      View Details
    • Value Estimation
      $810,000
      5,850 SF

      420 11th Ave

      SHOPPING CENTER, STRIP CENTER • 5,850 SF
      420 11th Ave, Hanford, CA 93230-4599
      View Details
    • Value Estimation
      $1,250,000
      29,331 SF

      110 11th Ave

      SHOPPING CENTER, STRIP CENTER • 29,331 SF
      110 11th Ave, Hanford, CA 93230-5057
      View Details
    • Value Estimation by Request
      6,745 SF

      701 Irwin St

      SHOPPING CENTER, STRIP CENTER • 6,745 SF
      701 Irwin St, Hanford, CA 93230-3813
      View Details
    • Value Estimation by Request
      0.52 Acres

      Hanford, CA 93230

      SHOPPING CENTER, STRIP CENTER • 0.52 Acres
      Hanford, CA 93230
      View Details

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    Similar Nearby for Lease

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      Retail Space with Highway Visibility

      Retail space in Hanford Marketplace with excellent highway visibility.
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      Retail Space in High-Traffic Location

      Versatile retail spaces in a sought-after Hanford location.
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    • $1.75 SF/Yr
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      Hanford Retail Space For Lease

      Retail spaces available in Hanford's primary retail intersection.
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    • $1.75 SF/Yr
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      Retail Space For Lease

      Retail space available in Hanford's primary retail intersection.
      1720 W Lacey Blvd, Hanford, CA 93230
      View Details
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    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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