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    Property profile & analytics

    Hanford, CA 93230

    • Grocery and convenience stores
    • 22,232 SF
    • 2.07 lot acres
    OFF-MARKET
    Value Estimations
    $4,065,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-5450196
    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

    • Grocery and convenience stores

    Property Details

    Year built
    2019
    Construction
    TYPE NOT SPECIFIED
    Lot size
    2.07 lot acres
    Property size
    22,232 SF
    Zone code
    CR
    Property type
    Grocery and convenience stores
    APN
    011-530-015-000
    APU
    11530015000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,660,000
      6.5%
      $3,380,000
      7%
      $3,140,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,539,000
      Market price range: $1.23M - $4.54M
      AI Estimate
      $4,278,000
      Market price range: $951k - $4.28M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,655,000
      Current use
      RESTAURANT
      $4,280,000
      Change: +61% Conversion: Easy
      OFFICE BUILDING
      $4,095,000
      Change: +54% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,945,000
      Change: +11% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanford
    County
    Kings
    State
    California
    Longitude
    -119.675
    Latitude
    36.3273
    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
    $45,739
    $1,323,947
    $2,901,307
    $4,225,254
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,215,000
      10,292 SF

      1767 Glendale Ave

      CONVENIENCE STORE (W/FUEL PUMP) • 10,292 SF
      1767 Glendale Ave, Hanford, CA 93230
      View Details
    • Value Estimation by Request
      960 SF

      11998 10th Ave

      GROCERY, SUPERMARKET • 960 SF
      11998 10th Ave, Hanford, CA 93230-6550
      View Details
    • Value Estimation
      $895,000
      6,329 SF

      375 11th Ave

      CONVENIENCE STORE (W/FUEL PUMP) • 6,329 SF
      375 11th Ave, Hanford, CA 93230-4511
      View Details
    • Value Estimation by Request
      1,400 SF

      929 10th Ave

      GROCERY, SUPERMARKET • 1,400 SF
      929 10th Ave, Hanford, CA 93230-4107
      View Details
    • Value Estimation by Request
      1,774 SF

      1020 10th Ave

      GROCERY, SUPERMARKET • 1,774 SF
      1020 10th Ave, Hanford, CA 93230-3744
      View Details
    • Value Estimation by Request
      2,236 SF

      1701 11th Ave

      GROCERY, SUPERMARKET • 2,236 SF
      1701 11th Ave, Hanford, CA 93230-2084
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,173 SF

      Profitable Shell Food Mart

      Established gas station and convenience store with long-term lease.
      620 W 7Th St, Hanford, CA 93230
      View Details
    • $900,000
      15,000 SF

      Freestanding Building in Downtown Hanford

      15,000 SF retail building in downtown Hanford, California.
      123 E 7Th St, Hanford, CA 93230
      View Details
    • $365,000
      1,290 SF

      Mixed-Use Investment in Downtown Hanford

      Mixed-use property with storefront and two residential units.
      122 E 8Th St, Hanford, CA 93230
      View Details
    • $450,000
      896 SF

      Retail Property in Hanford, CA

      Retail property for sale in Hanford, California.
      11005 S 10Th Ave, Hanford, CA 93230
      View Details
    • $625,000
      9,338 SF

      Downtown Hanford Retail Space For Sale

      Prime retail space in historic downtown Hanford, California.
      216 N Irwin St, Hanford, CA 93230
      View Details
    • $1,650,000
      25,000 SF

      Prime Retail Space Investment

      Leased retail space with long-term tenant in downtown Hanford.
      116 W 6Th St, Hanford, CA 93230
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,300 SF

      Retail Space Available For Rent

      Retail space available for rent in Hanford, California.
      839 W Lacey Blvd, Hanford, CA 93230
      View Details
    • Contact for pricing
      15,980 SF

      Hanford Retail Space For Lease

      Retail spaces available in Hanford's primary retail intersection.
      1808-1870 W Lacey Blvd, Hanford, CA 93230
      View Details
    • Contact for pricing
      2,630 SF

      Retail Space in Hanford, CA

      Retail space available for lease in Hanford, California.
      1489 W Lacey Blvd, Hanford, CA 93230
      View Details
    • $1.50 SF/Yr
      1,450 SF

      Retail/Office Spaces in Hanford Center

      Retail and office spaces available in high-traffic Hanford location.
      2637-2601 N 11Th Ave, Hanford, CA 93230
      View Details
    • Contact for pricing
      1,165 SF

      Retail Space in High-Traffic Location

      Versatile retail spaces in a sought-after Hanford location.
      1863 W Lacey Blvd, Hanford, CA 93230
      View Details
    • $2 SF/Yr
      3,112 SF

      New Retail Spaces in Hanford

      New retail spaces available in high-traffic Hanford location.
      1040 S 12Th Ave, Hanford, CA 93230
      View Details
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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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