714-718 N 11th Ave | Hanford, CA 93230
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714-718 N 11th Ave
Hanford, CA 93230
Retail Property For Sale
Investment Highlights
- 5.18% Existing Cap & 6.64% Cap After Rent Increases
- Functional Retail Spaces | Easy To Rent
- Easy Access | Separate Suites | Multiple Configurations
- Fully Leased Investment w/ Long-Term Tenants
- Investment Opportunity: (7) Retail Spaces
- Long-Term Tenants | Low Turnover | Low Maintenance
Executive Summary
100% Leased Investment Opportunity: Prime location offering ±1,032 SF of multi-tenant retail shop spaces on ±0.219 acres in the center of Hanford, CA. Offers (7) easy-to-rent retail spaces leased to long-term tenants - including Farmers Insurance - on professionally drafted leases. The property sits comfortably in Hanford’s primary retail area, and with its close proximity to a major highway access is easily accessible to motorists. Located in a very thirsty market for Retail spaces. Great visibility, convenient parking & easy access to CA-198 on/off ramps. Many front parking spaces available, and excellent existing signage.
The value-add opportunity consists of addressing the under-market rent of (6) tenants, and experiencing (1) lease extension over the next 6-12 months. Value-add opportunity with actual rents of $42,024/year collected plus upside potential. After addressing the under market rents, the annual income is $50,400/year. Unique investment offering easy-to-rent small spaces within an under-built market offering a strong need for these type of units.
The value-add opportunity consists of addressing the under-market rent of (6) tenants, and experiencing (1) lease extension over the next 6-12 months. Value-add opportunity with actual rents of $42,024/year collected plus upside potential. After addressing the under market rents, the annual income is $50,400/year. Unique investment offering easy-to-rent small spaces within an under-built market offering a strong need for these type of units.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,772 SF
Building Class
C
Year Built
1957
Price
$575,000
Price Per SF
$152
Cap Rate
6.52%
NOI
$37,471
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.40
Lot Size
0.22 AC
Zoning
CC
Parking
10 Spaces (2.65 Spaces per 1,000 SF Leased)
Frontage
125 FT on 11th Ave
PROPERTY TAXES
| Parcel Number | 010-490-015-000 | Improvements Assessment | $350,000 |
| Land Assessment | $200,000 | Total Assessment | $550,000 |
PROPERTY TAXES
Parcel Number
010-490-015-000
Land Assessment
$200,000
Improvements Assessment
$350,000
Total Assessment
$550,000
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