Centennial Dr & Lacey Blvd
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Centennial Dr & Lacey Blvd
10.2 Acres of Commercial Land Offered at $3,332,340 in Hanford, CA 93232
Investment Highlights
- The last Large tract of undeveloped office land in Hanford.
- Zero new supply in pipeline with considerable existing demand and high growth projections.
- Extremely low vacancy in office sector in both Hanford submarket and Greater Hanford-Lemoore MSA.
- Located on Lacey Boulevard, a primary thoroughfare in the City of Hanford, in close proximity to hospital and superior court.
Executive Summary
Marcus & Millichap is pleased to present 10.2-Acres of bare land for commercial development in Hanford, California. Located on Lacey Boulevard, the primary commercial thoroughfare in Hanford, the subject offers location factors unmatched by any other
undeveloped parcel in the trade area. The subject sits adjacent to a Lowes anchored retail center and directly
North of a planned 316-unit apartment community to be built in two phases.Centennial Avenue which runs North-South along the East side of the subject site is a loop road which provides direct access to Adventist Medical Center, the only hospital in Hanford as well as the King’s County Government Center and the Superior Court. There has been an acute supply shortage in the Hanford submarket going
back at least 5-years which little to no new deliveries over that period. At the time of publication there are no new office projects in the development pipeline in Hanford. Portions of the subject site fronting on Lacey Boulevard may be suitable for retail
pads, for which there is significant demand in Hanford and very little supply (see sample site plans).The subject is generally flat and level and utilities are stubbed to the site.
undeveloped parcel in the trade area. The subject sits adjacent to a Lowes anchored retail center and directly
North of a planned 316-unit apartment community to be built in two phases.Centennial Avenue which runs North-South along the East side of the subject site is a loop road which provides direct access to Adventist Medical Center, the only hospital in Hanford as well as the King’s County Government Center and the Superior Court. There has been an acute supply shortage in the Hanford submarket going
back at least 5-years which little to no new deliveries over that period. At the time of publication there are no new office projects in the development pipeline in Hanford. Portions of the subject site fronting on Lacey Boulevard may be suitable for retail
pads, for which there is significant demand in Hanford and very little supply (see sample site plans).The subject is generally flat and level and utilities are stubbed to the site.
Property Facts
| Price | $3,332,340 | Property Subtype | Commercial |
| Sale Type | Investment or Owner User | Proposed Use | Office |
| No. Lots | 1 | Total Lot Size | 10.20 AC |
| Property Type | Land |
| Price | $3,332,340 |
| Sale Type | Investment or Owner User |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Office |
| Total Lot Size | 10.20 AC |
1 Lot Available
Lot
| Price | $3,332,340 | Lot Size | 10.20 AC |
| Price Per AC | $326,700 |
| Price | $3,332,340 |
| Price Per AC | $326,700 |
| Lot Size | 10.20 AC |
Flat and level 10.2-Acres zoned for Office development with utilities stubbed at the street.
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PROPERTY TAXES
| Parcel Number | 011-020-057-000 | Improvements Assessment | $0 |
| Land Assessment | $989,400 | Total Assessment | $989,400 |
PROPERTY TAXES
Parcel Number
011-020-057-000
Land Assessment
$989,400
Improvements Assessment
$0
Total Assessment
$989,400
zoning
| Zoning Code | O (Commercial Office) |
| O (Commercial Office) |
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Christopher Ajluni -
Marcus & Millichap Real Estate Investment Services
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Centennial Dr & Lacey Blvd
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