For Sale
$575,000

714 11Th AveHanford, CA 93230

Fully leased, 7-tenant retail property.

Overview

Added:
Dec 11, 2024
Days on market:
119
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.

Highlights

  • 5.18% current cap rate, increasing to 6.64% with lease escalations.
  • Fully leased with long-term tenants.
  • Seven functional retail spaces, easily rentable.
  • Seven-unit retail investment opportunity.
  • Separate suites, multiple configuration options, and convenient access.
  • Long-term tenants, low turnover, and minimal maintenance.

Property Details for 714 11Th Ave

Property type
Office properties, Office space
Square Feet
3,772 SF
Buildings
1
Stories
1
Lot Size (sq. ft)
9,540 SF

Location Insight

City
Hanford
County
Kings
State
California
Latitude
36.333006544118
Longitude
-119.65519995555
714 11Th Ave, Hanford, California

FAQs

What type of property is this?
Office property - Fully leased, 7-tenant retail property.
Where is the office property located?
The property is located at 714 11Th Ave Hanford, CA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 5.18% current cap rate, increasing to 6.64% with lease escalations.; Fully leased with long-term tenants.; Seven functional retail spaces, easily rentable.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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714 11Th Ave
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