Investment Building in Downtown Hanford, CA

Highlights:

• 7.96% Cap & 7.96% Cash-on-Cash Return After Stabilized
• Cash Cow To Produce $290K In Rents ($16.75/SF/Yr)
• Functional Hard To Find Small Spaces | Easy To Rent
• Proposed High-Speed Rail Station to Be Located in Hanford
• Offers Long-Term Growth Potential Through Improved Accessibility
• Long Term Tenants w/ Upside Potential Via Leasing
• Quality Roof, Working HVAC's, & Functional Floorplans
• Well-Known Freestanding Building w/ Douty Ave Exposure
• Private Lit Parking Lot + Street Parking | Great Visibility
• Convenient Location Between CA-198 and CA-43
• Busy & Established Corridor w/ Quick Access to Downtown
• Close Proximity to Major Traffic Generators (CA-198)
• Great Access & Visibility w/ Easy Highway Access
• Quality Construction | Well Maintained | Economical Spaces
• Investment Opportunity: Leased Freestanding Commercial Building
• Ample Parking, Quality Tenants, & Great Exposure
• Easy Access | Separate Suites | Multiple Configurations
• Requires Little Management or Maintenance After Remodeled

Description:

Value-add investment opportunity: Freestanding building totaling ±21,450 SF office/retail investment on ±0.25 Acres (±11,250 SF) of General, Professional, and/or Retail space off N Douty Ave. Offers (7) economical separate spaces on the bottom floor 100% leased to long-term tenants on Gross lease forms with an average size of 983 SF per unit. Value-add opportunity with actual rents of $84,804/year collected plus upside potential. Unique investment offering easy-to-rent small office spaces all with existing water/drain lines in each room within an under-built market offering a strong need for these type of spaces.

Upon a full remodel estimated to total $625K ($10/SF for the ground floor & $60/SF for the upstairs), and all spaces being leased out to achieve 100% occupancy at the rents of $2/SF Full Service upstairs and $1.15/SF downstairs, the proforma "all-in project cost" of $2,250,000 produces a 10.77% CAP rate and 10.77% Cash-on-cash return, based on $675K placed as a down payment.

Fully vacant top floor consisting of (32) small easy-to-rent spaces. After leasing the vacancies, the realistic 6-12 month stabilized gross annual income is $290,041.32 (3.5x existing rent).

The value-add opportunity consists of leasing (32) vacancies, and charging the customary "pass-through" expenses of Water, Sewer, Trash, and Gardening to eliminate these items from the Landlords ledger.

Located at the epicenter of downtown Hanford, on Douty Street just north of 7th street, south of 8th street, and east of Irwin Street. Central location surrounded with close proximity to many restaurants, services and many other amenities. Located on hard corner between Quesadilla Gorilla and Leonards Barber Salon, across the street from The Ivy Boutique and Dancers Edge, nearby quality tenants include Zaytoona, One Eleven Coffee, Hop Forged Brewing, El Tarasco, Casa Bella Furniture, Sherwin Williams Paint, Hola Cafecito, Fox Theater, Superior Dairy, Castaways Consignment, Caliva Dispensary, Salmon’s Furniture, Comfort Inn, Hanford Jewelry, Carnegie Museum, Wells Fargo, Bank of America, US Bank, BMO Bank, FAST Credit Union, Chase, West America Bank, US Bank, Bank of the Sierra, Starbucks, Dutch Brothers, and many more.

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