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21953222
21953223

1669, 1671, 1675 & 1679 W Lacey Blvd, Hanford, CA 93230

CA
CA CA 01383994
Marcus & Millichap - Fresno
Listed by Marcus & Millichap - Fresno
$29,900,000
469 days on market
Updated 91 days ago

Hanford Mall

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 306,082
Net Rentable (SqFt) 306,082
Cap Rate 6.86%
NOI $2,050,132
Occupancy 67%
Tenancy Multi
Lease Type Modified
Pro-Forma Cap Rate 9.81%
Pro-Forma NOI $2,932,955
Broker Co-Op Yes
Year Built 1993
Buildings 3
Acreage 27.780
Zoning Regional Commercial
Investment Type Value Add
Ownership Fee Simple

Immediate Value Add - Regional Mall with Vacant Anchor

Marketing description

Marcus & Millichap is pleased to exclusively offer the fee simple interest in the Hanford Mall, a regional shopping center located in Hanford, California. The 306,082-square-foot offering includes two separately parceled anchor buildings, over 169,000 square feet of mall corridor shop space and an additional parcel consisting of approximately 1.97 acres of parking space. Major tenants include JC Penney, Big 5 Sporting Goods, Foot Locker and Ross. In addition to serving as the primary retail hub for residents in Kings County, Hanford Mall also draws shoppers from outlying areas of nearby Fresno and Tulare Counties. The retail center is located 15 minutes from Naval Air Station Lemoore (the Navy’s largest master jet base) and just over 30 miles south of the city of Fresno. Thanks to its exceptional location in Central California, the Hanford Mall represents a unique opportunity for an investor to add further value to an already market-dominant asset.

Investment highlights

Market-Dominant Retail Hub Serving Residents in Kings, Fresno and Tulare Counties

Major Tenants Include JC Penney, Big 5 Sporting Goods & Ross

Substantial Near-Term Value Add Potential via the Repositioning of the Former Sears Anchor Building

Listing Contacts

CA
CA CA 01383994
Marcus & Millichap - Fresno
Listed by Marcus & Millichap - Fresno

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$2,050,132.00
$170,844.33/mo

Valuation Metrics

0
DSCR
6.86%
Cap Rate
6.86%
ROI

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Additional Information

Name
Chris Ajluni
License
CA 01383994
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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