• 116 W 6th St, Hanford, CA 93230

For Sale

Retail

For Sale

This property is available for sale
0.33
Acres
$1,650,000
Sale Price
  • Year Built
    1903
  • Total Building Size
    25,000 RSF
  • Overview

    Located in Downtown Hanford off of 6th St within blocks of CA-198 with easy access to surrounding areas. Just a couple blocks from well known Superior Dairy Ice-cream, North of HWY-198, South of E 7th St, East of S Douty St & West of S Irwin St St. 100% Leased Investment Opportunity: Freestanding Absolute NNN Zero Landlord Responsibility Guaranteed Lease with $500 annual increases through 2025. Retail services have occupied this space for various years with family-operated Ideal Furniture Gallery recently inking a lease extension through 12/2025 for the 25,000 SF (since 2013). Full building remodel to suite their business needs and 2016 upgrades include brand new HVAC's paid for by the tenant, showing their commitment to the market and location. An additional 9,000 SF basement was recently leased for storage by a downtown business and is now available for additional income. Vibrant downtown Hanford attracts quality tenants surrounding the location bringing great synergy for Ideal Furniture Gallery to flourish. Well known and established store in a highly traveled area in Downtown Hanford. Functional floor plan that the tenant has made substantial improvements to. Positioned off 6th street and Douty Street, which carry approximately ±41,825 cars/day in the area; EB: ±16,582; WB: ±9,490; SB: ±7,017 & NB: ±8,736. Unique investment offering retail space within an under-built market with a strong need for these type of spaces. Offers a 8.89% cash-on-cash return when leveraged with 25% down (1.47 DCR). This safe and secure deal houses a corporate tenant operating 7 locations throughout Central CA on only $4.08/SF/YEAR rent, making them an extremely profitable and lucrative location. As a build-to-suit in 2013, Ideal Furniture Gallery has continued a long term occupancy with various recent tenant improvements including a newly remodeled interior, freshly updated amenities, and a pristine exterior with quality curb appeal and like-new feel. The building sits across from various City of Hanford maintained FREE parking lots conveniently located in the center of town. With 12 years left in the options through November 2037, this property will experience a dramatic increase in NOI with market rent. Great opportunity for a long term investor looking for a corporate guarantee and a Tenant who pays expenses direct.

Contact or Call

Property Details

NNN Leased Retail Building - Ideal Furniture Gallery

Located in Downtown Hanford off of 6th St within blocks of CA-198 with easy access to surrounding areas. Just a couple blocks from well known Superior Dairy Ice-cream, North of HWY-198, South of E 7th St, East of S Douty St & West of S Irwin St St. 100% Leased Investment Opportunity: Freestanding Absolute NNN Zero Landlord Responsibility Guaranteed Lease with $500 annual increases through 2025. Retail services have occupied this space for various years with family-operated Ideal Furniture Gallery recently inking a lease extension through 12/2025 for the 25,000 SF (since 2013). Full building remodel to suite their business needs and 2016 upgrades include brand new HVAC's paid for by the tenant, showing their commitment to the market and location. An additional 9,000 SF basement was recently leased for storage by a downtown business and is now available for additional income. Vibrant downtown Hanford attracts quality tenants surrounding the location bringing great synergy for Ideal Furniture Gallery to flourish. Well known and established store in a highly traveled area in Downtown Hanford. Functional floor plan that the tenant has made substantial improvements to. Positioned off 6th street and Douty Street, which carry approximately ±41,825 cars/day in the area; EB: ±16,582; WB: ±9,490; SB: ±7,017 & NB: ±8,736. Unique investment offering retail space within an under-built market with a strong need for these type of spaces. Offers a 8.89% cash-on-cash return when leveraged with 25% down (1.47 DCR). This safe and secure deal houses a corporate tenant operating 7 locations throughout Central CA on only $4.08/SF/YEAR rent, making them an extremely profitable and lucrative location. As a build-to-suit in 2013, Ideal Furniture Gallery has continued a long term occupancy with various recent tenant improvements including a newly remodeled interior, freshly updated amenities, and a pristine exterior with quality curb appeal and like-new feel. The building sits across from various City of Hanford maintained FREE parking lots conveniently located in the center of town. With 12 years left in the options through November 2037, this property will experience a dramatic increase in NOI with market rent. Great opportunity for a long term investor looking for a corporate guarantee and a Tenant who pays expenses direct.

  • Property Type
    Retail
  • Year Built
    1903
  • Sale Price
    $1,650,000
  • Total Building Size
    25,000RSF
  • Total Acres
    0.33
  • Sale Status
    Available
  • Last updated
    Sep 29, 2020
  • Property ID
    2168446

Landlord's Sales Representatives

  • jbrealestateservices@gmail.com
     
  • Kevin Land
    KW Commercial Central California
     
  • Jared Ennis
    KW Commercial Central California