Centennial Plaza Hanford Mall 35,671 CPD 19 Glendale Ave 198 198 70,010 CPD 10715 th AVENUE PRIME DEVELOPMENT OPPORTUNITY: ±16.38 ACRES OF LAND Lender Owned th AVENUE Excellent Freeway Oriented, Big Box, Shopping Center or Hotel site KIPP GSTETTENBAUER, CCIM Senior Vice President 858.458.3345 kipp@voitco.com Lic. #01405420 RYAN KING, CCIM Vice President 858.458.3322 rking@voitco.com Lic. #01885401
Property Information SALE PRICE: $3,500,000 ($4.91/SF) ADDRESS: 10715 12th Avenue, Hanford, CA 93230 APN: 018-650-010 and -011 PARCEL ACRES: PARCEL SF: ±16.38 Acres (Combined) APN: 018-650-010= 14.93 Acres APN: 018-650-011= 1.45 Acres ±712,206 Square Feet (Combined) PARCEL FRONTAGE: 770 lineal feet of freeway frontage at 12th Avenue TRAFFIC COUNTS: 70,000 + Cars Per Day PRICE PER ACRE: $213,675 ZONING: UTILITIES: LOCATION: COMMENTS: RC (Regional - Commercial): wide range of commercial uses Click here to view Zoning Ordinance Parcel is level and at street grade; all city utilities available Centrally located along the 198 Freeway serving the cities of Hanford, Lemoore, and Kings County s. The regions 150,000+ population is expected to grow to 200,000 by 2020. The property is situated at the SE quadrant of State Highway 198 and 12th Avenue in the City of Hanford, CA. There is a full interchange at 12th Avenue. Lemoore Naval Air Station is the largest master jet naval air station in the world and is designed to support more than 20 fleet carrier squadrons. Adventist Medical Center - Hanford is a part of the Seventh-day Adventist hospital system known as the Adventist Health/Central Valley Network, consisting of nineteen Adventist Health/Community Care clinics throughout a 2,500-square-mile region in the Central Valley. Located in the prime retail district, to the north major tenants are located including Hanford Mall, hotels, restaurants, Walmart and Home Depot. This is a high traffic location with excellent freeway visibility and access with strong frontage along Highway 198. 12th Avenue is an overpass over Highway 198, a full interchange, and main entrance point into Hanford. This is an excellent big-box site, shopping center, lodging, gas station, restaurant, auto mall, office park and freeway-oriented hotel.
Investment Highlights EXCELLENT FREEWAY EXPOSURE Located at Highway 198 and 12th Avenue with prime frontage with great access & exposure. HIGH TRAFFIC DEVELOPED AREA Over 70,000 cars per day including over 35,000 at 12th Avenue and Highway 198. TREMENDOUS STREET FRONTAGE The site includes ±770 lineal feet of freeway frontage at 12th Avenue. PRIME RETAIL AMENITIES Located in a prime retail district and situated near many existing housing developments. It s located near major corridors that service the airport, mall and downtown. ZONED RC - REGIONAL COMMERCIAL Currently zoned as RC - Regional Commercial allows a variety of uses including Retail Highway Commercial and Retail and Service Commercial. Excellent big box, shopping center or hotel site. LACEY BOULEVARD HANFORD ARMONA ROAD CENTENNIAL DRIVE 12 12 MALL DRIVE LACEY BOULEVARD HANFORD ARMONA ROAD 11 HUME AVENUE
Parcel Map 011-060-010 011-060-011 Parcel Numbers
Potential Development Options HANFORD PLANNING COMMITTEE STATE HIGHWAY 198 Gabrielle de Silva, Associate Planner City of Hanford 317 North Douty Street Hanford, CA 93230 30,000 SF 94,000 SF PARSONS STREET Direct: (559) 585-2578 E-mail: gdesilva@cityofhanfordca.com TDD/TYY, Dial 711 Click here to view Zoning Ordinance 12 STATE HIGHWAY 198 Option 1 5,600 SF 20,000 SF 25,000 SF 30,000 SF 88,560 SF PARSONS STREET Option 2 12 10,000 SF 15,000 SF 20,000 SF
PARSONS STREET 12 W HAYDEN AVENUE BENGSTON AVENUE
16.38 Acres {2 Parcels}
Land Comps ADDRESS SALE PRICE ACRES PRICE/SF ACRE BUYER ZONING SALE DATE 201 West Fresno Street Fowler, CA 93625 $3,375,000 16.11 $4.81/SF David Larsen C-2 09/15/2014 Cousins Drive Hanford, CA 93230 $2,220,000 7.70 $6.56/SF David Larsen N/A 10/30/2015 Multi-Property 701 East Cartmill Avenue Tulare, CA 93274 $4,011,876 10.00 $9.21/SF Bethel Family Worship Center Community Commercial 02/21/2011 Glendale and 12th Avenue Hanford, CA 93230 $601,500 1.46 $9.46/SF Anand Hospitality S-C 08/27/2015 No Photo Available Hayden and 12th Avenue Hanford, CA 93230 $1,017,000 2.91 $8.04/SF Boos-Hanford, LLC S-C 10/2014
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Location Overview Hanford is located 30 miles Southwest of Fresno, and 75 miles Northwest of Bakersfield. Hanford is the county seat for Kings County, and has a population of over 50,000 people. Kings County is primarily an agricultural county, with crop production valued at $1.44 billion in 2008. Milk, cotton, cattle and alfalfa production top the list of agricultural production. Hanford is a major trading center serving the surrounding agricultural area. According to the California Employment Development Department, most residents of the Hanford-Corcoran Metropolitan Statistical Area were employed in services (31,000 employees), government (14,400 employees) and farming (6,400 employees) as well as in some manufacturing enterprises (5,700 employees). The U.S. Navy s largest master jet base is located Lemoore, West of Hanford. This base employs 1,400 people. Other large employers in the county are Del Monte Foods with 1,400 employees, Adventist Health with 890 employees, and J.G. Boswell Co. with 1,200 employees.
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Demographics Population 1 Mile 3 Mile 5 Mile 2017 Total Population: 9,843 53,871 69,086 2022 Population: 10,177 55,359 71,092 Pop Growth 2017-2022: 3.39% 2.76% 2.90% Average Age: 31.30 33.40 33.90 Households 2017 Total Households: 2,719 16,902 22,208 HH Growth 2017-2022: 3.31% 2.75% 2.93% Median Household Inc: $43,086 $50,423 $54,654 Avg Household Size: 3.50 3.10 3.10 2017 Avg HH Vehicles: 2.00 2.00 2.00 Housing Median Home Value: $183,307 $211,783 $229,109 Median Year Built: 1983 1978 1982 Traffic Counts Collection Street Cross Street Traffic Volume 12th Avenue Mall Drive 17,541 12th Avenue Hanford Armona Road 12,301 S 12th Avenue Woodland Drive 12,744 State Highway 198 12th Avenue 35,046 State Highway 198 12th Avenue 30,572 Mall Drive 12th Avenue 11,704 Hanford Armona Road Wren Drive 9,072 State Highway 198 South 11th Avenue 28,121
CENTENNIAL DR LACEY BLVD 12TH ST HANDFORD MALL MALL DR ADVENTIST MEDICAL M E D I L CENTERC E N T E R CAMPUS DR 7TH ST GLENDALE AVE 12TH ST
KIPP GSTETTENBAUER, CCIM Senior Vice President 858.458.3345 kipp@voitco.com Lic. #01405420 RYAN KING, CCIM Vice President 858.458.3322 rking@voitco.com Lic. #01885401 VOIT REAL ESTATE SERVICES 4747 Executive Drive, Suite 800 San Diego, CA 92121 858.453.0505 858.408.3976 fax Lic: #01991785 www.voitco.com Licensed as Real Estate Brokers by the CA Bur of Real Estate. The information contained herein has been obtained from sources we deem reliable. While we have no reason to doubt its accuracy, we do not guarantee it. 2017 Voit Real Estate Services, Inc. All Rights Reserved. Real People. Real Solutions. is a registered trademark of Voit Real Estate Services.