NN Leased Retail Bank Building For Sale

109 W 8th St Hanford, CA 93230

FOR SALE
Property Type:
Street Retail
Amount:
Please Call Broker for Price

Last Verified:
Sep 13, 2018

Highlights

  • Corporate Guarantee with Golden 1
  • Largest Credit Union in California ($10B in Assets)
  • Lease Originated 1999; Just Renewed Through 2023
  • Long Term Lease / 2.55% Annual Increases
  • Bank & Retail Suites Significantly Improved on Tenants Dime
  • All Banks Are Confined to Downtown Hanford Zoning
  • Fully Leased, Prime Location, High Traffic Area
  • 18 Parking Spaces + Public Lot + Street Parking
  • Surrounded by Quality Tenants
  • Great Signage with 88' Frontage on 8th Street (1 Curb Cut)

Description

Freestanding double net lease with 2.55% annual increases. Golden 1 has occupied the space since 1999 and just inked a fourth corporate guaranteed lease extension through 2023 with no termination clause. The tenant just completed a $90K+ remodel in 2015, showing their commitment to the market and location. The vibrant downtown of Hanford attracts various quality tenants surrounding the location bringing great synergy for Golden 1 to flourish. Well known and established Retail Bank building in a highly traveled area off the "Main and Main" of Downtown Hanford. Hanford's downtown zoning guarantees all bank buildings must be located within the downtown area. The second tenant, The Ladies Room, also just renewed for an additional 3 years through 7/2020. Each freestanding building has a functional floor plan that tenant has made substantial improvements to.

This property is located north of 7th Street, east of N Irwin Street, south of 8th Street and west of W Douty Street in Hanford, California.

Building Size: 4136.0sq ft
Lot Size: 0.11 acres

Map of 109 W 8th St, Hanford, CA, 93230

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