1995 2095 E Florida Avenue Hemet, CA $ 7,350,000
1995 2095 E Florida Avenue
$ 7,350,000
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1995 2095 E Florida Avenue

Hemet, CA, 92544
$ 7,350,000
Baths0.0 Sq 58,035

Monthly Estimate*

$ 51,342

Listed by LE INVESTMENT GROUP
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Studio

Commercial Property for sale in Hemet, CA

for $7,350,000. This 58,035 square foot building was built in 1986 on a lot size of 4.56.

Highlights; Unparalleled Current Cap Rate of 6.83%. Owner Recently Executed a New 5 Year Lease With Built-in Rental Increases for Discount Retailer / The offering represents a true value-add asset, with below market rents & month-to-month tenants / Property wide rents average $0.98 PSF/month. / Signalized Corner Lot Anchored by New Taco Bell(NAP) / Neighboring Rental Comparables Illustrate a 90% -95% Occupancy Market Area. Property has tremendous upside with ProForma CAP Rate of 8.08%. DRIVE BY ONLY PLEASE DO NOT DISTURB THE TENANTS. Hemet Town Plaza (the “Property”), a 58,035 SF singles tory, multi-tenant center located in the city of Hemet, Riverside County, California. The property is ideally located on Florida Avenue a major regional thoroughfare for the immediate trade area. The plaza consists of four separate buildings, situated on (3) parcels, totaling 4.56-acres. The property configuration, visibility, zoning, ample parking, available suites ranging from 750-7,275 Sq. Ft. and strategic location, all contribute, to make the Hemet Town Plaza an ideal location for a diverse tenant base. Surrounding retail properties demonstrate a constant growing market and operate at nearly a 95% occupancy rate. The property is currently 88%+/- occupied with tremendous upside upon leasing out vacant space. The offering represents a true value-add asset, with below market rents, month-to-month tenants and a rare opportunity to reposition a pad building, with a premium location, on Florida Avenue frontage. Potential investor shave the opportunity to produce significant cash-flow, through aggressive management, marketing, continued rehabilitation and stabilization of the asset.

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Commercial Active

Price

$ 7,350,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 0

Style

Retail

Lot Size

4.56

Year Built

1986

Town/City

Hemet

County/Region

Riverside

MLS | Web ID

IV23116736

Days on Market

328

Features
General
Heating None
Year Built 1986
Property SubType Retail
Additional Parcels Description 445280039 445280041
County Riverside
Net Operating Income 502180.0
Operating Expense 131404.0
Insurance Expense 12500.0
New Construction N
Property Type CommercialSale
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions East Florida Ave 1995-2095 E Florida Ave.
City Hemet
View Y/N N
Senior Community Y/N N
MLS Area 699 - Not Defined
Lot Size Square Feet 198633.6
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Florida
Listing Terms Submit
Property Attached Y/N N
Land Lease Y/N N
Electric Expense 11000.0
Home Warranty Y/N N
Current Financing Conventional
Trash Expense 11000.0
Water Sewer Expense 11000.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 215
Building Area Units SquareFeet
Standard Status Active
Occupancy Type Tenant
Property Sub Type Additional Retail
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Exterior
Lot Features CornerLot
Water Source Public
Lot Size Area 4.56
Number of Buildings 3
Spa N
Building Area Total 58035.0
Lot Size Acres 4.56
Lot Size Units Acres
Lot Size Source Assessor
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Total Stories 1
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Street Suffix Avenue
Laundry Features None
Entry Level 1
Electric On Property Y/N N
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Internal Only
Street Number 1 1995
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* Excluded Features
List By
Le Investment Group

Broker

(909) 256-7889

Phone

Affordability Calculator

$51,342
Per Month
100%
0%
0%
Monthly Principal & Interest
$51,342
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
6/30/2023$7,350,000 Listed Price

Map


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1995 2095 E Florida Avenue, Hemet, CA, 92544 is a Commercial Property for sale at $7,350,000 with 58,035 sqft and a lot size of 4.56. 1995 2095 E Florida Avenue is a studio with 0.0 baths and was built in 1986. The property's zip code is 92544 which is in Hemet, CA