$ 7,350,000
1995 E Florida Avenue Hemet, CA 92544
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 7,350,000
Est. payment /mo
Active
1995 E Florida Avenue Hemet, CA 92544
58,035 SqFt
UPDATED:
05/31/2024 10:40 PM
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 58,035 sqft
Price per Sqft $126
MLS Listing ID CRIV23116736
HOA Y/N No
Year Built 1986
Lot Size 4.560 Acres
Acres 4.56
Property Description
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 leasi
Location
State CA
County Riverside
Area Listing
Interior
Heating None
Fireplace No
Building
New Construction No
Others
Tax ID 445280038
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Listed by ALBERT LE • LE INVESTMENT GROUP