Active

1995 2095 E Florida Avenue

Hemet CA, 92544

$7,350,000


$126.65 per sqft

Active

58,035 sqft

Commercial

Built in 1986

Listed by ALBERT LE with LE INVESTMENT GROUP 909-256-7889

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.

IV23116736

MLS ID

June 1, 2023

Listed

March 28, 2024

Updated

Map

1995 2095 E Florida Avenue
Hemet CA, 92544

Interior Features

Total Stories

1


Laundry Description

None


Fireplace

No


Cooling

No


Heating

No


Heating Description

None

Exterior/Building Features

Lot Size

4.56 Acres


Lot Features

Corner Lot

Other Property Details

Area Name

699 - Not Defined


Days on Market

215


Garage

No


View

No


County

Riverside


Water Source

Public


Pool

No


Buyer Agency Compensation

1.5%

Listing Contact: 909-256-7889 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/28/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/28/2024 at 3:23 PM UTC

 

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