$ 7,350,000
1995 E Florida Avenue Hemet, CA 92544
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$ 7,350,000
Est. payment | /mo
58,035 SqFt
$ 7,350,000
Est. payment | /mo
58,035 SqFt
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 “Propertyâ€), 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
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by ALBERT LE • LE INVESTMENT GROUP
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Patrick Nagel
REALTOR® | Lic# 1760790