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$7,350,000
504 Days On Site

1995 E Florida Avenue
Hemet, CA 92544

For Sale|Retail|Active
0
Beds
0
Full Baths
0
Partial Baths
58,035
SqFt
$127
/SqFt
1986
Built
County:
Riverside
Listed by ALBERT LE of LE INVESTMENT GROUP [email protected]

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1995 E Florida Avenue1995 E Florida Avenue1995 E Florida Avenue1995 E Florida Avenue
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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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Listing Snapshot
Price 
$7,350,000
Days On Site 
504 Days
Bedrooms 
N/A
Inside Area (SqFt) 
58,035 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
4.56 Acres
Year Built 
1986
MLS® Number 
IV23116736
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
a year agoStatus changed to Active
a year agoListing updated with changes from the MLS®
a year agoListing first seen on site
General Features
Acres 
4.56
Number Of Stories 
1
Property Sub Type 
Retail
Special Circumstances 
Standard
SqFt Total 
58035
Water Source 
Public
Interior Features
Laundry Features 
None
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Exterior Features
Lot Features 
Corner Lot
Community Features
Financing Terms Available 
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MLS Area 
699 - Not Defined
1995 E Florida Avenue, Hemet, CA, 92544 Pezzini Luxury Homes

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. The 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.

Neighborhood & Commute
Source: Walkscore
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