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 29, 2023
Listed
October 17, 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
411
Garage
No
View
No
County
Riverside
Water Source
Public
Pool
No
Listing Contact: 909-256-7889
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/17/2024. 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.
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Data last updated on 10/17/2024 at 10:08 AM UTC