Hemet, CA 92544 1995 2095 E Florida Avenue

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Presented By: ALBERT LE with LE INVESTMENT GROUP; 909-256-7889
  • MLS# IV23116736
  • 06/29/2023
  • Request Tour
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  • FootageSQFT • 58,035

Home Details

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.
Presented By: ALBERT LE with LE INVESTMENT GROUP; 909-256-7889

Interior Features for 1995 2095 E Florida Avenue

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesNone
Street SuffixAvenue
Total Stories1

Other Rooms

Entry Level1

General for 1995 2095 E Florida Avenue

Additional Parcels Description445280039, 445280041
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Carport Y/NNo
CityHemet
CountyRiverside
Current FinancingConventional
Days on Market215
DirectionsEast Florida Ave 1995-2095 E Florida Ave.
Electric Expense11000.0
Garage Y/NNo
HOA / Comm AssnNo
HeatingNone
Home Warranty Y/NNo
Insurance Expense12500.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsSubmit
Lot Size Square Feet198633.6
MLS Area699 - Not Defined
MaintenanceExpense21511.0
MobileHomeRemainsYNNo
Net Operating Income502180.0
New ConstructionNo
Occupancy DescriptionTenant
Operating Expense131404.0
Private PoolNo
Property Attached Y/NNo
Property Sub Type AdditionalRetail
Property SubTypeRetail
Property TypeCommercialSale
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameFlorida
Trash Expense11000.0
View Y/NNo
Water Sewer Expense11000.0
Waterfront Y/NNo
Year Built1986

Exterior for 1995 2095 E Florida Avenue

Building Area Total58035.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesCornerLot
Lot Size Acres4.56
Lot Size Area4.56
Lot Size SourceAssessor
Lot Size UnitsAcres
Number of Buildings3
Open Parking Y/NNo
SpaNo
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $7,350,000
MLS#IV23116736
List Date 06/29/2023
Property Type Commercial
Phone 714.964.3311
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