1995 2095 E Florida Avenue
Hemet, CA 92544
Active for $7,350,000
Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 198,634 sqft
| MLS | IV23116736 |
| Year Built | 1986 |
| Property Type | Retail |
| County | Riverside |
| Status | Active |
| Active | $7,350,000 |
| Structure Size | N/A sqft |
| Lot Size | 198,634 sqft |
| Beds | N/A |
| Baths | N/A |
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 “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.
Listing information courtesy of: ALBERT LE, LE INVESTMENT GROUP . *Based on information from the Association of REALTORS/Multiple Listing as of 11/22/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Robbyn Battles
Broker Associate
Direct: 818.388.1631
Email: Email Me
DRE: 00984070
DRE #01873088
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