1995 2095 E Florida Avenue , Hemet, CA 92544
Hemet, CA 92544
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.
Details
| MLS# | IV23116736 |
|---|---|
| Listing Type | For Sale |
| Style | Retail |
| Sub-Type | Resale |
| Status | Active |
| Year | 1986 |
| Days On Site | 472 |
| Listing Provided By | LE INVESTMENT GROUP 909-256-7889 | ALBERT LE |
Features
| SQ Feet | 58,035 |
|---|---|
| Story(s) | 1 |
| Building(s) | 3 |
| Acreage | 4.56 |
Market Activity 92544
Request a showing
Request a showing
Contact
Learn More About This Property
| State | CA |
|---|---|
| County | Riverside |
| City | Hemet |
| Zip Code | 92544 |
| Area | 699 Not Defined |
| Listing VS Median (in 92544) | |
Price: $7,350,000 low | high Med: $450,000 SqFt: 58,035 low | high Med: 1,467 $ / SqFt: $127 low | high Med: $307 On Site: 472 low | high Med: 12.000000 | |
