For Sale
$699,900

1101 Florida AveHemet, CA 92543

Prime Hemet location, high ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 13,939 square foot commercial lot in Hemet, California, situated on a high-traffic corner. The property includes a single-story building, constructed in 1963, encompassing 3,804 square feet of net rentable space divided into two units. Currently, 75% of the space is occupied by a bar/restaurant, generating a current NOI of $23,900. The property boasts a pro-forma NOI of $73,776, reflecting significant upside potential by leasing the remaining vacant space at market rates. The sale includes 20 parking spaces. The lot is zoned C1 and offers a land value of $1.75 per square foot. The asking price is $699,900, representing a current cap rate of 3.41% and a pro-forma cap rate of 10.54%. The existing tenant is on a month-to-month lease, and the property is being sold as-is. The buyer assumes responsibility for the existing tenant; please do not disturb the tenant. This is a rare opportunity to acquire a well-located commercial property with substantial income potential in a thriving market. The property's address is 1101 W Florida Ave, Hemet, CA 92543. The APN is 442-100-010.

Highlights

  • 13,939 SF commercial lot in a high-traffic Hemet corner.
  • Single building with 3,804 SF of leasable space, divided into two units.
  • Existing bar/restaurant tenant generates consistent income.
  • Significant ROI potential by fully leasing available space at market rates.
  • As-is sale; buyer assumes existing month-to-month tenancy; do not disturb tenant.

Property Details for 1101 Florida Ave

Property type
Retail properties, Bars
Square Feet
13,939 SF
Year Built
1963
Buildings
1
Stories
1
Units
2

Location Insight

City
Hemet
County
Riverside
State
California
Latitude
33.7472618
Longitude
-116.9827357
1101 Florida Ave, Hemet, California

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1101 Florida Ave
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