1709 Florida AveHemet, CA 92545

Property Details for 1709 Florida Ave

Year built

1969

Construction

TILT-UP CONCRETE

Lot size

1.91 AC

Property size (Sq ft)

40,000 SF

Zone code

CM

Property type

Retail properties

Property subtype

Strip malls

APN

448-460-008

APU

448460008

Description

This exceptional 1.25-acre commercial land parcel presents a remarkable investment opportunity in Hemet, California. Located at the southwest corner of Highway 79 and South Lyon Avenue, this fee-simple property boasts a highly desirable C-2 zoning designation, permitting a diverse range of commercial uses, including restaurant, retail, and medical facilities. Situated within the established Towne House Plaza, this pad site benefits from reciprocal parking and convenient access, ensuring ample parking for patrons and employees. The property's strategic location on Highway 79, a major thoroughfare with over 30,000 cars passing daily, guarantees high visibility and accessibility. The surrounding area is a thriving commercial hub, anchored by established businesses such as Walgreens, Harbor Freight, and DD's Discount, within a 100,000+ square foot shopping center. Hemet's robust economy, fueled by a growing population of retirees and young families, creates a strong and stable market for commercial ventures. The property's Assessed Parcel Number (APN) is 448-460-00. This prime location and flexible zoning make this 1.25-acre parcel an ideal site for a variety of commercial developments, offering significant potential for growth and return on investment. The asking price is $700,000. The address is 1709 W Florida Ave, Hemet, CA 92545.

• CAP approach

  CAP return

  Valuation

  6%

  $16,160,618

  6.5%

  $14,917,493

  7%

  $13,851,958

• Comparable approach

  Method

  Valuation

  Relative Method

  $17,682,588

  Geo Method

  $35,478,576

• Alternative Use

  Use

  Valuation

  Residential

  $12,583,464

  Hospitality

  $11,526,385

  Educational

  $9,589,817

  Medical

  $9,919,626

  Retail

  $14,917,493

Location Insight

City

Hemet

County

Riverside

State

California

Latitude

33.7459

Longitude

-116.99

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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