CA > Hemet
Hemet, CA 92544,1995 2095 E Florida AVE
Hemet, CA 92544,1995 2095 E Florida AVE
Hemet, CA 92544,1995 2095 E Florida AVE
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$7,350,000
Est. payment /mo
4.56 Acres Lot
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UPDATED:

09/30/2024 06:42 PM

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

MLS Listing ID IV23116736

HOA Y/N No

Year Built 1986

Lot Size 4.560 Acres

Property 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.

Location

State CA

County Riverside

Area 699 - Not Defined

Interior

Heating None

Fireplace No

Laundry None

Building

Lot Description Corner Lot

Story 1

Water Public

Others

Tax ID 445280038

Acceptable Financing Submit

Listing Terms Submit

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by ALBERT LE • LE INVESTMENT GROUP • 909-256-7889

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