Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    147 N Alessandro St Hemet, CA 92543

    View on Map
    Sponsored
    For Sale
    $138,000

    Land/Lot - Hemet, CA

    Lot size:
    9,148.00 Acres
    Days on Market:
    951
    Last Refresh:
    Mar 15 at 4:06 pm

    Property Features for 147 N Alessandro St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R3
    APN
    443222013
    Exterior features
    Fence, Community Features Included: Sidewalks, Street Lights
    Fencing
    Fenced
    Lot size
    9,148.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Brian Riesenberg

    Keller Williams - Temecula Valley (951) 304-1200

    Listing agent Brian Riesenberg (951) 304-1200 License #01314281

    Listing date Aug 8, 2023

    MLS# SW23145181 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Hemet Land with Building Potential

    Two adjacent parcels are included in the sale. One parcel, located at 147 N Alessandro, has an area of 6,534 square feet with lot dimensions of 43 feet by 134 feet. The other parcel, located at 151 N Alessandro, has an area of 2,178 square feet with lot dimensions of 50 feet by 54 feet. Both parcels are zoned R3. Sewer is stubbed inside the property line, and a water box is inside the property ready for a meter. Gas and electricity are available in the street.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hemet
    County
    Riverside
    State
    California
    Longitude
    -116.974165
    Latitude
    33.7488

    Nearby Similar for Sale

    • $836,000
      4,800 SF

      Hemet Commercial Property For Sale

      Commercial property in a prime location with immediate rental income.
      280 N San Jacinto St, Hemet, CA 92543
      View Details
    • $2,085,000
      7,689 SF

      Hemet Commercial Property For Sale

      Commercial property with shop and office space in Hemet, CA.
      3630 E Florida Ave, Hemet, CA 92544
      View Details
    • $2,500,000

      Hemet Church and Housing Opportunity

      5.49 acres with facilities, potential for affordable housing development.
      600 East Mayberry Ave, Hemet, CA 92543
      View Details
    • $1,590,000
      Pending

      Hemet Restaurant with Liquor License

      Freestanding, fully renovated restaurant with new equipment and liquor license.
      2020 E Florida Ave, Hemet, CA 92544
      View Details
    • $465,000
      1,458 SF

      Mixed-Use Property in Hemet, CA

      Commercial and residential mixed-use property available in Hemet, California.
      362 S Alessandro St, Hemet, CA 92543
      View Details
    • $450,000
      1,458 SF

      Hemet Duplex with Upside Potential

      Well-maintained duplex in Hemet with long-term tenants.
      358 S Alessandro St, Hemet, CA 92543
      View Details
    • $535,000
      2,080 SF

      Hemet Quadruplex Investment Opportunity

      Well-maintained fourplex with strong cash flow potential in Hemet, CA.
      229 S Carmalita St, Hemet, CA 92543
      View Details
    • $535,000
      2,240 SF

      Spacious Duplex in Hemet, CA

      Hemet duplex with two units, garages, and yards.
      41844 Briarwood Ave, Hemet, CA 92544
      View Details
    • $915,000
      2,916 SF

      Hemet Quadruplex For Sale

      Quadruplex in Hemet, CA. Refer to MLS# SW26041282 for details.
      358 S Alessandro St S, Hemet, CA 92543
      View Details
    • $56,500
      2,614.00 Acres

      Oversized Lot in 55+ Community

      Premium lot in Mountain Shadows resort community with amenities.
      1295 S Cawston Ave, Hemet, CA 92545
      View Details
    • $836,000

      Prime Retail Investment Opportunity

      High-visibility commercial property with immediate rental income potential.
      280 N San Jacinto St, Hemet, CA 92543
      View Details
    • $58,000
      2,178.00 Acres

      Premium RV Lot in Hemet

      Rare, oversized RV lot in a 55+ gated community.
      1295 S Cawston Ave, Hemet, CA 92545
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Two adjacent R3 zoned parcels ready for development in Hemet.
    Where is this residential land & home lot located?
    The property is located at 147 N Alessandro St Hemet, CA.
    What is the asking price?
    The asking price for this property is $138,000.
    What are key features of this property?
    This property features: - Two adjacent parcels included in the sale.; - Zoned R3, allowing for multi-family development.; - Sewer stubbed inside the property line.
    (951) 837-5782
    Request Owner's contact information
    147 N Alessandro St Hemet, CA 92543
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    147 N Alessandro St
    Hemet, CA 92543
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    147 N Alessandro St Hemet, CA 92543
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Brian Riesenberg
    Real Estate License ID: 01314281
    (951) 837-5782 (951) 304-1200 (619) 200-8284
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!