Turnkey Medical/Dental Building in
For Sale
Contact for pricing
1020 E Florida Ave, Hemet, CA 92543
Turnkey medical/dental building on main boulevard, ready for immediate operation.
Property Size1,750 SF
Lot Size0.14 Acres
Price / SF$393.71
Days on Market198
Property Features for 1020 E Florida Ave
General Information
Standard status
Active
Size
1,750 SF
Class
C
Lot size
0.14 Acres
Property subtype
Office
Zoning
C-1
Occupancy
100%
Building Details
Year Built
1922
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
KW Commercial
Listed By:
Manal Hamad · License #02228282
Source:
Crexi
Added: Feb 3
Changed: Aug 8
Last Checked: Aug 19 at 6:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial
Investment Insights
Based on property information with market context.
This commercial building is a turnkey standalone medical/dental building located on a main boulevard in Hemet. The property, offered at 689K, sits on an approximate 6175 square foot lot and features excellent visibility and signage along one of Hemet's main streets. Zoned C-1, the property supports a wide range of commercial and professional uses, including medical, dental, and med-spa. The building is fully built out for dental use and in turnkey condition, featuring seven exam rooms, a dedicated X-ray room, break room, and an efficient clinical layout designed for immediate operation. It is ideal for an owner-user seeking a plug-and-play medical location. The building is currently operating as a dental office. The dental practice may be purchased separately for $300,000, or both the real estate and dental practice may be purchased together for a total of $899,000. This 1750 square foot facility presents a rare opportunity to acquire a turnkey medical/dental facility in a growing Hemet corridor with long-term demand for healthcare services.
Key Highlights
- Turnkey medical/dental building ready for immediate operation.
- Zoned C‑1, supporting a wide range of commercial and professional uses (medical, dental, med‑spa).
- Excellent visibility and signage on a main boulevard in Hemet.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,495
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$549,900
$549.9K
Cap Rate 7%
$392,786
$392.8K
Cap Rate 9%
$305,500
$305.5K
Market Conditions
NOI Build-Up for 1,750 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.1K $22.92/SF
− Vacancy
−$3.4K −$1.97/SF
EGI
$36.7K $20.95/SF
− OpEx
−$9.2K −$5.24/SF
NOI
$27.5K $15.71/SF
Area
Riverside County, CA
Vacancy
8.60%
Lease Rate
$22.92 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$549,900
Cap Rate 7%
$392,786
Cap Rate 9%
$305,500
Alternative Uses
Best Use
Office B
$392.8K
$343.7K – $458.3K
NOI $27,495 @ 7.0% cap · market cap 3.99%
Second Best
Healthcare Medical
$254.2K
$222.4K – $296.6K
NOI $17,793 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$524.3K
$458.7K – $611.7K
NOI $36,699 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,872
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92543, CA
39,323
Population
15,225
Households
2.6
Avg Household Size
37
Median Age
13%
College-Educated
75%
High-School Grad
19.1 sq mi
ZIP Area
2,059
Density / Sq Mi
$47,002
Median Household Income
$34,376
Median Earnings
$1,306
Median Rent
$250,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey medical/dental building on main boulevard, ready for immediate operation.
Where is this medical office space located?
The property is located at 1020 E Florida Ave Hemet, CA.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: Turnkey medical/dental building ready for immediate operation.; Zoned C‑1, supporting a wide range of commercial and professional uses (medical, dental, med‑spa).; Excellent visibility and signage on a main boulevard in Hemet.
