Hemet Retail Opportunity on
For Sale
$1,500,000
103 E Stetson Ave, Hemet, CA 92543
3,219 SF retail building on a signalized corner.
Property Size3,219 SF
Lot Size0.31 Acres
Price / SF$465.98
Days on Market209
Property Features for 103 E Stetson Ave
General Information
Standard status
Active
Size
3,219 SF
Lot size
0.31 Acres
Building Details
Year Built
1976
Listing Agency:
Farnam & Associates Real Estate
Listed By:
Freshta Shalikar · License #01870152
(951) 348-7878
Source:
Myfabuloushome
Added: Mar 31
Changed: Oct 4
Last Checked: Oct 7 at 3:15PM
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 Farnam & Associates Real Estate
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Investment Insights
Based on property information with market context.
This 3,219 square-foot commercial retail building is located on a corner parcel at the signalized intersection of Stetson Avenue and State Street in Hemet, CA. Built in 1976 on a 0.31-acre lot, the single-story structure features central heating. The property has 25 parking spaces, which is 7.77 spaces per 1,000 SF leased. The property is located in an Opportunity Zone, potentially offering preferential tax treatment for investors. The zoning is C2 - General Commercial, allowing for a wide range of commercial uses. The location benefits from high visibility and accessibility on a major thoroughfare. The property is surrounded by established traffic generators, including Stater Bros, CVS Pharmacy, and Dollar General. The building was formerly a bank branch, potentially offering turn-key adaptability for various uses. It is suitable for a variety of uses, including retail owner-user, small investor, or even a food & beverage operation.
Key Highlights
- High Visibility & Accessibility at Signalized Intersection of Stetson Avenue and State Street.
- 25 Parking Spaces (7.77 spaces per 1,000 SF leased).
- Located in an Opportunity Zone, potentially offering preferential tax treatment.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,140
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$922,800
$922.8K
Cap Rate 7%
$659,143
$659.1K
Cap Rate 9%
$512,667
$512.7K
Market Conditions
NOI Build-Up for 3,219 SF
Gross rent
$69.5K $21.60/SF
− Vacancy
−$3.6K −$1.12/SF
EGI
$65.9K $20.48/SF
− OpEx
−$19.8K −$6.14/SF
NOI
$46.1K $14.33/SF
Area
Riverside County, CA
Vacancy
5.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$922,800
Cap Rate 7%
$659,143
Cap Rate 9%
$512,667
Alternative Uses
Best Use
Retail
$659.1K
$576.8K – $769.0K
NOI $46,140 @ 7.0% cap · market cap 3.08%
Second Best
Specialty Retail
$579.8K
$507.4K – $676.5K
NOI $40,588 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$964.4K
$843.8K – $1.13M
NOI $67,505 @ 7.0% cap · market cap 4.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
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
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Bank - 3,219 SF retail building on a signalized corner.
Where is this bank located?
The property is located at 103 E Stetson Ave Hemet, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: High Visibility & Accessibility at Signalized Intersection of Stetson Avenue and State Street.; 25 Parking Spaces (7.77 spaces per 1,000 SF leased).; Located in an Opportunity Zone, potentially offering preferential tax treatment.
