High-traffic location, versatile space, great potential.
Property size:
6,000 SF
Description
Added:
Feb 3, 2025
Days on Market:
316
This exceptional mixed-use property, located at 135 Avenue in Historic Downtown Hemet, California, presents a unique investment opportunity. Boasting 6,000 square feet on a 1.21-acre lot, this building enjoys prime visibility on Highway 74 (Florida Avenue), at the southwest corner of Harvard and Florida Avenues. Daily traffic counts range from 60,000 to 80,000 vehicles, ensuring high exposure for any business. The main level comprises 4,500 square feet of interior space, featuring offices and restrooms conveniently situated along the perimeter. A substantial rear parking lot provides ample space for customers and employees. Its strategic location next to a thriving sports bar and pool hall further enhances its appeal. The property's zoning allows for diverse uses, including restaurants, retail, distribution centers, call centers, and entertainment venues. An additional 2,000 square feet of space is available upstairs, separately, and could potentially be used as living quarters, given the downtown zoning. The upstairs also includes two restrooms. The building's history includes a period as a bank and later a lounge. Exterior features include a beautiful large cement patio, a lawn, and historic palm trees wrapping around the corner. The City of Hemet's initiative to support the development of commercial kitchens in the downtown area makes this property particularly attractive. Furthermore, a significant development project across the street, encompassing a four-story theater with entertainment, dining, and recreation options, is planned around the existing Historic Hemet Theater, promising increased foot traffic and enhanced neighborhood vibrancy. The asking price is $4,200.
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135 Ave Hemet, CA 92543
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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.
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
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135 Ave Hemet, CA 92543
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135 Ave, Hemet, CA
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