Hemet Retail Opportunity on
For Sale
$1,500,000
103 Stetson Avenue, 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 Market663
Property Features for 103 Stetson Avenue
General Information
Standard status
Active
Size
3,219 SF
Lot size
0.31 Acres
Property subtype
Retail
Amenities
3
Corner Lot.
Level
Corner, Level.
Building Details
Year Built
1976
Listing Agency:
DRE #01870152
(844) 432-7626
Listed By:
Freshta Shalikar · License #01870152
Source:
Xome
Added: Oct 23, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:40AM
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 DRE #01870152
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 = 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
$46,140
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
3.08%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
467
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 Stetson Avenue 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.
