Hemet Retail
For Sale
Contact for pricing
1153 South State Street, Hemet, CA 92545
Retail property in Hemet, Southern California's Inland Empire.
Property Size15,400 SF
Price / SF$225
Days on Market98
Property Features for 1153 South State Street
General Information
Standard status
Active
Size
15,400 SF
Property subtype
Retail, Business for Sale
Investment Type
Owner/User
Listing Agency:
SVN INSIGHT COMMERCIAL RE ADVISORS
Listed By:
Janet Kramer · License #CA 01351570
Source:
Crexi
Added: May 21
Changed: Aug 25
Last Checked: Aug 24 at 11:28PM
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 SVN INSIGHT COMMERCIAL RE ADVISORS
Investment Insights
Based on property information with market context.
Located in the heart of Southern California's Inland Empire, Hemet offers a combination of affordability, accessibility, growth potential and quality of life. The city has become increasingly attractive to businesses, investors, families and retirees seeking value and opportunity within reach of major Southern California markets, such as Riverside, Temecula, San Diego and Palm Springs. Surrounded by scenic mountains and Diamond Valley Lake, Hemet residents enjoy nearby recreational amenities including hiking, golf, and lake access. Businesses benefit from a diverse workforce and the ability to attract employees seeking more affordable living options. The property has a size of 15400 square feet.
Key Highlights
- Affordable living within reach of major Southern California markets.
- Located in Hemet, in the heart of Southern California's Inland Empire.
- Growth potential for businesses and investors.
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
$220,740
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
6.37%
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%
$4,414,800
$4.4M
Cap Rate 7%
$3,153,429
$3.2M
Cap Rate 9%
$2,452,667
$2.5M
Market Conditions
NOI Build-Up for 15,400 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
$332.6K $21.60/SF
− Vacancy
−$17.3K −$1.12/SF
EGI
$315.3K $20.48/SF
− OpEx
−$94.6K −$6.14/SF
NOI
$220.7K $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%
$4,414,800
Cap Rate 7%
$3,153,429
Cap Rate 9%
$2,452,667
Alternative Uses
Best Use
Retail
$3.15M
$2.76M – $3.68M
NOI $220,740 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.61M
$4.04M – $5.38M
NOI $322,951 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
13k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 96%
Shops & Services 4%
Farmer Boys
Dining
12,527 visits/mo
0.5 miles
US Storage Centers
Shops & Services
543 visits/mo
0.2 miles
Demographics for 92545, CA
44,072
Population
17,533
Households
2.5
Avg Household Size
45
Median Age
17%
College-Educated
84%
High-School Grad
29.7 sq mi
ZIP Area
1,484
Density / Sq Mi
$59,575
Median Household Income
$41,732
Median Earnings
$1,778
Median Rent
$334,900
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Retail property in Hemet, Southern California's Inland Empire.
Where is this retail property located?
The property is located at 1153 South State Street Hemet, CA.
What is the asking price?
The asking price for this property is $3,465,000.
What are key features of this property?
This property features: Affordable living within reach of major Southern California markets.; Located in Hemet, in the heart of Southern California's Inland Empire.; Growth potential for businesses and investors.
