Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Hemet Retail Opportunity Title is generated by Realmo AI

    1153 South State Street, Hemet, CA 92545

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Retail property in Hemet, Southern California's Inland Empire.

    Type:Retail, Business for Sale
    Property size:
    15,400 SF
    Price / SF:
    $225/SF
    Added:
    May 21, 2026
    Days on Market:
    8
    Last Refresh:
    May 27 at 8:18 am

    Property Features for 1153 South State Street

    General Information

    Standard status
    Active
    Size
    15,400 SF
    Property subtype
    Retail, Business for Sale

    We can help!

    Listing Contact
    Janet Kramer
    Janet Kramer

    Listing agent Janet Kramer License #CA 01351570

    Listing office SVN INSIGHT COMMERCIAL RE ADVISORS

    Listing date May 21, 2026

    Source Crexi

    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

    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.
    • Access to recreational amenities including hiking, golf, and Diamond Valley Lake.
    • Attractive to families and retirees seeking value and quality of life.
    • Diverse workforce for businesses.

    Overview

    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.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $2.45M
    NOI $220,740 @ 9.00% cap · cautious / downside scenario
    Moderate
    $3.15M
    NOI $220,740 @ 7.00% cap · market / base-case scenario
    Aggressive
    $4.41M
    NOI $220,740 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $332.6k $21.60
    − Vacancy −$17.3k −$1.12
    EGI $315.3k $20.48
    − OpEx −$94.6k −$6.14
    NOI $220.7k $14.33
    15,400 SF · lease $21.60/SF/yr · vacancy 5.20% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $3.15M
    $2.76M – $3.68M (±1% cap)
    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 (±1% cap)
    NOI $322,951 @ 7.0% cap · market cap 9.32%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    MegaBites Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hemet
    County
    Riverside
    State
    California
    Longitude
    -116.97311
    Latitude
    33.767361

    Nearby Similar for Sale

    • $998,000
      4,138 SF

      Updated Hemet Quadruplex Investment Opportunity

      Four-unit property with garages, yards, and strong income potential.
      962 Monarch, Hemet, CA 92543
      View Details
    • $300,000

      Established Restaurant Business Opportunity

      Restaurant business with high-traffic location and established brand recognition.
      41831 E Florida Avenue, Hemet, CA 92544
      View Details
    • $836,000
      4,800 SF

      Hemet Commercial Property For Sale

      Commercial property in a prime location with immediate rental income.
      280 N San Jacinto Street, Hemet, CA 92543
      View Details
    • $998,000
      4,138 SF

      Updated Hemet Quadruplex Investment Opportunity

      Updated quadruplex with strong investment potential in a growing market.
      962 Monarch, Hemet, CA 92543
      View Details
    • $2,085,000
      7,689 SF

      Hemet Commercial Property For Sale

      Commercial property with shop and office space in Hemet, CA.
      3630 E Florida, Hemet, CA 92544
      View Details
    • $1,600,000
      10,660 SF

      Income-Producing Commercial Property Opportunity

      High-visibility commercial property with diversified revenue and growth potential.
      162 N San Jacinto St, Hemet, CA 92543
      View Details
    • $535,000
      2,240 SF

      Spacious Duplex in Hemet, CA

      Hemet duplex with two units, garages, and yards.
      41844 Briarwood Avenue, Hemet, CA 92544
      View Details
    • $99,999

      Hemet RV Lot with Utilities

      Improved RV lot in 55+ resort community with amenities.
      1295 S Cawston Ave 1295, Hemet, CA 92545
      View Details
    • $1,500,000
      3,219 SF

      Hemet Retail Opportunity on Corner

      3,219 SF retail building on a signalized corner.
      103 E Stetson Avenue, Hemet, CA 92543
      View Details
    • $209,900
      820 SF

      Hemet Income-Producing Single Family Residence

      Single-family home in Hemet, CA, currently rented for immediate income.
      2174 Avenida Olivos, Hemet, CA 92545
      View Details
    • $2,500,000
      6,235 SF

      Operating Hotel in Hemet, CA

      Operating hotel for sale, great investment property, seller financing.
      475 N San Jacinto, Hemet, CA 92543
      View Details
    • $2,085,000
      7,600 SF

      Retail and Office Space Available

      Retail and office space on 1.86 acres with dual entrance.
      3630 E Florida, Hemet, CA 92544
      View Details

    FAQs

    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.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Janet Kramer
    Janet Kramer
    Real Estate License ID: CA 01351570
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1153 South State Street, Hemet, CA 92545
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!