Hemet Retail
1153 South State Street Hemet, CA 92545
For Sale
Contact for pricing
Retail property in Hemet, Southern California's Inland Empire.
Property Size15,400 SF
Price / SF$225
Days on Market67
Property Features for 1153 South State Street
General Information
- Standard status
- Active
- Size
- 15,400 SF
- Property subtype
- Retail, Business for Sale
Listing Agency:
SVN INSIGHT COMMERCIAL RE ADVISORS
Listed By:
Janet Kramer · License #CA 01351570
Source:
Crexi
Added: May 21
Changed: Jul 10
Last Checked: Jul 26 at 5:28AM
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 For Retail
Simulate Cap Rate and NOI
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.
| 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 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
MegaBites
Restaurant
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.
