Multi-Tenant Shopping
For Sale
$1,195,000
910 East Florida Ave, Hemet, CA 92543
Individual commercial suites create a flexible tenant configuration with on-site parking in Hemet.
Property Size4,540 SF
Price / SF$263.22
Days on Market11
Property Features for 910 East Florida Ave
General Information
Standard status
Active
Size
4,540 SF
Total Parking Spaces
17
Property subtype
Retail
Building Details
Building Size
4,540 SF
Year Built
1980
Tenancy
Multi
Listing Agency:
(858) 261-1772
Listed By:
Michael Billings
(858) 261-1772
Source:
Svn
Added: Aug 20
Changed: Aug 30
Last Checked: Aug 30 at 6:03AM
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 Michael Billings
Investment Insights
Based on property information with market context.
Built in 1980, this multi-tenant shopping center at 910 East Florida Ave in Hemet, California, contains approximately 4,540 square feet of building area. The property is divided into nine individual commercial suites, providing separate spaces within one commercial property.
On-site parking includes approximately 17 open spaces, with designated handicap parking included. The property is offered as a commercial sale asset with an existing multi-suite configuration.
On-site parking includes approximately 17 open spaces, with designated handicap parking included. The property is offered as a commercial sale asset with an existing multi-suite configuration.
Key Highlights
- Approximately 4,540 square feet of building area
- Nine individual commercial suites
- Approximately 17 open parking spaces
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
$65,075
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
5.45%
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%
$1,301,500
$1.3M
Cap Rate 7%
$929,643
$929.6K
Cap Rate 9%
$723,056
$723.1K
Market Conditions
NOI Build-Up for 4,540 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
$98.1K $21.60/SF
− Vacancy
−$5.1K −$1.12/SF
EGI
$93.0K $20.48/SF
− OpEx
−$27.9K −$6.14/SF
NOI
$65.1K $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%
$1,301,500
Cap Rate 7%
$929,643
Cap Rate 9%
$723,056
Alternative Uses
Best Use
Retail
$929.6K
$813.4K – $1.08M
NOI $65,075 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,208 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,872
Businesses Nearby
Balanced
Demand for This Use
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.
Similar Off Market Nearby
- Sephora — Hemet, CA 92543
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- Hemet Swap Meet — 2275 E Florida Ave, Hemet, CA 92544
- Harvard District — N Harvard St, Hemet, CA 92543
Frequently Asked Questions
What type of property is this?
Shopping center - Individual commercial suites create a flexible tenant configuration with on-site parking in Hemet.
Where is this shopping center located?
The property is located at 910 East Florida Ave Hemet, CA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Approximately 4,540 square feet of building area; Nine individual commercial suites; Approximately 17 open parking spaces
