1687 E Florida Hemet, CA 92544
SINGLE_FAMILY - Hemet, CA
Property Features for 1687 E Florida
General Information
- Property type
- Residential
- Property subtype
- Retail
- Standard status
- Active
- APN
- 445270057
- Lot size
- 1.72 Acres
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1981
Listing agent Jigar Shah License #01116918 (714) 626-2000
Listing office Century 21 Discovery 1440 N Harbor Blvd., Suite 225, Fullerton, CA (714) 626-2000
Listing date Oct 6, 2025
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Investment Insights
Based on property information with market context.
Located at 1687 E Florida in Hemet, California, the property is positioned next to Jack in the Box and an Urgent Care Medical Center. This adjacent tenant mix supports a steady neighborhood-serving environment while keeping the building within a compact commercial setting.
For buyers seeking a NNN investment with an in-place tenant, the lease term through 9/30/2029 provides near-term continuity. The large land area also adds flexibility for future site planning, as indicated in the remarks. Overall, this is a straightforward single-tenant bank asset with a defined lease horizon and a site configuration that may accommodate additional development consideration.
Key Highlights
- Leased to Bank of America until 9/30/2029
- NNN lease structure
- Large parcel of land (approximately 75,000 sq ft) offering development opportunities
Local 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 | $339.1k | $21.60 |
| − Vacancy | −$17.6k | −$1.12 |
| EGI | $321.5k | $20.48 |
| − OpEx | −$96.4k | −$6.14 |
| NOI | $225.0k | $14.33 |
