Flexible Office
New
For Sale
$359,000
1900 E Florida, Hemet, CA 92544
Configured with work areas, private offices, and a reception area for professional operations.
Property Size1,082 SF
Days on Market3
Property Features for 1900 E Florida
General Information
Standard status
Active
Size
1,082 SF
Property subtype
Commercial
Building Details
Building Size
1,082 SF
Year Built
1952
Listing Agency:
Keller Williams Realty The Lakes
Listed By:
Sofia Perla · License #01763659
(951) 258-5245
Source:
Elliman
Added: Sep 10
Last Checked: Sep 12 at 6:53AM
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 Keller Williams Realty The Lakes
Investment Insights
Based on property information with market context.
Built in 1952, this office property at 1900 E Florida Ave in Hemet offers an established commercial setting with a practical interior arrangement. The space includes multiple workstations, enclosed offices, and a reception area designed for customer-facing activity. Its adaptable configuration can accommodate professional office or service-oriented operations, subject to applicable requirements.
The building fronts E Florida Ave and is positioned among established businesses and residential neighborhoods. Walk Score is 38 and bikeScore is 43, with the property characterized as car-dependent and somewhat bikeable, respectively.
The building fronts E Florida Ave and is positioned among established businesses and residential neighborhoods. Walk Score is 38 and bikeScore is 43, with the property characterized as car-dependent and somewhat bikeable, respectively.
Key Highlights
- Office building constructed in 1952
- Multiple workstations provide an established working layout
- Private office areas included
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
$17,000
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
4.74%
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%
$340,000
$340.0K
Cap Rate 7%
$242,857
$242.9K
Cap Rate 9%
$188,889
$188.9K
Market Conditions
NOI Build-Up for 1,082 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
$24.8K $22.92/SF
− Vacancy
−$2.1K −$1.97/SF
EGI
$22.7K $20.95/SF
− OpEx
−$5.7K −$5.24/SF
NOI
$17.0K $15.71/SF
Area
Riverside County, CA
Vacancy
8.60%
Lease Rate
$22.92 /SF/Yr
Expense Ratio
25.00%
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%
$340,000
Cap Rate 7%
$242,857
Cap Rate 9%
$188,889
Alternative Uses
Best Use
Office B
$242.9K
$212.5K – $283.3K
NOI $17,000 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$324.1K
$283.6K – $378.2K
NOI $22,690 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,216
Businesses Nearby
Explore this area
Business Placement
Demographics for 92544, CA
50,007
Population
17,568
Households
2.8
Avg Household Size
37
Median Age
14%
College-Educated
81%
High-School Grad
170.8 sq mi
ZIP Area
293
Density / Sq Mi
$67,011
Median Household Income
$37,785
Median Earnings
$1,530
Median Rent
$356,200
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Configured with work areas, private offices, and a reception area for professional operations.
Where is this office building located?
The property is located at 1900 E Florida Hemet, CA.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Office building constructed in 1952; Multiple workstations provide an established working layout; Private office areas included
