Mixed-Use Property with
For Sale
$610,000
1960 Florida, Hemet, CA 92544
Two-building property combines customer-facing commercial space, warehouse capacity, and a separate residence on a level lot.
Property Size2,000 SF
Price / SF$305
Days on Market10
Property Features for 1960 Florida
General Information
Standard status
Active
Size
2,000 SF
Property subtype
General Commercial
Additional Details
Road Access
Yes
Amenities
3
Level
Level.
Building Details
Year Built
1951
Buildings
2
Listing Agency:
Marin Realty Group
(951) 657-4400
Listed By:
Jose Marin · License #01753895
(951) 830-2967
Source:
Xome
Added: Aug 28
Changed: Sep 5
Last Checked: Sep 5 at 3:00PM
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 Marin Realty Group
Investment Insights
Based on property information with market context.
This mixed-use property includes two separate buildings designed around both business and residential functions. The commercial structure provides office and showroom areas at the front, with warehouse and storage space supporting inventory, equipment, and day-to-day operations. A separate two-bedroom, one-bath residence is positioned toward the rear of the property. The property size is 2,000, and the improvements date to 1951.
Located on Florida Avenue in Hemet, the site offers exposure along a main thoroughfare. The level lot provides space for vehicle parking and outdoor storage, adding practical utility for an owner-user or business operation. Buyers should verify zoning and permitted uses for their intended business.
Located on Florida Avenue in Hemet, the site offers exposure along a main thoroughfare. The level lot provides space for vehicle parking and outdoor storage, adding practical utility for an owner-user or business operation. Buyers should verify zoning and permitted uses for their intended business.
Key Highlights
- Two separate buildings on one property
- Commercial building includes office, showroom, warehouse, and storage areas
- Separate 2‑bedroom, 1‑bath residence
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
$31,423
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
5.15%
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%
$628,460
$628.5K
Cap Rate 7%
$448,900
$448.9K
Cap Rate 9%
$349,144
$349.1K
Market Conditions
NOI Build-Up for 2,000 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
$45.8K $22.92/SF
− Vacancy
−$3.9K −$1.97/SF
EGI
$41.9K $20.95/SF
− OpEx
−$10.5K −$5.24/SF
NOI
$31.4K $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%
$628,460
Cap Rate 7%
$448,900
Cap Rate 9%
$349,144
Alternative Uses
Best Use
Office B
$448.9K
$392.8K – $523.7K
NOI $31,423 @ 7.0% cap · market cap 5.15%
Second Best
Warehouse
$284.9K
$249.3K – $332.4K
NOI $19,943 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$599.2K
$524.3K – $699.0K
NOI $41,942 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building property combines customer-facing commercial space, warehouse capacity, and a separate residence on a level lot.
Where is this mixed-use property located?
The property is located at 1960 Florida Hemet, CA.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Two separate buildings on one property; Commercial building includes office, showroom, warehouse, and storage areas; Separate 2‑bedroom, 1‑bath residence
