Page Plaza Shopping
For Sale
Contact for pricing
3613 W Stetson Ave, Hemet, CA 92545
Shopping center featuring national tenants near a Walmart Supercenter.
Property Size58,359 SF
Price / SF$235.18
Days on Market139
Property Features for 3613 W Stetson Ave
General Information
Standard status
Active
Size
58,359 SF
Class
A
Property subtype
Retail
Occupancy
84%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$775,453
Building Details
Year Built
2009
Year Renovated
2026
Buildings
3
Stories
1
Units
9
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Orange County
Listed By:
Blake Davey · License #CA 01994926
Source:
Crexi
Added: Apr 14
Changed: Aug 29
Last Checked: Aug 29 at 8:02PM
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 Marcus & Millichap - Orange County
Investment Insights
Based on property information with market context.
Page Plaza is a 58,359-square-foot shopping center completed in 2009. The property is positioned as a grocery- and value-oriented retail center with a national tenant lineup and an existing 9,000-square-foot vacant suite.
The center is located at 3613 W Stetson Ave in Hemet, California, near a Walmart Supercenter. The available suite provides a defined vacancy within the established retail property.
The center is located at 3613 W Stetson Ave in Hemet, California, near a Walmart Supercenter. The available suite provides a defined vacancy within the established retail property.
Key Highlights
- 58,359 SF shopping center completed in 2009
- National tenant lineup
- 9,000 SF vacant suite
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
$836,504
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
6.09%
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%
$16,730,080
$16.7M
Cap Rate 7%
$11,950,057
$12.0M
Cap Rate 9%
$9,294,489
$9.3M
Market Conditions
NOI Build-Up for 58,359 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
$1.26M $21.60/SF
− Vacancy
−$65.5K −$1.12/SF
EGI
$1.20M $20.48/SF
− OpEx
−$358.5K −$6.14/SF
NOI
$836.5K $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%
$16,730,080
Cap Rate 7%
$11,950,057
Cap Rate 9%
$9,294,489
Alternative Uses
Best Use
Retail
$11.95M
$10.46M – $13.94M
NOI $836,504 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.48M
$15.30M – $20.40M
NOI $1,223,836 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92545, CA
44,072
Population
17,533
Households
2.5
Avg Household Size
45
Median Age
17%
College-Educated
84%
High-School Grad
29.7 sq mi
ZIP Area
1,484
Density / Sq Mi
$59,575
Median Household Income
$41,732
Median Earnings
$1,778
Median Rent
$334,900
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
- Page Plaza — 3613 W Stetson Ave, Hemet, CA 92545
- Wentworth Plaza — Wentworth Dr, Hemet, CA 92545
Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center featuring national tenants near a Walmart Supercenter.
Where is this shopping center located?
The property is located at 3613 W Stetson Ave Hemet, CA.
What is the asking price?
The asking price for this property is $13,725,000.
What are key features of this property?
This property features: 58,359 SF shopping center completed in 2009; National tenant lineup; 9,000 SF vacant suite
