Retail Property with Dual
For Sale
$2,085,000
3630 E Florida, Hemet, CA 92544
Commercial Sale, Hemet, CA
Property Size7,600 SF
Lot Size1.86 Acres
Price / SF$274.34
Days on Market252
Property Features for 3630 E Florida
General Information
Property type
Residential
Property subtype
Retail
Directions
215 fwy head East on Hwy 74 on your left
Subdivision
SRCAR - Southwest Riverside County
Standard status
Active
APN
438150042
Lot size
1.86 Acres
Building Details
Year built
1968
Listing Agency:
Coldwell Banker Assoc.Brks-CL
(951) 244-1867
Listed By:
Kris Hansen · License #01878656
(951) 551-6434
Added: Dec 14, 2025
Changed: Aug 22
Last Checked: Aug 23 at 5:06PM
MLS# SW25275866
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail property at 3630 E Florida in Hemet, California, occupies 1.86 acres and includes more than 7,600 square feet of shop and office improvements. Built in 1968, the asset is configured with access from two streets and may be delivered vacant, providing flexibility for an owner-user or repositioning plan.
The property is currently leased and reports a 6.5 CAP rate. Its combination of retail classification, substantial improvements, and multi-street access supports a range of commercial occupancy approaches within the existing building footprint.
The property is currently leased and reports a 6.5 CAP rate. Its combination of retail classification, substantial improvements, and multi-street access supports a range of commercial occupancy approaches within the existing building footprint.
Key Highlights
- 1.86‑acre retail property in Hemet, CA
- Over 7600 sqft of shop and office space
- Dual street entrance
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
$108,937
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
5.22%
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%
$2,178,740
$2.2M
Cap Rate 7%
$1,556,243
$1.6M
Cap Rate 9%
$1,210,411
$1.2M
Market Conditions
NOI Build-Up for 7,600 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
$164.2K $21.60/SF
− Vacancy
−$8.5K −$1.12/SF
EGI
$155.6K $20.48/SF
− OpEx
−$46.7K −$6.14/SF
NOI
$108.9K $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%
$2,178,740
Cap Rate 7%
$1,556,243
Cap Rate 9%
$1,210,411
Alternative Uses
Best Use
Retail
$1.56M
$1.36M – $1.82M
NOI $108,937 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,378 @ 7.0% cap · market cap 7.64%
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
443
Businesses Nearby
101k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Groceries 31%
Shops & Services 22%
Stater Bros. Markets
Groceries
31,139 visits/mo
0.0 miles
Starbucks
Dining
20,663 visits/mo
0.0 miles
Del Taco
Dining
15,934 visits/mo
0.1 miles
7-Eleven
Shops & Services
6,884 visits/mo
0.2 miles
AutoZone
Shops & Services
5,400 visits/mo
0.4 miles
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - The property includes shop and office improvements with flexible occupancy options for a retail-oriented commercial user.
Where is this retail space located?
The property is located at 3630 E Florida Hemet, CA.
What is the asking price?
The asking price for this property is $2,085,000.
What are key features of this property?
This property features: 1.86‑acre retail property in Hemet, CA; Over 7600 sqft of shop and office space; Dual street entrance
