Mixed-Use Property with Office
New
For Sale
$1,200,000
4828 E Florida, Hemet, CA 92544
Five occupied units combine commercial office and residential uses in two separate buildings.
Property Size3,500 SF
Days on Market2
Property Features for 4828 E Florida
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Commercial
Occupancy
100%
Units
Multifamily Units
2
Office Units
3
Additional Details
Road Access
Yes
Tenant in Place
Yes
Property Use
Mixed-use
Building Details
Building Size
3,500 SF
Year Built
1955
Buildings
2
Tenancy
Multi
Owner Occupied
No
Listing Agency:
Century 21 Masters
Listed By:
Lauren Espey
(951) 623-6955
Source:
Elliman
Added: Nov 3
Last Checked: Nov 3 at 2:50PM
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 Century 21 Masters
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Investment Insights
Based on property information with market context.
At 4828 E Florida Avenue in Hemet, this mixed-use property comprises five occupied units in two buildings. The main building contains two office suites and two residential units; a separate rear building is occupied by a tax office. The property was built in 1955 and has a newer roof and mini-split heating and cooling systems.
Florida Avenue frontage places the property along a commercial corridor. The surrounding area includes businesses, shopping, dining and residential neighborhoods, with access to these nearby uses.
Florida Avenue frontage places the property along a commercial corridor. The surrounding area includes businesses, shopping, dining and residential neighborhoods, with access to these nearby uses.
Key Highlights
- Five tenant‑occupied units across two buildings
- Main building includes two office units and two residential units
- Separate rear building occupied by a tax office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,653
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,133,060
$1.1M
Cap Rate 7%
$809,329
$809.3K
Cap Rate 9%
$629,478
$629.5K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$105.0K $30.00/SF
− Vacancy
−$2.0K −$0.57/SF
EGI
$103.0K $29.43/SF
− OpEx
−$46.4K −$13.24/SF
NOI
$56.7K $16.19/SF
Area
Riverside County, CA
Vacancy
1.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,133,060
Cap Rate 7%
$809,329
Cap Rate 9%
$629,478
Alternative Uses
Best Use
Apartment 5plus
$809.3K
$708.2K – $944.2K
NOI $56,653 @ 7.0% cap · market cap 4.72%
Second Best
Office B
$785.6K
$687.4K – $916.5K
NOI $54,991 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$1.05M
$917.5K – $1.22M
NOI $73,398 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
3
Office units
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
228
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Five occupied units combine commercial office and residential uses in two separate buildings.
Where is this mixed-use property located?
The property is located at 4828 E Florida Hemet, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Five tenant‑occupied units across two buildings; Main building includes two office units and two residential units; Separate rear building occupied by a tax office
