Retail Property in Hemet For
For Sale
$1,100,000
811 E Florida Ave, Hemet, CA 92543
6700 SF retail property available in Hemet, California.
Property Size6,700 SF
Lot Size0.18 Acres
Price / SF$164.18
Days on Market163
Property Features for 811 E Florida Ave
General Information
Standard status
Active
Size
6,700 SF
Lot size
0.18 Acres
Property subtype
Commercial
Building Details
Building Size
6,700 SF
Year Built
1953
Listing Agency:
New Star Realty & Investment
(714) 865-8989
Listed By:
Kee Woon Lee · License #01077991
(714) 865-8989
Source:
Elliman
Added: Mar 12
Changed: Aug 13
Last Checked: Aug 21 at 12:50PM
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 New Star Realty & Investment
Investment Insights
Based on property information with market context.
A 6700 square foot retail property located in Hemet, California, is available for sale. This property is presented as a potential investment opportunity.
Key Highlights
- 6700 sf of retail property for sale
- Located in Hemet
- Good investment
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
$96,036
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
8.73%
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%
$1,920,720
$1.9M
Cap Rate 7%
$1,371,943
$1.4M
Cap Rate 9%
$1,067,067
$1.1M
Market Conditions
NOI Build-Up for 6,700 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
$144.7K $21.60/SF
− Vacancy
−$7.5K −$1.12/SF
EGI
$137.2K $20.48/SF
− OpEx
−$41.2K −$6.14/SF
NOI
$96.0K $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%
$1,920,720
Cap Rate 7%
$1,371,943
Cap Rate 9%
$1,067,067
Alternative Uses
Best Use
Retail
$1.37M
$1.20M – $1.60M
NOI $96,036 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.01M
$1.76M – $2.34M
NOI $140,504 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,854
Businesses Nearby
Explore this area
Business Placement
Demographics for 92543, CA
39,323
Population
15,225
Households
2.6
Avg Household Size
37
Median Age
13%
College-Educated
75%
High-School Grad
19.1 sq mi
ZIP Area
2,059
Density / Sq Mi
$47,002
Median Household Income
$34,376
Median Earnings
$1,306
Median Rent
$250,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 6700 SF retail property available in Hemet, California.
Where is this retail space located?
The property is located at 811 E Florida Ave Hemet, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 6700 sf of retail property for sale; Located in Hemet; Good investment
