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    33363 Ca-74 Hemet, CA 92545
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    33363 Ca-74, Hemet, CA 92545

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    • Retail properties & Spaces
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    • Retail properties & Spaces

    Property Details for 33363 Ca-74

    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional commercial real estate opportunity presents two prime parcels ideally situated at the high-traffic intersection of Highway 74 and Highway 79 (Winchester Road) in Hemet, California. Boasting a combined total of approximately 21.43 acres, these pads are ready for immediate development. Parcel 1 encompasses approximately 0.73 acres and Parcel 2 offers approximately 0.70 acres. Both parcels will be delivered fully entitled for drive-thru and retail uses, making them perfect for fast-food restaurants, coffee shops, or other retail establishments seeking high visibility and accessibility. The location benefits from an estimated 45,900 cars passing daily, ensuring significant exposure to potential customers. The property's strategic location within Riverside County provides easy access to a substantial population base

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hemet
    County
    Riverside
    State
    California
    Longitude
    -117.079
    Latitude
    33.739

    Comparable in this City

    • Value Estimation by Request

      700 Sanderson Ave

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      700 Sanderson Ave, Hemet, CA 92545
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    • Value Estimation by Request

      2361 Florida Ave

      Land
      2361 Florida Ave, Hemet, CA 92545
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      $3,860,000
      25,029 SF

      1165 Stetson Ave

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      1165 Stetson Ave, Hemet, CA 92545
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    • Value Estimation by Request
      0.39 Acres

      4602 Florida Ave

      Individual retail properties
      4602 Florida Ave, Hemet, CA 92545
      View Details
    • Value Estimation
      $4,625,000
      50,000 SF

      2200 Florida Ave

      DEPARTMENT STORE
      2200 Florida Ave, Hemet, CA 92545-3666
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    • Value Estimation
      $12,150,000
      133,841 SF

      350 Sanderson Ave

      DEPARTMENT STORE
      350 Sanderson Ave, Hemet, CA 92545-9014
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • Contact for pricing

      Land Available for Lease/Sale

      Land available for ground lease, sale, or build-to-suit.
      700 N Sanderson Ave, Hemet, CA 92545
      View Details
    • Contact for pricing

      Retail/Restaurant Space for Lease

      Retail and restaurant spaces available for lease.
      Seq Florida Ave/Hwy 74 & Sanderson Ave, Hemet, CA 92545
      View Details
    • Contact for pricing

      Warehouse with Ample Land

      33,000 sq ft warehouse with land near major highways.
      35650 Hidden Springs Rd, Hemet, CA 92545
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    • $1.39 SF/Yr

      Regional Shopping Center Space Available

      Suites available in a bustling regional shopping center.
      4672 West Florida Ave, Hemet, CA 92545
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      Retail Center Anchored by Target

      Retail spaces for lease in Hemet Valley Center.
      3301 W Florida Ave, Hemet, CA 92545
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    • Contact for pricing
      22,401 SF

      Retail Anchor Space Available

      20,001 SF anchor retail space for lease.
      2701-2721 W Florida Ave, Hemet, CA 92545
      View Details
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    Hemet, CA 92545
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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