Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4920 Florida Ave Hemet, CA 92543

    • Land
    • 3.30 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 4920 Florida Ave

    Lot size
    3.30 lot acres
    Property type
    Land

    Description

    This exceptional 3.3-acre commercial land parcel, located at 4920 E Florida Ave in Hemet, CA (APN 551-321-008), presents a lucrative development opportunity. Zoned C-2, the property boasts approved entitlements for a comprehensive development including an ARCO gas station, convenience store, a long tunnel express car wash, and two restaurants with drive-thru capabilities. Beer and wine sales are also permitted for off-site consumption. The site is currently undergoing plan check for construction

    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
    -116.96
    Latitude
    33.748

    Comparable in this City

    • Value Estimation by Request
      38.26 Acres

      Horning Rd

      Land • 38.26 Acres
      0 Horning Rd, Hemet, CA 92543
      View Details
    • Value Estimation by Request
      9.08 Acres

      Juanita St

      Land • 9.08 Acres
      0 Juanita St, Hemet, CA 92543
      View Details
    • Value Estimation by Request
      3.13 Acres

      Acacia Ave

      Land • 3.13 Acres
      0 Acacia Ave, Hemet, CA 92543
      View Details
    • Value Estimation by Request
      13.64 Acres

      Oakwood St

      Land • 13.64 Acres
      0 Oakwood St, San Jacinto, CA 92543
      View Details
    • Value Estimation by Request
      23.97 Acres

      1890 State St

      Land • 23.97 Acres
      1890 State St, Hemet, CA 92543
      View Details
    • Value Estimation by Request
      10.59 Acres

      Diamond Valley Rd

      Land • 10.59 Acres
      0 Diamond Valley Rd, Hemet, CA 92543
      View Details

    Similar Nearby for Sale

    • $1,200,000
      3.13 Acres

      Hemet Commercial Land Opportunity

      3.13-acre infill lot, flexible zoning.
      0 Acacia Ave, Hemet, CA 92543
      View Details
    • $199,000

      Vacant Land for Development

      40+ acres of vacant land with drilled well.
      Lewis Valley Rd, Hemet, CA 92543
      View Details
    • $260,000

      Land Parcel with Subdivision History

      Land parcel suitable for a small ranch or subdivision.
      920 N Palm Ave, Hemet, CA 92543
      View Details
    • $59,900

      Land Available for Sale

      Land available for sale at $59,900.
      575 S Lyon Ave, Hemet, CA 92543
      View Details
    • $1,949,000

      Land Available in Hemet, CA

      Land for sale in Hemet, California.
      Tr Midway Rnch, Hemet, CA 92543
      View Details
    • $419,000

      Land Available for Sale

      Land available for sale at $419,000.
      410 N San Jacinto St, Hemet, CA 92543
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      2,134 SF

      Hemet Medical Office Building

      Prime Hemet location, 2,134 sq ft.
      1011 Devonshire Ave, Hemet, CA 92543
      View Details
    • $17 SF/Yr
      3,606 SF

      Hemet Medical Office Building

      Prime Medical Office, Single Tenant, High Visibility
      1011 Devonshire Ave, Hemet, CA 92543
      View Details
    • $4 SF/Yr
      17,000 SF

      Hemet CA: Land & Buildings Lease

      17,000 sq ft, high-visibility Hemet property.
      1031 Florida Ave, Hemet, CA 92543
      View Details
    • $17 SF/Yr
      1,546 SF

      Hemet Medical Office Building

      Prime Hemet location, 1,546 sq ft.
      1011 Devonshire Ave, Hemet, CA 92543
      View Details
    • $12 SF/Yr
      8,624 SF

      Hemet Flex Space: 8 Units Available

      Industrial/Retail/Office Space in Prime Location
      980 State St, Hemet, CA 92543
      View Details
    • $1.00 SF/Yr
      48,000 SF

      Hemet Automotive and Industrial Space

      Versatile automotive and industrial space with flexible leasing options.
      980 N State St, Hemet, CA 92543
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4920 Florida Ave
    Hemet, CA 92543
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.