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    74 Hwy Hemet, CA 92532
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    Property profile & analytics

    74 Hwy Hemet, CA 92532

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    • Lifestyle centers
    • 4.42 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 74 Hwy

    Lot size
    4.42 lot acres
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 4.42-acre commercial land parcel presents a prime investment or development opportunity in Lake Elsinore, California. Located on a signalized corner of Highway 74 and Riverside Street (address: 0 Hwy 74, Lake Elsinore, CA 92532), this property boasts a highly desirable C-2 zoning designation. The expansive lot size allows for a wide range of development possibilities, including but not limited to convenience stores, quick-service restaurants (QSRs), shopping centers, gas stations, car washes, self-storage facilities, and contractor storage yards. The C-2 zoning also permits uses such as auto dealerships, day care centers, drug stores, health care facilities, hotels, motels, office buildings, office parks, restaurants, retail spaces, schools, and supermarkets. This strategic location on a busy highway offers exceptional visibility and accessibility, making it an ideal site for a variety of commercial ventures. The property's APN is 347-110-074 & 347-110-071. The asking price is $2,700,000. This is a rare opportunity to acquire a significant commercial land holding in a rapidly growing area. Don't miss out on this chance to capitalize on the potential of this high-traffic location.

    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
    -117.312
    Latitude
    33.711

    Comparable in this City

    • Value Estimation
      $745,000
      6,050 SF

      25321 Railroad Cyn Rd

      SHOPPING CENTER, STRIP CENTER • 6,050 SF
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      View Details
    • Value Estimation
      $1,095,000
      11,935 SF

      29280 Central Ave

      SHOPPING CENTER, STRIP CENTER • 11,935 SF
      29280 Central Ave, Lake Elsinore, CA 92532-2219
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    • Value Estimation
      $1,695,000
      17,050 SF

      31500 Grape St

      SHOPPING CENTER, STRIP CENTER • 17,050 SF
      31500 Grape St, Lake Elsinore, CA 92532-9709
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    • Value Estimation
      $720,000
      6,050 SF

      25341 Railroad Cyn Rd

      SHOPPING CENTER, STRIP CENTER • 6,050 SF
      25341 Railroad Cyn Rd, Lake Elsinore, CA 92532-2704
      View Details
    • Value Estimation
      $535,000
      3,975 SF

      25363 Railroad Cyn Rd

      SHOPPING CENTER, STRIP CENTER • 3,975 SF
      25363 Railroad Cyn Rd, Lake Elsinore, CA 92532
      View Details
    • Value Estimation
      $9,305,000
      9,982 SF

      29989 Railroad Cyn Rd

      SHOPPING CENTER, STRIP CENTER • 9,982 SF
      29989 Railroad Cyn Rd, Lake Elsinore, CA 92532
      View Details

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    74 Hwy
    Hemet, CA 92532
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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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