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    Property profile & analytics

    700 Sanderson Ave Hemet, CA 92545

    • Retail properties
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Chevron / Gas Station
    • Em Extra Mile / Grocery & Convenience Store
    • Krispy Krunchy Chicken / Restaurant

    Property Details for 700 Sanderson Ave

    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    Zanderson Plaza presents a unique investment opportunity in Riverside County. This ±1.99 to ±6.43-acre site is available for ground lease, sale, or build-to-suit (BTS) development. The property boasts exceptional visibility, situated on a signalized corner with approximately 34,337 cars passing daily (CPD). Its strategic location on North Sanderson Avenue provides convenient access to North Hemet and East Florida Avenue. The site is surrounded by residential rooftops, indicating a strong potential customer base. Currently, the trade area is underserved in terms of food and retail options, making this an ideal location for restaurants, anchor tenants, and other retail businesses seeking high visibility and strong potential for growth. The property's multiple tenancy potential allows for flexibility in development and tenant mix. This is a rare opportunity to acquire a significant parcel of land in a high-traffic area with substantial growth potential. The drive-thru capability adds further appeal to potential restaurant tenants. Consider this prime location for your next commercial venture.

    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
    -117.007
    Latitude
    33.7587

    Comparable in this City

    • Value Estimation by Request
      128,752 SF

      727 Sanderson Ave

      Lifestyle centers • 128,752 SF
      727 Sanderson Ave, Hemet, CA 92545
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    • Value Estimation by Request
      4,370 SF

      33389 Ca-74

      Individual retail properties • 4,370 SF
      33389 Ca-74, Hemet, CA 92545
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    • Value Estimation by Request

      33363 Ca-74

      Land
      33363 Ca-74, Hemet, CA 92545
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    • Value Estimation by Request
      0.39 Acres

      4602 Florida Ave

      Individual retail properties • 0.39 Acres
      4602 Florida 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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    • Value Estimation by Request
      2,975 SF

      32394 State Hwy 74

      RETAIL STORES (PERSONAL SERVICES) • 2,975 SF
      32394 State Hwy 74, Hemet, CA 92545
      View Details

    Similar Nearby for Sale

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    • $40,000

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    • $1,315,182
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    Similar Nearby for Lease

    • Contact for pricing
      280,090 SF

      Zanderson Plaza: Prime Retail Land

      Restaurant, Retail, & Anchor Opportunities
      700 Sanderson Ave, Hemet, CA 92545
      View Details
    • Contact for pricing
      62,291 SF

      Hemet Retail Pads - Highway 74

      Prime Hemet location, drive-thru ready.
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      92 SF

      Retail Anchor Space Available

      20,001 SF anchor retail space for lease.
      2701-2721 W Florida Ave | Hemet, Hemet, CA 92545
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    • Contact for pricing
      108,029 SF

      Hemet Land: Build-to-Suit Opportunity

      Prime Hemet location, 2 acres, high traffic.
      2361 Florida Ave, Hemet, CA 92545
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    • $1.39 SF/Yr
      176,596 SF

      Regional Shopping Center Space Available

      Suites available in a bustling regional shopping center.
      4672 West Florida Ave, Hemet, CA 92545
      View Details
    • Contact for pricing

      Dominant Shopping Center in Hemet

      Prominent shopping center with high visibility and convenient access.
      2901-3223 West Florida Ave, Hemet, CA 92545
      View Details
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    700 Sanderson Ave
    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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