33389 Ca-74 Hemet, CA 92545

Property Details for 33389 Ca-74

Lot size

0.58 lot acres

Property size

4,370 SF

Property type

Retail properties

Property subtype

Retail space

Description

This ±4,370 square foot freestanding building in Hemet, CA, presents a unique investment opportunity. Located at the high-traffic intersection of Highways 74 and 79 (Winchester Road), it boasts approximately 45,900 cars per day. The property includes three units, with one currently leased to Alberto's Mexican Restaurant, generating $7,200 in monthly rent (with a 3% annual increase and a 5-year lease extension to February 2029, plus an option to extend to 2034). The restaurant's space features a substantial build-out, including an underground grease interceptor and hood system. The remaining ±2,702 square feet is immediately available for occupancy. Built in 2018, this high-quality construction features a concrete parking lot, drought-tolerant landscaping, monument signage, stone columns, metal tin facia, and LED parking lot lighting. The 0.58-acre lot is ideally situated to serve the approximately 167,200 residents within a 15-minute drive, encompassing Perris, Hemet, San Jacinto, Menifee, and French Valley. The property is suitable for various uses, including dental, medical, retail, and restaurant establishments. There is also potential for a cannabis license; inquiries are welcome. This is a rare opportunity to own rather than lease, with SBA financing available for owner-users, allowing for down payments as low as 10%. With a 10% down payment ($250,000), the estimated monthly loan payment is $14,700. Considering the existing rental income, the effective cost to occupy the remaining space is approximately $4,100 per month, or $1.52 per square foot – significantly less than typical leasing costs.

Location Insight

City

Hemet

County

Riverside

State

California

Longitude

-117.078

Latitude

33.7385