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    4490 Ave Hemet, CA 92544
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    4490 Ave, Hemet, CA 92544

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    • Retail properties & Spaces
    • 4,047 SF
    • 0.57 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 4490 Ave

    Year built
    1978
    Lot size
    0.57 lot acres
    Property type
    Retail properties & Spaces

    Description

    This exceptional Hemet commercial property, located at 4490 East Florida Avenue, offers a versatile 4,047 square foot building situated on a highly visible, signalized corner lot. Boasting an impressive average daily traffic count of 19,313 vehicles, this property presents a prime opportunity for a variety of retail businesses. The building itself includes a 390 square foot warehouse area equipped with a roll-up door, ideal for storage or light industrial uses. The interior features two restrooms, substantial office space, a full kitchen, and a comfortable lounge area, providing a functional and inviting environment for employees and clients. The property's zoning designation is C2 (General Commercial), allowing for a wide range of permitted uses. This offering includes not only the main building but also an additional parcel (APN 551-180-016), encompassing approximately 15,682 square feet. The combined lot size totals approximately 24,830 square feet, providing ample space for parking and outdoor activities. The entire property is fully fenced and paved, ensuring security and ease of access. This property is available for lease or sale. Its strategic location, generous size, and versatile layout make it an attractive investment opportunity.

    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
    -116.919
    Latitude
    33.7114

    Comparable in this City

    • Value Estimation by Request
      1,561 SF

      41007 Ave Unit C

      Retail properties & Spaces
      41007 Ave Unit C, Hemet, CA 92544
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    • Value Estimation by Request
      4,978 SF

      41995 Florida Ave

      Individual retail properties
      41995 Florida Ave, Hemet, CA 92544
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    • Value Estimation
      $3,185,000
      49,750 SF

      42951 State Hwy 74

      DEPARTMENT STORE
      42951 State Hwy 74, Hemet, CA 92544-5129
      View Details
    • Value Estimation by Request
      14,820 SF

      43200 Ca-74

      Individual retail properties
      43200 Ca-74, Hemet, CA 92544
      View Details
    • Value Estimation by Request
      1.37 Acres

      1799 Florida Ave

      STORE, RETAIL OUTLET
      1799 Florida Ave, Hemet, CA 92544-4632
      View Details
    • Value Estimation by Request
      0.68 Acres

      43510 State Hwy 74

      SERVICE STATION (FULL SERVICE)
      43510 State Hwy 74, Hemet, CA 92544-5209
      View Details

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      Former Rite Aid Value-Add Opportunity

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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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