1011 Devonshire AveHemet, CA 92543

Property Details for 1011 Devonshire Ave

Year built

1992

Construction

WOOD

Lot size

0.46 AC

Property size (Sq ft)

16,236 SF

Zone code

C1

Property type

Healthcare properties

Property subtype

Medical offices

APN

445-350-011

APU

445350011

Description

This exceptional 3,606 square foot medical office building presents a unique investment opportunity in Riverside County. Situated directly across from Hemet Valley Medical Center, this two-story building enjoys unparalleled visibility and accessibility. The single-tenant occupancy ensures a stable income stream, while the convenient location guarantees high patient traffic. The property features a modern elevator, on-site pharmacy, and ample parking, catering to both patients and staff. The building is meticulously landscaped and well-maintained, reflecting a commitment to quality and professionalism. The lease rate is $1.45 per square foot, representing a strong return on investment. The property's strategic location, coupled with its modern amenities and high-demand medical office space, makes it an ideal acquisition for investors seeking a stable and profitable asset in a thriving healthcare market. The building's size and configuration are well-suited for a variety of medical practices, offering flexibility and adaptability to future needs. The substantial parking lot ensures convenient access for patients and staff, further enhancing the property's appeal. This turnkey operation requires minimal capital expenditure, making it an attractive option for both seasoned investors and newcomers to the commercial real estate market. The property's strong location and current lease agreement provide a solid foundation for long-term growth and profitability.

• CAP approach

  CAP return

  Valuation

  6%

  $4,462,310

  6.5%

  $4,119,055

  7%

  $3,824,836

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,848,160

  Geo Method

  $5,714,585

• Alternative Use

  Use

  Valuation

  Residential

  $5,107,628

  Hospitality

  $4,678,560

  Educational

  $3,892,507

  Medical

  $4,026,376

  Retail

  $6,055,010

Location Insight

City

Hemet

County

Riverside

State

California

Latitude

33.7506

Longitude

-116.961

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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