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    1000 State St Hemet, CA 92543-1458
    Property profile & analytics

    1000 State St, Hemet, CA 92543-1458

    View on Map
    • Manufacturing properties
    • 12,480 SF
    • 1.63 lot acres
    Off-Market
    Property ID
    US09-0720444
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,645,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CORC Family Counseling / Marriage Or Relationship Counselor
    • Agape Covenant Outreach Ministries / Church
    • Mr. Sean Ferreiro / Marriage Or Relationship Counselor
    • Sean Michael Patrick Ferreiro / Marriage Or Relationship Counselor
    • Massaglia Medical Group / Medical Group

    Property Details for 1000 State St

    Year built
    1988
    Construction
    TILT-UP CONCRETE
    Lot size
    1.63 lot acres
    Property type
    Manufacturing properties
    APN
    439-090-066
    APU
    439090066

    Description

    This exceptional Hemet commercial property, located at 1000 N State St, offers a diverse range of flexible spaces ideal for automotive, industrial, or retail businesses. The building boasts 20 available units, ranging in size from 360 square feet to 3,985 square feet, providing options for businesses of all scales. The property's classification as Class B reflects its well-maintained and professional environment. Its prime location ensures excellent visibility and convenient access, making it an attractive option for businesses seeking maximum exposure. The units cater to diverse needs, with multiple spaces featuring roll-up doors, perfectly suited for businesses requiring seamless integration of industrial or automotive operations. Ample on-site parking is available for both employees and customers, enhancing convenience and accessibility. The property is situated in Riverside County and offers a blend of office and retail spaces within a single location, providing a versatile solution for various business types. This multi-tenant property presents a unique opportunity to establish or expand your business in a thriving Hemet location. The convenient amenities and services in the surrounding area further enhance the property's appeal.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,710,000
      6.5%
      $1,575,000
      7%
      $1,465,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,153,000
      Market price range: $423k - $1.55M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,460,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hemet
    County
    Riverside
    State
    California
    Longitude
    -116.97
    Latitude
    33.7645
    CBSA code
    40140
    CBSA name
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $14,025
    $586,801
    $605,387
    $1,192,188
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3.59 Acres

      980 State St

      MANUFACTURING (LIGHT)
      980 State St, Hemet, CA 92543-1497
      View Details
    • Value Estimation by Request
      3,600 SF

      671 Palm Ave

      MANUFACTURING (LIGHT)
      671 Palm Ave, Hemet, CA 92543-8851
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    • Value Estimation by Request
      0.23 Acres

      410 Devonshire Ave

      MANUFACTURING (LIGHT)
      410 Devonshire Ave, Hemet, CA 92543-2908
      View Details
    • Value Estimation
      $2,385,000
      19,000 SF

      490 Menlo Ave

      MANUFACTURING (LIGHT)
      490 Menlo Ave, Hemet, CA 92543-1426
      View Details
    • Value Estimation
      $675,000
      6,875 SF

      1125 Acacia Ave

      MANUFACTURING (LIGHT)
      1125 Acacia Ave, Hemet, CA 92543-3960
      View Details
    • Value Estimation
      $580,000
      5,000 SF

      455 Buena Vis St

      MANUFACTURING (LIGHT)
      455 Buena Vis St, Hemet, CA 92543-2921
      View Details

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      Industrial Property in Hemet, CA

      Industrial property in Hemet, CA, currently 100% leased.
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    1000 State St
    Hemet, CA 92543-1458
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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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