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    Property profile & analytics
    OFF-MARKET Estimated value $1,420,000
    Medical Office Space

    1011 Devonshire Ave, Hemet, CA 92543-2702

    16,236 SF 0.46 ac lot Built 1992
    Individually Owned 3-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US10-3027551
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Medical Office Space
    Use group MEDICAL BUILDING
    Year built 1992
    Construction WOOD
    Total area 16,236 SF
    Lot 0.46 ac (20,037 SF)
    Zoning code C1
    APN 445-350-011
    UPID US10-3027551
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Arrowhead Orthopaedics: Frykman G MD Pediatrician
    • Arrowhead Orthopaedics: Skubic J MD Physician
    • PHILLIP ANDREW SAUNDERS Physician
    • Dr. Peter T. Lac Physician
    • Dr. Jay S. Agarwal, MD Physician
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $1.35M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.44M
    Blend (final) Blend
    $1.42M
    Owner & transaction history
    Jean Cheng · 3 yrs held
    Jean Cheng
    since 2023
    Last sale
    $1.5M
    7 recorded transactions
    2023
    2017
    2015
    2015
    $1.5M
    2013
    $2.5M
    2013
    2005
    $2.5M
    Zoning & alternative use
    C1 · Hemet, CA
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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