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    Property profile & analytics

    1300 Florida Ave Hemet, CA 92544

    • Retail space
    • 13,680 SF
    • 1.28 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-3034153
    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.

    Current Use by Public Records

    • Isabel Alonzo - Realtor / Real Estate Agent
    • Philip Medlyn / Marriage Or Relationship Counselor
    • Idalis Morrow / Marriage Or Relationship Counselor
    • Brandy Sadenwasser / Psychologist / Social Worker
    • Tina Aragon, LMT / Doctor / Massage Therapist

    Property Details for 1300 Florida Ave

    Year built
    1981
    Construction
    WOOD
    Lot size
    1.28 lot acres
    Property size
    13,680 SF
    Zone code
    C1
    Property type
    Retail space
    APN
    442-060-011
    APU
    442060011

    Description

    Ramona Plaza, located at 1300 E Florida Ave, Hemet, CA 92544, presents a unique investment opportunity in a thriving commercial area. This single-story, 102,000 square foot Class B shopping center, built in 1974 and renovated in 2006, offers multiple tenancy options with a minimum divisible space of 1,200 square feet and a maximum contiguous space of 11,000 square feet currently available. The property boasts ample parking with 335 spaces and is zoned C-2, allowing for a variety of uses. Currently, Grocery Outlet and Planet Fitness are established tenants. Its strategic location directly across from Hemet Global Medical Center provides high visibility and foot traffic. The center benefits from on-site security, enhancing its appeal to both tenants and investors. The property's versatile zoning and existing infrastructure make it ideal for retail, restaurants, medical offices, insurance agencies, and other professional services. While the current tenant mix and pricing are subject to change, this property offers significant potential for growth and return on investment. The 11,000 square feet of vacant space presents a prime opportunity for expansion or new business ventures.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,270,000
      6.5%
      $3,015,000
      7%
      $2,800,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,582,000
      Market price range: $1.17M - $4.18M
      AI Estimate
      $2,347,000
      Market price range: $795k - $2.35M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,320,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $4,840,000
      Change: +109% Conversion: Difficult
      WAREHOUSE, STORAGE
      $4,040,000
      Change: +74% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $3,050,000
      Change: +32% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hemet
    County
    Riverside
    State
    California
    Longitude
    -116.985
    Latitude
    33.748
    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
    $32,398
    $787,500
    $2,047,500
    $2,835,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      68,034 SF

      1109-1287 State St

      Individual retail properties • 68,034 SF
      1109-1287 State St, Hemet, CA 92543
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    • Value Estimation by Request

      1291 Florida Ave

      STORE, RETAIL OUTLET
      1291 Florida Ave, Hemet, CA 92543-4513
      View Details
    • Value Estimation by Request

      231 State St Ste C

      STORE, RETAIL OUTLET
      231 State St Ste C, Hemet, CA 92543-3301
      View Details
    • Value Estimation by Request
      2.67 Acres

      1263 State St

      RETAIL STORES (PERSONAL SERVICES) • 2.67 Acres
      1263 State St, Hemet, CA 92543-7900
      View Details
    • Value Estimation by Request
      1.44 Acres

      749 State St

      RETAIL STORES (PERSONAL SERVICES) • 1.44 Acres
      749 State St, Hemet, CA 92543-1402
      View Details
    • Value Estimation
      $2,240,000
      13,194 SF

      1323 Florida Ave

      RETAIL STORES (PERSONAL SERVICES) • 13,194 SF
      1323 Florida Ave, Hemet, CA 92543-3911
      View Details

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    1300 Florida Ave
    Hemet, CA 92544
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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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