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Property profile & analytics
OFF-MARKET
Estimated value
$4,205,000
Retail space
1661 Florida Ave Hemet, CA 92543-3818
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-0949863
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1999
Construction
TILT-UP CONCRETE
Total area
13,905 SF
Lot
1.37 ac (59,677 SF)
APN
442-110-032
UPID
US09-0949863
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Cosmetic Store
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
-
FedEx OnSite Postal Service Courier Service
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.41M
CAP Approach
CAP
$3.07M
Comparable Approach
Comparable
$4.25M
Blend (final)
Blend
$4.21M
Owner & transaction history
Kyoung Kim Nae · 4 yrs held
Kyoung Kim Nae
since 2022
Last sale
$4.0M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.0M
+154.9%
Apartment house (5+ units)
$4.9M
+108.9%
Warehouse, storage
$4.1M
+74.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Hemet submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hemet submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,320,000
ML approach
$4,405,000
CAP Approach
CAP Return
Estimation
6%
$3,320,000
6.5%
$3,065,000
7%
$2,845,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$6,005,000
Change: +155% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,920,000
Change: +109% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,110,000
Change: +74% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,100,000
Change: +32% · Conversion: Difficult
Blend value · Realmo final
$4.21M
Range $3.78M – $4.63M · ±10% · vs last sale $4.03M (May 25 2022)
Last sale anchor
$4.03M
May 25 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$302 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$67,225
Tax year 2024
Assessed value
$5,917,395
Assessed 2024
Previous assessed
$5,917,395
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$591,729
Assessed improvement
$5,325,666
Applied tax rate
6.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1999
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
13,905 SF
Lot
1.37 ac (59,677 SF)
APN
442-110-032
UPID
US09-0949863
Jurisdiction
RIVERSIDE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$6.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.9M
WAREHOUSE, STORAGE
Est. value
$4.1M
INDUSTRIAL (GENERAL)
Est. value
$3.1M
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
1.37 ac
Current owner
From public records · entity-resolved
Kyoung Kim Nae
Individual
Mailing address
4660 PO BOX 1159TH DR, DEERFIELD, IL 60015-6002
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 25, 2022
$4,030,000
Kyoung Kim Nae
Annesta Hemet Associates LLC
Grant Deed
$2,015,000 · Trustone Financial Cu
Apr 28, 1999
—
Annesta Hemet Associates LLC
Evergreen-lyon LP
Grant Deed
$2,705,000 · Trustmark Life Insurance Co
Jun 8, 1998
—
Evergreen-lyon LP
Dockstader,leda
Grant Deed
$2,400,000 · Wells Fargo Bank
Jan 1, 1989
$631,000
Dockstader Leda
Dynasty Deed Ser
Trustees Deed
related
—
Jan 1, 1989
—
Dynasty Deed Ser
Nomicos Eugene
Trustees Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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