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Property profile & analytics
OFF-MARKET Estimated value $4,035,000
Strip malls

1709 Florida Ave Hemet, CA 92545-3717

40,000 SF 1.91 ac lot Built 1969
Entity Owned 1-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US09-0625929
Property summary
AI-generated overview

This exceptional 1.25-acre commercial land parcel presents a remarkable investment opportunity in Hemet, California. Located at the southwest corner of Highway 79 and South Lyon Avenue, this fee-simple property boasts a highly desirable C-2 zoning designation, permitting a diverse range of commercial uses, including restaurant, retail, and medical facilities. Situated within the established Towne House Plaza, this pad site benefits from reciprocal parking and convenient access, ensuring ample parking for patrons and employees. The property's strategic location on Highway 79, a major thoroughfare with over 30,000 cars passing daily, guarantees high visibility and accessibility. The surrounding area is a thriving commercial hub, anchored by established businesses such as Walgreens, Harbor Freight, and DD's Discount, within a 100,000+ square foot shopping center. Hemet's robust economy, fueled by a growing population of retirees and young families, creates a strong and stable market for commercial ventures. The property's Assessed Parcel Number (APN) is 448-460-00. This prime location and flexible zoning make this 1.25-acre parcel an ideal site for a variety of commercial developments, offering significant potential for growth and return on investment. The asking price is $700,000. The address is 1709 W Florida Ave, Hemet, CA 92545.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1969
Construction TILT-UP CONCRETE
Total area 40,000 SF
Lot 1.91 ac (83,199 SF)
Zoning code CM
APN 448-460-008
UPID US09-0625929
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$4.08M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$4.04M
Owner & transaction history
Standard Insurance Company · 1 yrs held
Standard Insurance Company
since 2024
Last sale
$4.0M
7 recorded transactions
2024
$4.0M
2022
Price N/A
2022
Price N/A
2021
$3.5M
2003
$1.6M
2000
Price N/A
1969
Price N/A
Zoning & alternative use
CM · Hemet, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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