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    1890 State St Hemet, CA 92543
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    Property profile & analytics

    1890 State St, Hemet, CA 92543

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    • Commercial real estate
    • 23.97 lot acres
    Off-Market
    Property ID
    US09-1005832
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1890 State St

    Lot size
    23.97 lot acres
    Property type
    Commercial real estate
    APN
    451-150-008 / 451-150-034 / 451-150-027

    Description

    This exceptional 23.97-acre property in Hemet, California, presents a remarkable investment opportunity. Located at 1890 S State St, 92543, this land boasts breathtaking views of Diamond Valley and South Hemet. The property includes three parcels (APN# 451-150-008, 451-150-034, and 451-150-027), totaling approximately 24 acres and zoned A1-5. Currently featuring two existing structures – a two-bedroom, one-bathroom manufactured home and a barn with a livable area – the land offers numerous potential building sites. All utilities are readily available on the property. Its prime location, directly across from McSweeney Elementary School, makes it highly suitable for subdivision or even a potential school site. This property is situated in a rapidly developing area, presenting significant upside potential. The original list price was $2,500,000, and the current asking price is $2,100,000. The assessor's records indicate a lot size of 1,044,133 square feet, resulting in a price per square foot of approximately $2. The seller is motivated, making this an attractive opportunity for discerning investors. Don't miss this chance to acquire this exceptional piece of land with immense potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hemet
    County
    Riverside
    State
    California
    Longitude
    -116.9718594
    Latitude
    33.7703699

    Comparable in this City

    • $2,500,000

      Hemet Land with Development Potential

      24 acres with income, development potential, and panoramic views.
      1890 South State St, Hemet, CA 92543
      View Details
    • $149,900
      50,094 SF

      1.15 Acre Land Parcel

      1.15 acre land parcel close to shopping and services.
      2 North Lyon Ave, Hemet, CA 92543
      View Details
    • $1,600,000
      107,593.00 Acres

      Hemet Land Investment Opportunity

      Flat 2.47-acre lot suitable for high-density apartment development.
      401 N Santa Fe St, Hemet, CA 92543
      View Details

    Similar Nearby for Sale

    • $2,500,000

      Hemet Land with Development Potential

      24 acres with income, development potential, and panoramic views.
      1890 South State St, Hemet, CA 92543
      View Details
    • $149,900
      50,094 SF

      1.15 Acre Land Parcel

      1.15 acre land parcel close to shopping and services.
      2 North Lyon Ave, Hemet, CA 92543
      View Details
    • $1,600,000
      107,593.00 Acres

      Hemet Land Investment Opportunity

      Flat 2.47-acre lot suitable for high-density apartment development.
      401 N Santa Fe St, Hemet, CA 92543
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Secured Hemet Office Building For Rent

      7,228 SF office building with security fence and parking.
      380 N San Jacinto St, Hemet, CA 92543
      View Details
    • Contact for pricing

      Industrial Property in Hemet, CA

      Industrial property in Hemet, CA, currently 100% leased.
      201-211 N State St, Hemet, CA 92543
      View Details
    • Contact for pricing

      Hemet Flex Space Available

      2,000 SF flex space available for rent.
      162 N San Jacinto St, Hemet, CA 92543
      View Details
    • Contact for pricing

      Freestanding Retail Building For Lease

      Freestanding retail building with drive-thru potential in high-traffic area.
      1799 East Florida Ave East, Hemet, CA 92543
      View Details
    • Contact for pricing

      Commercial Space on Florida Avenue

      7,000 SF commercial space for lease on Florida Avenue.
      611 W Florida Ave, Hemet, CA 92543
      View Details
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    Hemet, CA 92543
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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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