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Property profile & analytics
OFF-MARKET
Estimated value
$1,500,000
Retail space
204 Florida Ave Hemet, CA 92543
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US10-2787916
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1928
Construction
TILT-UP CONCRETE
Total area
5,494 SF
Lot
0.36 ac (15,681 SF)
Zoning code
C2
APN
443-232-007
UPID
US10-2787916
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
$1.50M
CAP Approach
CAP
$1.21M
Comparable Approach
Comparable
$1.51M
Blend (final)
Blend
$1.50M
Owner & transaction history
City Of Hemet · 2 yrs held
City Of Hemet
since 2024
Last sale
$1.5M
3 recorded transactions
Zoning & alternative use
C2 · Hemet, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.4M
+154.9%
Apartment house (5+ units)
$1.9M
+108.9%
Warehouse, storage
$1.6M
+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
$1,500,000
ML approach
$1,500,000
CAP Approach
CAP Return
Estimation
6%
$1,315,000
6.5%
$1,210,000
7%
$1,125,000
Alternative Use
Use
Estimation
RETAIL STORES
$930,000
Current use
AUTO REPAIR, GARAGE
$2,370,000
Change: +155% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,945,000
Change: +109% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,625,000
Change: +74% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,225,000
Change: +32% · Conversion: Difficult
Blend value · Realmo final
$1.50M
Range $1.35M – $1.65M · ±10% · vs last sale $1.50M (Jun 28 2024)
Last sale anchor
$1.50M
Jun 28 2024
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
$273 / 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
$13,565
Tax year 2024
Assessed value
$1,195,742
Assessed 2024
Previous assessed
$1,195,742
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$218,642
Assessed improvement
$977,100
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
1928
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
1
Units
3
Total area
5,494 SF
Lot
0.36 ac (15,681 SF)
Zoning code
C2
APN
443-232-007
UPID
US10-2787916
Jurisdiction
RIVERSIDE
Zoning & alternative use
C2 · Hemet, CA
Zoning C2 · permitted uses
C2 · Hemet, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hemet. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$930,000
AUTO REPAIR, GARAGE
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.6M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES Current
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
1928
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
0.36 ac
Current owner
From public records · entity-resolved
City Of Hemet
Entity
Free & Clear · 2 yrs held
Mailing address
445 E FLORIDA AVEEE, HEMET, CA 92543-4209
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2024
$1,500,000
City Of Hemet
Hemet Temecula LLC
Grant Deed
—
Jul 11, 2023
—
Hemet Temecula LLC
Anil Rastogi
Quit Claim Deed
related
—
Jun 2, 2005
$875,000
Rastogi A & A Trust
Martin Harold R Trust
Grant Deed
—
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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