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Property profile & analytics
OFF-MARKET
Estimated value
$2,075,000
Retail space
2087 Florida Ave Hemet, CA 92544-4730
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-3122576
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1962
Construction
TILT-UP CONCRETE
Total area
8,520 SF
Lot
0.5 ac (21,780 SF)
Zoning code
C1
APN
445-280-040
UPID
US09-3122576
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
-
Corner Drug Store Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.13M
CAP Approach
CAP
$1.88M
Comparable Approach
Comparable
$2.00M
Blend (final)
Blend
$2.08M
Owner & transaction history
Bl Portfolio LLC · 3 yrs held
Bl Portfolio LLC
since 2023
Last sale
$2.0M
1 recorded transaction
Zoning & alternative use
C1 · Hemet, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.6M
+53.5%
Warehouse, storage
$2.5M
+49.3%
Industrial (general)
$1.9M
+12.7%
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
$2,160,000
ML approach
$2,125,000
CAP Approach
CAP Return
Estimation
6%
$2,035,000
6.5%
$1,880,000
7%
$1,745,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,685,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,585,000
Change: +53% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,515,000
Change: +49% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,900,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$2.08M
Range $1.87M – $2.28M · ±10% · vs last sale $2.05M (Jan 25 2023)
Last sale anchor
$2.05M
Jan 25 2023
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
$244 / 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
$18,846
Tax year 2024
Assessed value
$1,657,500
Assessed 2024
Previous assessed
$1,657,500
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$178,500
Assessed improvement
$1,479,000
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
1962
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
8,520 SF
Lot
0.5 ac (21,780 SF)
Zoning code
C1
APN
445-280-040
UPID
US09-3122576
Jurisdiction
RIVERSIDE
Zoning & alternative use
C1 · Hemet, CA
Zoning C1 · permitted uses
C1 · 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
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
WAREHOUSE, STORAGE
Est. value
$2.5M
INDUSTRIAL (GENERAL)
Est. value
$1.9M
RETAIL STORES Current
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
1962
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.5 ac
Current owner
From public records · entity-resolved
Bl Portfolio LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1234 E 17TH ST, SANTA ANA, CA 92701-2612
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2023
$2,045,000
Bl Portfolio LLC
Big Lots Stores Pns LLC
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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