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217 Florida Ave Hemet, CA 92543-4205

OFF-MARKET Retail space Google Maps
3,824 SF 0.09 ac lot Built 1931
Individually Owned Absentee Owner ~ Est. High Equity
Estimated value (blended)
$305k
Range $275k – $336k (±10%)
Property ID US09-2991475

Property summary

AI-generated overview

This 3,890 square foot retail building at 217 Florida Avenue, Hemet, CA, sits on a 0.09-acre lot and offers a unique investment opportunity. Priced at $800,000, the property includes a fully equipped, state-of-the-art ice cream parlor with all equipment, including soft-serve ice cream and yogurt machines, tables, and decorations. The building boasts significant recent upgrades: a new roof, new electrical and plumbing systems, and two new 5-ton air conditioning units. A large walk-in freezer and walk-in refrigerator are also included. The property's location on Florida Street in downtown Hemet ensures high traffic visibility. Alternatively, the building can be purchased for $700,000 without the ice cream parlor business. This versatile space is ideal for various uses, including catering, party rentals, warehouse and distribution, and other retail ventures. The existing infrastructure supports a wide range of possibilities, such as a restaurant (with potential for beer and wine licensing), a cannabis business, or a barbershop. The property is being sold as-is. Prospective buyers are responsible for conducting their own due diligence.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1931
Construction TILT-UP CONCRETE
Total area 3,824 SF
Lot 0.09 ac (3,920 SF)
Zoning code C2
APN 443-282-003
UPID US09-2991475

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Grocery & Convenience Store Specialty Food Shop
  • Real Estate Agency
  • Specialty Food Shop (Bike/Boat/Book/etc) Store
  • Restaurant
  • Grocery & Convenience Store Specialty Food Shop

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$305k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$305k

Owner & transaction history

since 2026
4 recorded transactions
2026
$625,000
2018
$280,000
2014
$135,000
1998
$55,000

Zoning & alternative use

C2 · Hemet, CA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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