217 Florida Ave Hemet, CA 92543-4205
- Retail space
- 3,824 SF
- 0.09 lot acres
Current Use by Public Records
- Vero's Ice Cream / Ice Cream Shop
- Samaritan Realty / Real Estate Agency
- Just Juice / Juice Shop
- La michoacana Extra / Restaurant
- La michocana ice cream / Ice Cream Shop
Property Details for 217 Florida Ave
- Year built
- 1931
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.09 lot acres
- Property size
- 3,824 SF
- Zone code
- C2
- Property type
- Retail space
- APN
- 443-282-003
- APU
- 443282003
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $305,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $275,000
- 6.5%
- $240,000
- 7%
- $275,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $310,000
- Geo Method
- $295,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $235,000
- Retail
- $285,000
- Mixed-Use
- $280,000
- Hospitality
- $290,000
- Educational
- $250,000
- Residential Income
- $220,000
- Energy
- $240,000
- Income-Based Land
- $215,000
- Food Service
- $250,000
Location Insight
- Map
- Local Demand
- City
- Hemet
- County
- Riverside
- State
- California
- Longitude
- -116.97
- Latitude
- 33.7472
- CBSA code
- 40140
- CBSA name
- RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA