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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2200 Florida Ave Hemet, CA 92545-3666

    • Super regional malls
    • 88,530 SF
    • 18.41 lot acres
    OFF-MARKET
    Last Sale
    Aug 16, 2021
    Value Estimations
    $17,755,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3334381
    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.

    Current Use by Public Records

    • All star Renovation Hemet / Construction Company
    • Samurai Sushi and Grill / Sushi Restaurant / Japanese Restaurant
    • Hobby Lobby / Craft Store / Fabric Store
    • FedEx Drop Box / Shipping And Mailing Service / Shipping Service
    • Daniel's Jewelers / Jewelry Store / Jeweler

    Property Details for 2200 Florida Ave

    Year built
    1981
    Construction
    TILT-UP CONCRETE
    Lot size
    18.41 lot acres
    Property size
    88,530 SF
    Property type
    Super regional malls
    APN
    448-420-013
    APU
    448420013

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $18,605,000
      6.5%
      $17,175,000
      7%
      $15,945,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Hemet
    County
    Riverside
    State
    California
    Longitude
    -116.995
    Latitude
    33.7487
    CBSA code
    40140
    CBSA name
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $131,686
    $5,042,000
    $6,514,000
    $11,556,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $685,000
      5,184 SF

      2465 Florida Ave

      SHOPPING CENTER, STRIP CENTER • 5,184 SF
      2465 Florida Ave, Hemet, CA 92545-3688
      View Details
    • Value Estimation
      $960,000
      9,047 SF

      1127 Sanderson Ave

      SHOPPING CENTER, STRIP CENTER • 9,047 SF
      1127 Sanderson Ave, Hemet, CA 92545-9047
      View Details
    • Value Estimation by Request
      4,000 SF

      3315 Florida Ave

      SHOPPING CENTER, STRIP CENTER • 4,000 SF
      3315 Florida Ave, Hemet, CA 92545
      View Details
    • Value Estimation
      $1,990,000
      20,945 SF

      3352 Wentworth Dr

      SHOPPING CENTER, STRIP CENTER • 20,945 SF
      3352 Wentworth Dr, Hemet, CA 92545-9742
      View Details
    • Value Estimation by Request
      3,000 SF

      3329 Florida Ave

      SHOPPING CENTER, STRIP CENTER • 3,000 SF
      3329 Florida Ave, Hemet, CA 92545-3513
      View Details
    • Value Estimation
      $860,000
      6,000 SF

      3121 Florida Ave

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      3121 Florida Ave, Hemet, CA 92545
      View Details

    Similar Nearby for Sale

    • $260,000

      Established Restaurant Business Opportunity

      Turnkey Chinese restaurant in high-traffic Hemet location for sale.
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      Hemet Retail Investment Opportunity

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      Corner Land Parcel For Sale

      Corner land parcel available on a busy highway.
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    • $54,000
      2,178.00 Acres

      Premium Lot in 55+ Community

      Rare opportunity to own a premium lot in Mountain Shadows.
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      Land Near Temecula Wine Country

      Vacant land suitable for growers near Temecula's Wine Country.
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    Similar Nearby for Lease

    • Contact for pricing

      Dominant Shopping Center in Hemet

      Prominent shopping center with high visibility and convenient access.
      2901-3223 West Florida Ave, Hemet, CA 92545
      View Details
    • $1.39 SF/Yr
      176,596 SF

      Regional Shopping Center Space Available

      Suites available in a bustling regional shopping center.
      4672 West Florida Ave, Hemet, CA 92545
      View Details
    • Contact for pricing

      Retail Center Anchored by Target

      Retail spaces for lease in Hemet Valley Center.
      3301 W Florida Ave, Hemet, CA 92545
      View Details
    • Contact for pricing
      280,090 SF

      Zanderson Plaza: Prime Retail Land

      Restaurant, Retail, & Anchor Opportunities
      700 Sanderson Ave, Hemet, CA 92545
      View Details
    • Contact for pricing
      92 SF

      Retail Anchor Space Available

      20,001 SF anchor retail space for lease.
      2701-2721 W Florida Ave | Hemet, Hemet, CA 92545
      View Details
    • Contact for pricing
      62,291 SF

      Hemet Retail Pads - Highway 74

      Prime Hemet location, drive-thru ready.
      33363 Ca-74, Hemet, CA 92545
      View Details
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    2200 Florida Ave
    Hemet, CA 92545-3666
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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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