Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3400 Florida Ave Hemet, CA 92545-3563

    • Retail space
    • 104,713 SF
    • 7.49 lot acres
    OFF-MARKET
    Value Estimations
    $11,580,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3051967
    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

    • Minute Key / Locksmith / (Bike/Boat/Book/etc) Store
    • Plumbing Repair Service at Depot / Plumbing Service / General Contractor
    • Tool & Truck Rental Center at The Home Depot / (Bike/Boat/Book/etc) Store / Rental Equipment Company
    • The Home Depot / Building Supply / Hardware & Home Improvement
    • Garden Center at The Home Depot / Garden Center

    Property Details for 3400 Florida Ave

    Year built
    1996
    Construction
    TILT-UP CONCRETE
    Lot size
    7.49 lot acres
    Property size
    104,713 SF
    Property type
    Retail space
    APN
    448-240-007
    APU
    448240007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hemet
    County
    Riverside
    State
    California
    Longitude
    -117.008
    Latitude
    33.7491
    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
    $148,869
    $3,672,584
    $9,343,702
    $13,016,286
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      700 Sanderson Ave

      Individual retail properties
      700 Sanderson Ave, Hemet, CA 92545
      View Details
    • Value Estimation by Request
      0.37 Acres

      2200 Florida Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.37 Acres
      2200 Florida Ave, Hemet, CA 92545-3666
      View Details
    • Value Estimation
      $2,535,000
      17,740 SF

      3647 Florida Ave

      RETAIL STORES (PERSONAL SERVICES) • 17,740 SF
      3647 Florida Ave, Hemet, CA 92545-3516
      View Details
    • Value Estimation by Request
      0.39 Acres

      4602 Florida Ave

      Individual retail properties • 0.39 Acres
      4602 Florida Ave, Hemet, CA 92545
      View Details
    • Value Estimation by Request
      1.33 Acres

      Hemet, CA 92545

      RETAIL STORES (PERSONAL SERVICES) • 1.33 Acres
      Hemet, CA 92545
      View Details
    • Value Estimation by Request
      1,837 SF

      601 Sanderson Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,837 SF
      601 Sanderson Ave, Hemet, CA 92545-3657
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,500 SF

      Petco NNN Lease Extension

      Petco operated here since 2005 with new 12-year extension.
      2545 W Florida Ave, Hemet, CA 92545
      View Details
    • Contact for pricing
      4,370 SF

      Freestanding Building at Highway Intersection

      Freestanding building with income from leased drive-thru space.
      33389 Ca-74, Hemet, CA 92545
      View Details
    • Contact for pricing
      13,842 SF

      3450 Tanya Ave, Hemet, CA 92545

      Flex space • 13,842 SF
      3450 Tanya Ave, Hemet, CA 92545
      View Details
    • $199,000
      1,009,285.20 Acres

      Hemet Land Near Wine Country

      23-acre Hemet property suitable for vineyards or estate home.
      Newby Rd, Hemet, CA 92545
      View Details
    • $179,000
      1,623,481.20 Acres

      Hemet Land with Mountain Views

      37.27 acres with paved access and 360-degree views.
      Buena Vista St, Hemet, CA 92545
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Anchor Space Available

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

      Land Available for Drive-Thru/Retail

      Two parcels available for drive-thru or retail development.
      33363 Ca-74, Hemet, CA 92545
      View Details
    • $1.39 SF/Yr

      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/Restaurant Space for Lease

      Retail and restaurant spaces available for lease.
      Seq Florida Ave/Hwy 74 & Sanderson Ave, Hemet, CA 92545
      View Details
    • Contact for pricing

      Land Available for Lease/Sale

      Land available for ground lease, sale, or build-to-suit.
      700 N Sanderson Ave, Hemet, CA 92545
      View Details
    • 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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3400 Florida Ave
    Hemet, CA 92545-3563
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!