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Property profile & analytics
OFF-MARKET
Estimated value
$4,380,000
Retail space
42021 State Hwy 74, Hemet, CA 92544-5016
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-2938647
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2009
Construction
TILT-UP CONCRETE
Total area
17,340 SF
Lot
1.55 ac (67,518 SF)
Zoning code
CP
APN
551-210-040
UPID
US10-2938647
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.83M
Comparable Approach
Comparable
$5.38M
Blend (final)
Blend
$4.38M
Owner & transaction history
Phelanra LLC · 3 yrs held
Phelanra LLC
since 2022
1 recorded transaction
Zoning & alternative use
CP · Hemet, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$5.3M
+53.5%
Warehouse, storage
$5.1M
+49.3%
Industrial (general)
$3.9M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,140,000
6.5%
$3,825,000
7%
$3,550,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,430,000
Current use
APARTMENT HOUSE (5+ UNITS)
$5,265,000
Change: +53% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,125,000
Change: +49% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,865,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$4.38M
Range $3.94M – $4.82M · ±10%
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
$253 / 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
$84,716
Tax year 2024
Assessed value
$7,406,668
Assessed 2024
Previous assessed
$7,406,668
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$814,909
Assessed improvement
$6,591,759
Applied tax rate
71.0000
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
2009
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
17,340 SF
Lot
1.55 ac (67,518 SF)
Zoning code
CP
APN
551-210-040
UPID
US10-2938647
Jurisdiction
RIVERSIDE
Zoning & alternative use
CP · Hemet, CA
Zoning CP · permitted uses
CP · 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
$3.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.3M
WAREHOUSE, STORAGE
Est. value
$5.1M
INDUSTRIAL (GENERAL)
Est. value
$3.9M
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
2009
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.55 ac
Current owner
From public records · entity-resolved
Phelanra LLC
Entity
Mailing address
707 TORRANCE BLVD STE #200, REDONDO BEACH, CA 90277-3492
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Dec 28, 2022
—
Phelanra LLC
—
Deed
related
$2,860,000 · Zb NA
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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