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Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Retail space
4490 Florida Ave Hemet, CA 92544-5021
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-0015394
Property summary
AI-generated overview
This exceptional Hemet, CA retail property boasts 4,047 square feet on a 0.57-acre lot (APN 551180017, 551180016), situated on a signalized corner with an average daily traffic count of 19,313 vehicles. The single-story, 1978-built building features a 390 sq ft warehouse with a roll-up door, two restrooms, ample office space, a fully equipped kitchen, and a lounge area. The C2 zoning allows for a variety of commercial uses. The property also includes an additional 15,682 sq ft lot with existing water and power, totaling 24,830 sq ft of fully gated land. Fifteen parking spaces are available. This prime location offers excellent visibility and significant potential for expansion or redevelopment, making it an ideal investment opportunity for businesses seeking a substantial presence in a high-traffic area of Hemet, CA (zip code 92544). The property is a single-tenant building.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1978
Construction
TILT-UP CONCRETE
Total area
3,343 SF
Lot
0.21 ac (9,147 SF)
Zoning code
CP
APN
551-180-017
UPID
US09-0015394
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
$920k
CAP Approach
CAP
$735k
Comparable Approach
Comparable
$917k
Blend (final)
Blend
$870k
Owner & transaction history
Robert Feigen · 1 yrs held
Robert Feigen
since 2025
Last sale
$859,000
5 recorded transactions
Zoning & alternative use
CP · Hemet, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+118.2%
Warehouse, storage
$990,000
+49.3%
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
$920,000
ML approach
$920,000
CAP Approach
CAP Return
Estimation
6%
$800,000
6.5%
$735,000
7%
$685,000
Alternative Use
Use
Estimation
RETAIL STORES
$660,000
Current use
AUTO REPAIR, GARAGE
$1,445,000
Change: +118% · Conversion: Difficult
WAREHOUSE, STORAGE
$990,000
Change: +49% · Conversion: Difficult
MEDICAL BUILDING
$570,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$870k
Range $783k – $957k · ±10% · vs last sale $859k (Aug 5 2022)
Last sale anchor
$859k
Aug 5 2022
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
$260 / 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
$8,594
Tax year 2024
Assessed value
$758,880
Assessed 2024
Previous assessed
$758,880
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$76,500
Assessed improvement
$682,380
Applied tax rate
6.0000
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
1978
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
3,343 SF
Lot
0.21 ac (9,147 SF)
Zoning code
CP
APN
551-180-017
UPID
US09-0015394
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
$660,000
AUTO REPAIR, GARAGE
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$990,000
MEDICAL BUILDING
Est. value
$570,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
MEDICAL BUILDING
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
1978
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
Robert Feigen
Individual
Free & Clear · 1 yrs held
Mailing address
2845 E SPG ST, LONG BEACH, CA 90806-2417
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2025
—
Robert Feigen
—
Deed
related
$400,000 · Hcn Bank
Mar 25, 2025
—
Robert Feigen
4490 E Florida Avenue LLC
Grant Deed
—
Oct 27, 2022
—
4490 E Florida Ave LLC
—
Deed
related
$600,000 · Hanmi Bank
Aug 5, 2022
$859,000
4490 E Florida Ave LLC
Craig L Speir
Grant Deed
—
Jun 23, 2004
$286,500
Craig L Speir
Gremminger,tr
Grant Deed
$286,320 · Gremminger Trust
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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