Description
The Hemet Strip Center, a 25,860 SF retail property, presents a stabilized investment opportunity with a 6.60% cap rate and a net operating income (NOI) of $204,797. Built in 1963, this well-maintained strip center is situated on 0.80 acres at 1235 East Florida Ave in Hemet, California, and benefits from a high-visibility location with a traffic count of over 33,000 vehicles per day.
The center has a gross leasable area of 12,930 SF and is currently 91% occupied, with 1,100 SF available for lease, offering potential for additional income growth. The property is strategically located in...
Documents
Offering Summary
- Asking Price$3,100,000
- Property TypeRetail
- Size25,860 SF
- Available1,100 SF
- Occupancy100%
- Built1963
- Total Acres~0.80 ac
Sale Details
- Cap Rate6.60%
- NOI$204,797
- In-Place Cap Rate6.60%
- In-Place NOI$204,797
- In-Place Rents2,445
Documents
Property Address
Property Details
- Property TypeRetail
- Square Feet12,930 SF
- Occupancy91%
- Year Built1963
- TenancyMulti
- AmenitiesVisibility & Signage, Site & Outdoor Visibility & Signage: Pylon Signage Site & Outdoor: Landscaped Areas
- Operating Expenses ($/SF/yr)6.28 $/SF/yr
- Lease TypeNNN
- APN445-261-019, 445-261-020, 445-261-021
- Gross Leasable Area12,930 SF
- Available GLA1,100 SF
- Inline SF12,930 SF
- Traffic Count33,029 AADT
- Signage RightsPylon... Pylon, Building-Mounted
- Acres0.80
Property Details
Deal Team
Description
The Hemet Strip Center, a 25,860 SF retail property, presents a stabilized investment opportunity with a 6.60% cap rate and a net operating income (NOI) of $204,797. Built in 1963, this well-maintained strip center is situated on 0.80 acres at 1235 East Florida Ave in Hemet, California, and benefits from a high-visibility location with a traffic count of over 33,000 vehicles per day.
The center has a gross leasable area of 12,930 SF and is currently 91% occupied, with 1,100 SF available for lease, offering potential for additional income growth. The property is strategically located in...
Documents
Offering Summary
- Asking Price$3,100,000
- Property TypeRetail
- Size25,860 SF
- Available1,100 SF
- Occupancy100%
- Built1963
- Total Acres~0.80 ac
Sale Details
- Cap Rate6.60%
- NOI$204,797
- In-Place Cap Rate6.60%
- In-Place NOI$204,797
- In-Place Rents2,445
Documents
Property Address
Property Details
- Property TypeRetail
- Square Feet12,930 SF
- Occupancy91%
- Year Built1963
- TenancyMulti
- AmenitiesVisibility & Signage, Site & Outdoor Visibility & Signage: Pylon Signage Site & Outdoor: Landscaped Areas
- Operating Expenses ($/SF/yr)6.28 $/SF/yr
- Lease TypeNNN
- APN445-261-019, 445-261-020, 445-261-021
- Gross Leasable Area12,930 SF
- Available GLA1,100 SF
- Inline SF12,930 SF
- Traffic Count33,029 AADT
- Signage RightsPylon... Pylon, Building-Mounted
- Acres0.80
Property Details
Deal Team
