1995 Florida Ave, Hemet, CA 92544
3,775 SF | Retail Building | Hemet, CA 92544 | $1,390,000 ($368/SF)
For Sale
Active
Asking Price $1,390,000
- Property Type
-
Retail
- Square Feet
- 3,775 SF
- Price / Square Foot
- $368
Listing Contacts
Albert Lopez
Property Overview
Opportunity to either lease the existing former bank which is ±3,775 SF or ground lease the parcel and replace the existing building.
Prime positioning on E Florida Ave a major retail corridor that leads to the 215 FWY
Located on the SWC of E. Florida Ave and Yale Street with visibility to ±26,688 / CPD
Within a 3-mile radius, demographics show a daytime population of 11,745 and an overall population of 66,446 with an average household income in excess of $82,200.
Surrounding national tenant mix includes Walmart Neighborhood Market, Stater Bros, Harbor Freight, Grocery Outlet, Planet Fitness, Starbucks, True Value, Taco Bell, Rent-A-Center and more
Purchase financing is available to owner-users through the Small Business Administration. Down payments are as little as 10%.
If purchased with 10% down ($139,000), the monthly loan payment is estimated at $8,074/month.
After removing principal paydown and accounting for only the interest portion of the monthly loan payment, the cost to occupy (and own) this building is approximately $1.61/SF/month - far less than the cost of leasing.
As an owner, one can benefit from the potential appreciation of the asset.
SBA financing allows for buyers to lease up to 49% of their building, creating the opportunity to further reduce occupancy costs.
Prime positioning on E Florida Ave a major retail corridor that leads to the 215 FWY
Located on the SWC of E. Florida Ave and Yale Street with visibility to ±26,688 / CPD
Within a 3-mile radius, demographics show a daytime population of 11,745 and an overall population of 66,446 with an average household income in excess of $82,200.
Surrounding national tenant mix includes Walmart Neighborhood Market, Stater Bros, Harbor Freight, Grocery Outlet, Planet Fitness, Starbucks, True Value, Taco Bell, Rent-A-Center and more
Purchase financing is available to owner-users through the Small Business Administration. Down payments are as little as 10%.
If purchased with 10% down ($139,000), the monthly loan payment is estimated at $8,074/month.
After removing principal paydown and accounting for only the interest portion of the monthly loan payment, the cost to occupy (and own) this building is approximately $1.61/SF/month - far less than the cost of leasing.
As an owner, one can benefit from the potential appreciation of the asset.
SBA financing allows for buyers to lease up to 49% of their building, creating the opportunity to further reduce occupancy costs.
Property Details
- Class
- C
- Year Built
- 1998
- Stories
- 1
- Lot Size (sq. ft)
- 19,602 SF
All available spaces
- Space
- 1st Floor
- Size
- 3,775 SF
- Condition
- Shell Space
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