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41267 State Highway 74 1,086 SF 100% Leased Retail Building Hemet, CA 92544 $499,900 ($460.31/SF) 7.14% Cap Rate
Investment Highlights
- 7.14 Cap Rate
- High-visibility corner lot
- 826 sq ft building with functional office layout
- Zoned CPS
- Two parcels totaling 27,006 sq ft
- Month-to-month tenant – vacant delivery available
Executive Summary
Prime Corner Commercial Opportunity – Zoned CPS. Excellent opportunity to acquire a well-located commercial property zoned CPS, ideal for an owner-user or investor. Situated on a high-visibility corner lot, this property offers strong street presence and flexible use potential. The 826 sq ft building features an efficient layout with open workspace, two private offices, a bathroom, and a kitchenette, making it suitable for a variety of professional or service-oriented uses. The property includes two parcels totaling 27,006 sq ft, providing valuable land size for expansion, additional parking, or future development (buyer to verify uses with the city). Currently rented month-to-month, offering immediate income with a 7.14% cap rate, while also allowing the property to be delivered vacant at close for an owner-user or repositioning opportunity.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$42,000
|
$38.67
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$42,000
|
$38.67
|
| Taxes |
$5,800
|
$5.34
|
| Operating Expenses |
$500
|
$0.46
|
| Total Expenses |
$6,300
|
$5.80
|
| Net Operating Income |
$35,700
|
$32.87
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $42,000 |
| Annual Per SF | $38.67 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $42,000 |
| Annual Per SF | $38.67 |
| Taxes | |
|---|---|
| Annual | $5,800 |
| Annual Per SF | $5.34 |
| Operating Expenses | |
|---|---|
| Annual | $500 |
| Annual Per SF | $0.46 |
| Total Expenses | |
|---|---|
| Annual | $6,300 |
| Annual Per SF | $5.80 |
| Net Operating Income | |
|---|---|
| Annual | $35,700 |
| Annual Per SF | $32.87 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
1,086 SF
Building Class
B
Year Built
1935
Price
$499,900
Price Per SF
$460.31
Cap Rate
7.14%
NOI
$35,693
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.10
Lot Size
0.24 AC
Opportunity Zone
Yes
Zoning
CP
Parking
30 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
119’ on E Florida Ave
Amenities
- Bus Line
- Pylon Sign
- Signage
Fairly walkable
40/100
Exceptionally drivable
100/100
Some public transit
50/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 438-200-005 | Total Assessment | $125,763 |
| Land Assessment | $32,807 | Annual Taxes | $5,800 ($5.34/SF) |
| Improvements Assessment | $92,956 | Tax Year | 2025 |
Property Taxes
Parcel Number
438-200-005
Land Assessment
$32,807
Improvements Assessment
$92,956
Total Assessment
$125,763
Annual Taxes
$5,800 ($5.34/SF)
Tax Year
2025
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41267 State Highway 74
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