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Auction - May 4-6 - Former Rite Aid 42021 Florida Ave 17,340 SF Retail Building Hemet, CA 92544 For Sale
Investment Highlights
- Significant Infill Value-Add Opportunity Through Repositioning or Redevelopment
- Excellent Positioning With Clear Sight to Both Sides of Building For Signage
- Signalized Hard Corner Location at the Bustling Intersection of Florida Ave. and South Meridian Ave., Which Sees Over 29,000 Cars Per Day
- Valued for Sale at Well Below Replacement Cost
- Ceiling Height Approximately 14’ to 19’
- Generous Parking Ratio of 5.04:1000 SF with a Total of 87 Parking Stalls
Executive Summary
Get Auction & Full Property Information from the listing broker.
Starting Bid: $500,000
Auction Event: May 4-6, 2026
Starting Bid: $500,000
Auction Event: May 4-6, 2026
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$43,750
|
$2.52
|
| Operating Expenses |
$13,005
|
$0.75
|
| Total Expenses |
$56,755
|
$3.27
|
Financial Summary (Actual - 2024)
| Taxes | |
|---|---|
| Annual | $43,750 |
| Annual Per SF | $2.52 |
| Operating Expenses | |
|---|---|
| Annual | $13,005 |
| Annual Per SF | $0.75 |
| Total Expenses | |
|---|---|
| Annual | $56,755 |
| Annual Per SF | $3.27 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
17,340 SF
Building Class
C
Year Built
2009
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
1.55 AC
Zoning
C3 - Zoning: C-3 (General Commercial) – Hemet, CA
Zoning Type:
• C-3: General Commercial
Intent:
• Designed for high-intensity commercial use, typically in
Parking
87 Spaces (5.02 Spaces per 1,000 SF Leased)
Fairly walkable
40/100
Very drivable
80/100
Some public transit
40/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 551-210-040 | Total Assessment | $7,554,801 (2025) |
| Land Assessment | $831,207 (2025) | Annual Taxes | $43,750 ($2.52/SF) |
| Improvements Assessment | $6,723,594 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
551-210-040
Land Assessment
$831,207 (2025)
Improvements Assessment
$6,723,594 (2025)
Total Assessment
$7,554,801 (2025)
Annual Taxes
$43,750 ($2.52/SF)
Tax Year
2024
Contacts
-
Ara Rostamian -
Ivan Prochko -
Orbell Ovaness -
Mike Banwell -
Bryce Dunks -
Marcus & Millichap
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Auction - May 4-6 - Former Rite Aid | 42021 Florida Ave
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