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44518 Florida Ave 1,024 SF Specialty Building Offered at $869,900 at a 9.66% Cap Rate in Hemet, CA 92544
Investment Highlights
- • Rare Cannabis Zoning: Situated within the Riverside County CPS zone, allowing for highly coveted retail cannabis dispensary operations & cultivation
- • Significant Development Scale: 1.54 Acres (±66,211 SF) of flat, usable land providing ample footprint for a flagship facility, expansive parking
- • Perfectly suited for cannabis owner-operators looking to establish a footprint rapidly, or commercial developers seeking a high-yield retail project
- • Premium Corner Location: Strategic corner-lot positioning offering exceptional visibility, massive street frontage, and optimal ingress/egress point
- • Value-Add / Income Upside: Phenomenal potential to develop a strip center or shopping mall, allowing investors to diversify
- • High-Barrier-to-Entry Asset: Premium retail-zoned land permitting cannabis use is increasingly scarce, making this a highly liquid asset
Executive Summary
Prime 1.54-Acre Retail Corner | Rare Riverside County CPS Zoning | Permitted Cannabis Dispensary & Cultivation Site with Shopping Center Development Upside
Property Overview: Presenting an exceptional commercial real estate investment opportunity: a high-visibility, 1.54-acre (approx. 67,082 SF) prime corner parcel situated in a rapidly growing corridor of Riverside County. Featuring versatile CPS (Commercial Retail) zoning, this property is uniquely positioned as a fully permitted zone for both Cannabis Dispensary Operations and Cultivation.
With "Green Zone" commercial retail properties facing increasingly strict local buffers and severe scarcity, this asset offers immediate, high-barrier-to-entry positioning for a flagship cannabis operator or a developer looking to secure a premium credit tenant.
The expansive acreage and strategic corner layout provide unmatched street frontage and high traffic counts, offering the scale required for a substantial multi-tenant retail development. Investors can capitalize on immediate cannabis operations while simultaneously planning a phased shopping center development to generate diverse, long-term NNN lease income streams.
Whether executing an owner-user strategy, looking for a rapid-launch cannabis site, or seeking a rare land asset with explosive appreciation and cash-flow potential, this property ticks every box for institutional and private capital alike.
Property Overview: Presenting an exceptional commercial real estate investment opportunity: a high-visibility, 1.54-acre (approx. 67,082 SF) prime corner parcel situated in a rapidly growing corridor of Riverside County. Featuring versatile CPS (Commercial Retail) zoning, this property is uniquely positioned as a fully permitted zone for both Cannabis Dispensary Operations and Cultivation.
With "Green Zone" commercial retail properties facing increasingly strict local buffers and severe scarcity, this asset offers immediate, high-barrier-to-entry positioning for a flagship cannabis operator or a developer looking to secure a premium credit tenant.
The expansive acreage and strategic corner layout provide unmatched street frontage and high traffic counts, offering the scale required for a substantial multi-tenant retail development. Investors can capitalize on immediate cannabis operations while simultaneously planning a phased shopping center development to generate diverse, long-term NNN lease income streams.
Whether executing an owner-user strategy, looking for a rapid-launch cannabis site, or seeking a rare land asset with explosive appreciation and cash-flow potential, this property ticks every box for institutional and private capital alike.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
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-
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| Other Income |
-
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-
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| Vacancy Loss |
-
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-
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| Effective Gross Income |
-
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-
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| Net Operating Income |
$84,000
|
$82.03
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $84,000 |
| Annual Per SF | $82.03 |
Property Facts
| Price | $869,900 | Lot Size | 1.52 AC |
| Price Per SF | $849.51 | Building Size | 1,024 SF |
| Sale Type | Investment or Owner User | No. Stories | 1 |
| Cap Rate | 9.66% | Year Built | 1958 |
| Property Type | Specialty | ||
| Zoning | C2 - Riverside county CPS zoning. In the green zoned. Zoned for Cannabis dispensary. | ||
| Price | $869,900 |
| Price Per SF | $849.51 |
| Sale Type | Investment or Owner User |
| Cap Rate | 9.66% |
| Property Type | Specialty |
| Lot Size | 1.52 AC |
| Building Size | 1,024 SF |
| No. Stories | 1 |
| Year Built | 1958 |
| Zoning | C2 - Riverside county CPS zoning. In the green zoned. Zoned for Cannabis dispensary. |
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Not walkable
10/100
Exceptionally drivable
100/100
Some public transit
50/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 548-092-037 | Improvements Assessment | $606,161 (2026) |
| Land Assessment | $259,782 (2026) | Total Assessment | $865,943 (2026) |
Property Taxes
Parcel Number
548-092-037
Land Assessment
$259,782 (2026)
Improvements Assessment
$606,161 (2026)
Total Assessment
$865,943 (2026)
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44518 Florida Ave