736 N State St
Hemet, CA 92543
State Street Professional Plaza · Office Property For Sale

This investment provides an investor or an owner/user the opportunity to acquire a Spanish-style, two-story professional building with an ideal central location within the Hemet valley. At $79.71/square foot, a new purchaser will be acquiring this asset significantly below replacement costs. With improved occupancy and small rental increases, the proforma capitalization rate will improve to nearly 8.29% with a cashflow of 10%. An owner/user may also be able to obtain favorable Small Business Administration (SBA) financing taking advantage of today’s low interest rates. Effectively, it may be more economical to own the building rather than to lease space elsewhere considering today’s low interest rates and the potential tax advantages of real estate ownership. The State Street Office Plaza is an approximately 26,250 square foot , twostory professional office building with a central courtyard. The property was built in 1980 with a lot size of 0.90 acres of fee-simple land. The Plaza also has ample parking, separate electric meters and offers excellent street frontage and visibility on a major commercial corridor. Additional features include a former condo map, the first floor suites have patios and the second floor suites have balconies. Leases are done on a modified gross basis which includes water, trash and common area maintenance. The property offers easy access to shopping, restaurants, the Court House, City Hall, the Hemet Valley Medical Center and other services.