Highlights; Unparalleled Current Cap Rate of 6.83%. Owner Recently Executed a New 5 Year Lease With Built-in Rental Increases for Discount Retailer / The offering represents a true value-add asset, with below market rents & month-to-month tenants / Property wide rents average $0.98 PSF/month. / Signalized Corner Lot Anchored by New Taco Bell(NAP) / Neighboring Rental Comparables Illustrate a 90% -95% Occupancy Market Area.Property has tremendous upside with ProForma CAP Rate of 8.08%. DRIVE BY ONLY PLEASE DO NOT DISTURB THE TENANTS.Hemet Town Plaza (the Property), a 58,035 SF singles tory, multi-tenant center located in the city of Hemet, Riverside County, California. The property is ideally located on Florida Avenue a major regional thoroughfare for the immediate trade area. The plaza consists of four separate buildings, situated on (3) parcels, totaling 4.56-acres. The property configuration, visibility, zoning, ample parking, available suites ranging from 750-7,275 Sq. Ft. and strategic location, all contribute, to make the Hemet Town Plaza an ideal location for a diverse tenant base. Surrounding retail properties demonstrate a constant growing market and operate at nearly a 95% occupancy rate. The property is currently 88%+/- occupied with tremendous upside upon leasing out vacant space. The offering represents a true value-add asset, with below market rents, month-to-month tenants and a rare opportunity to reposition a pad building, with a premium location, on Florida Avenue frontage. Potential investor shave the opportunity to produce significant cash-flow, through aggressive management, marketing, continued rehabilitation and stabilization of the asset.
Some words will not translate correctly. By using this feature, you accept this risk and agree to release Berkshire Hathaway HomeServices and its franchisees from any claims or damages resulting from incorrect translation.
Berkshire Hathaway HomeServices does not endorse any of the products or vendors, referenced on this material.
Any mention of vendors, products, or services is for informational purposes only.
Member of: Berkshire Hathaway HomeServices Real Time Realty, (831) 444-8500 Agent Login | Agent CRM Login
Our website uses cookies, including third parties’ profiling cookies, to improve your user experience. You can learn more about how we use cookies and how to change your
cookies settings in our Privacy Policy. By closing this message, clicking above or continuing to use this site, you consent to our use of cookies.