±3,775 SF Building for Ground Lease/Sale
1995 E Florida Ave
Hemet, CA 92544
FOR SALE
Property Type:
Free Standing BuildingAmount:
$1,390,000
Last Verified:
Feb 08, 2024Highlights
- Opportunity to either lease the existing former bank which is ±3,775 SF or ground lease the parcel and replace the existing building.
- Prime positioning on E Florida Ave a major retail corridor that leads to the 215 FWY
- Located on the SWC of E. Florida Ave and Yale Street with visibility to ±26,688 / CPD
- Within a 3-mile radius, demographics show a daytime population of 11,745 and an overall population of 66,446 with an average household income in excess of $82,200.
- Surrounding national tenant mix includes Walmart Neighborhood Market, Stater Bros, Harbor Freight, Grocery Outlet, Planet Fitness, Starbucks, True Value, Taco Bell, Rent-A-Center and more
- Purchase financing is available to owner-users through the Small Business Administration. Down payments are as little as 10%.
- If purchased with 10% down ($139,000), the monthly loan payment is estimated at $8,074/month.
- After removing principal paydown and accounting for only the interest portion of the monthly loan payment, the cost to occupy (and own) this building is approximately $1.61/SF/month - far less than the cost of leasing.
- As an owner, one can benefit from the potential appreciation of the asset.
- SBA financing allows for buyers to lease up to 49% of their building, creating the opportunity to further reduce occupancy costs.
Description
Opportunity to either purchase or lease the existing building
SWC of Florida Ave & Yale Street
Year Built: 1986
Building Size: 3660sq ft
Lot Size: 0.45 acres