33389 Old State Hwy - Freestanding FOR SALE


Hemet, CA 92545
$2,500,000 USD
909-230-4500
33389 Old State Hwy, Hemet, CA for Sale
$2,500,000 USD
Freestanding - FOR SALE
1/5
null | Request Cap Rate

33389 Old State Hwy
Hemet, CA 92545


OVERVIEW

±2,702 SF Available to Occupy Immediately Income from Leased Drive-Thru Space – Alberto’s Mexican Restaurant is currently paying $7,200/month with 3% annual increases. Their space features an extensive build-out, including an underground grease interceptor and hood system. They recently executed a 5-year extension to February 2029 (with an option to extend to 2034), demonstrating their continued commitment to the site. High Traffic Location – Located at the intersection of Highway 74 & Highway 79 (Winchester Road) with visibility to ±45,900 cars per day. Centrally Located – ±167,200 residents live within a 15-minute drive of the property. Highways 74 and 79 make the property easily accessible to residents in Perris, Hemet, San Jacinto, Menifee, and the French Valley. Ideal for Dentist, Medical Professional, Retailer, Restaurant, & More Cannabis License Potentially Available – Call for details. Purchase financing is available to owner-users through the Small Business Administration. Down payments as low as 10%. If purchased with 10% down ($250,000), the monthly loan payment is estimated at $14,700/month. Accounting for $7,200 of monthly gross rent from Alberto’s, the effective cost to occupy the remaining 2,702 SF is $7,500. The monthly principal paydown is an additional $3,400/month benefiting an owner, bringing the total effective cost to occupy the remaining 2,702 SF to just $4,100/month, or $1.52/SF – far less than leasing! 2018 High Quality Construction – The property features best in class construction, including a concrete parking lot, drought tolerant landscaping, monument signage, stone columns, metal tin facia, LED parking lot lighting, and more.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$801 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Freestanding Building with Rental Income

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Restaurant, Medical

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

21

LAND DETAILS

LAND ACRES

0.76 AC

LAND SF

32,920 SF

ZONING

RR

APN/PARCEL ID

458-110-012

ASK ABOUT THIS PROPERTY

Albert LopezProgressive Real Estate PartnersMore Info
909-230-4500

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Albert LopezProgressive Real Estate PartnersMore Info
909-230-4500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.