Multi-Family

43645 CA-74

43645 CA-74, Hemet, CA 92544

Listing Price: $3,390,000

Lot Size
13.75 acres
Price/Acre
$246,545
Land Type
Redevelopment

Investment Overview

Marcus & Millichap is pleased to offer for sale 13.75 acres of zoned Commercial vacant land in Hemet, California. The subject acreage is located on East Florida Avenue (State Highway 74) and is ideal for the development of a multi-tenant retail center. Approximately 12 acres, or 87%, is zoned commercial. Approximately 2 acres, or 13%, is zoned residential. This major commercial corridor has traffic counts along Florida exceeding 18,000 vehicles daily. Directly across Florida Avenue is a retail center with Stater Bros. Market and CVS pharmacy. Additional nearby retail establishments include Walgreens, Family Dollar, Dollar Tree, Taco Bell, Carl's Junior, Jack-in-the-Box, Rite Aid and a Chevron gas station. New Construction Retail rents along this stretch of Florida Avenue range from $1.50 to $3.00 per square foot. Of the 27 cities in Riverside County, Hemet currently ranks as the seventh highest in population and fourth highest in the number of housing units and is poised for continued growth in the future. Hemet is located in the San Jacinto Valley in Riverside County, off of Interstate 215 where California State Routes 74 and 79 converge, 42 miles southeast of Riverside. Hemet covers a total area of 27,847-square miles, and half of the Valley, which it shares with the neighboring city of San Jacinto. The population was 78,657 at the 2010 census. The area’s proximity to employment centers such as Corona, Riverside and San Bernardino, plus its relatively rural character and affordability make it a more attractive location for working-class families than other areas of Southern California. Hemet is currently experiencing a major influx in commercial and residential subdivision developments. Over 26 commercial and hotel projects are in planning and/or under construction, with a majority of the projects located along Florida Avenue. In conjunction, dozens of brand new homes are being brought to market in the surrounding suburban neighborhoods, including Wildflower at Stoney Mountain Ranch, a high end subdivision at the base of the San Jacinto Valley vistas. Hemet is quickly becoming a premiere destination for live/work/play of the San Jacinto Valley.

Investment Highlights

  • Rare nearly 14 acre Commercial Development Opportunity
  • Strong Hemet Location
  • Strong Demographics
  • High Traffic Counts
  • Excellent Access and Visibility

Exclusively Listed By

Listing Price: $3,390,000

Lot Size
13.75 acres
Price/Acre
$246,545
Land Type
Redevelopment

Investment Highlights

  • Rare nearly 14 acre Commercial Development Opportunity
  • Strong Hemet Location
  • Strong Demographics
  • High Traffic Counts
  • Excellent Access and Visibility

Investment Overview

Marcus & Millichap is pleased to offer for sale 13.75 acres of zoned Commercial vacant land in Hemet, California. The subject acreage is located on East Florida Avenue (State Highway 74) and is ideal for the development of a multi-tenant retail center. Approximately 12 acres, or 87%, is zoned commercial. Approximately 2 acres, or 13%, is zoned residential. This major commercial corridor has traffic counts along Florida exceeding 18,000 vehicles daily. Directly across Florida Avenue is a retail center with Stater Bros. Market and CVS pharmacy. Additional nearby retail establishments include Walgreens, Family Dollar, Dollar Tree, Taco Bell, Carl's Junior, Jack-in-the-Box, Rite Aid and a Chevron gas station. New Construction Retail rents along this stretch of Florida Avenue range from $1.50 to $3.00 per square foot. Of the 27 cities in Riverside County, Hemet currently ranks as the seventh highest in population and fourth highest in the number of housing units and is poised for continued growth in the future. Hemet is located in the San Jacinto Valley in Riverside County, off of Interstate 215 where California State Routes 74 and 79 converge, 42 miles southeast of Riverside. Hemet covers a total area of 27,847-square miles, and half of the Valley, which it shares with the neighboring city of San Jacinto. The population was 78,657 at the 2010 census. The area’s proximity to employment centers such as Corona, Riverside and San Bernardino, plus its relatively rural character and affordability make it a more attractive location for working-class families than other areas of Southern California. Hemet is currently experiencing a major influx in commercial and residential subdivision developments. Over 26 commercial and hotel projects are in planning and/or under construction, with a majority of the projects located along Florida Avenue. In conjunction, dozens of brand new homes are being brought to market in the surrounding suburban neighborhoods, including Wildflower at Stoney Mountain Ranch, a high end subdivision at the base of the San Jacinto Valley vistas. Hemet is quickly becoming a premiere destination for live/work/play of the San Jacinto Valley.

Exclusively Listed By

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