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2375 W Florida Ave, Hemet, ...

Updated Oct 29, 2024

Private Investor Acquires Property From Private Family Trust For $9.5 Million In Hemet
SOLDRetail

Private Investor Acquires Property From Private Family Trust For $9.5 Million In Hemet

2375 W Florida Ave, Hemet, CA, 92545

$9,500,000

Building Size

—

Asset Type

Retail

Closing

Nov 20, 2023

About this deal

AI

The Shops at KPC Towne Centre, located at 2375 W Florida Ave, Hemet, CA, 92545, was sold for $9,500,000.00. This property encompasses three buildings with a total square footage of 20,167, situated on a two-acre site. The retail center was built in 1995 and underwent renovations in 2004, with eight tenants fully occupying the space at the time of sale. It is noted as an outparcel to KPC Towne Centre, which houses Sprouts Farmers Market, Burlington, and Regal Cinemas.

Summary of transaction details:

Matthew Mousavi, Patrick Luther, and Max Sabino of SRS’ National Net Lease Group were involved in representing the seller, while Jason Paukovits of Dream Realty Asset Management acted as the representative for the buyer in this transaction.

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$9,500,000

Retail

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Players

Matthew Mousavi

SRS Real Estate Partners

Broker

$1.1B

vol

78 deals

Broker
PI
Private InvestorBuyer
PT
Private Family TrustSeller
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Hemet Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.67%

Cash-on-Cash

-0.48%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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