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Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 27,600 sqft
Price per Sqft $134
MLS Listing ID CC853211
HOA Y/N No
Year Built 1984
Annual Tax Amount $24,200
Lot Size 2.360 Acres
Acres 2.36
Lot Dimensions 400x300
Property Sub-Type Retail
Source Citrus
Property Description
This well-maintained center offers a versatile mix of suite sizes ranging from 720 SF to 3,200 SF and is occupied by a diverse tenant base including medical and professional offices, retail businesses, beauty services, and other long-standing local tenants. The storage component includes 52 units, providing an additional and complementary income stream.
With significant room for growth, investors have the opportunity to enhance revenue by aligning below-market rental rates and implementing standard NNN expense recoveries for CAM, insurance, and real estate taxes, which are currently limited. Combined with modest rent adjustments and the leasing of two vacant retail units, a new owner has the potential to increase net operating income to a 7.74% cap rate, while maintaining minimal vacancy in the storage component.
Location
State FL
County Citrus
Zoning CH,GNC
Interior
Cooling Central Air
Flooring Laminate, Slate
Exterior
Parking Features Driveway, Parking Pad, Open
View Y/N No
Water Access No
Roof Type Shingle
Attached Garage false
Garage false
Private Pool No
Building
Lot Description Cleared, Wooded
Foundation Slab
Lot Size Range 2 to less than 5
Sewer Septic Tank, Public Sewer
Water Public
Structure Type Stucco,Block
New Construction false
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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