7601 Horse Lake Rd, Brooksville, FL 34601 For Sale

100% OCCUPIED RETAIL PLAZA

Horse Lake Plaza is a fully leased, 12,450-square-foot retail strip center built in 2009 and situated on a large ±25-acre parcel, providing stable in-place cash flow with future value-add component.

FUTURE DEVELOPMENT OPPORTUNITY

Of the total 25-acre parcel, approximately 5 acres are located outside designated flood zone and wetland areas, offering exceptional potential for future development across a variety of uses, including retail, office, medical, or hospitality. Benefits from direct proximity to Hernando County Sheriff’s Office and Public Schools Office.

ESTABLISHED LOCAL TENANT BASE WITH COMMITMENT TO SITE

Tenants include a mix of long-standing local operators such as Beef ‘O’ Brady’s, Brooksville Optical, and Hart’s Meat Market. Brooksville Optical is currently negotiating a lease extension, while the anchor operator willing to execute a new lease at closing, ensuring continued stability.

TRIPLE NET LEASE STRUCTURE | LIMITED LANDLORD RESPONSIBILITY

All tenants operate under NNN leases, reimbursing a fixed monthly estimate for CAM, insurance and property taxes. Tenants maintain the property with landlord responsibilities limited to roof, exterior walls and structural foundation.

STRONG RENT GROWTH POTENTIAL IN EXPANDING SUBMARKET

The subject property’s average rent of $19.37 per square foot is below the Hernando County submarket average of approximately $22 per square foot NNN, indicating an attractive 15–20% potential upside in rental income.

DENSE RETAIL TRADE AREA WITH EXCELLENT VISIBILITY

The subject property is ideally positioned within proximity to a top 9% nationally ranked Publix and a top 20% nationally ranked Lowe’s (per Placer.ai). It also benefits from close proximity to Walmart and numerous other nationally recognized retailers, collectively driving over 5 million annual visitors to the immediate trade area.

UNPRECEDENTED GROWTH IN BROOKSVILLE SUBMARKET

Located in Hernando County, one of the fastest-growing areas north of Tampa. The property is surrounded by residential expansion, new commercial developments, and a rising population base with household income growth projected over the next five years. Currently 20 projects approved along state road 50, with 3.8M SF of commercial property and 8,000 residential units approved and 2,000 additional pending approval.