Listed by Matthews
$5,240,000
Stone Brook Plaza
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 20,500
Net Rentable (SqFt) 20,500
Units 11
Cap Rate 6.03%
NOI $316,099
Occupancy 100%
Price per SqFt $256
Year Built 2002
Buildings 1
Stories 1
Acreage 4.340
Ground Lease No
Publix-Adjacent 100% Occupied NNN Shopping Center with Value-Add Upside in Pace, FL
Investment highlights
- (Value-Add) Majority of Leases Turning Within the Next Year: The property features an exceptionally short weighted average lease term (WALT) of approximately 0.2 years, providing investors near-term control over the rent roll. This structure allows for repositioning, tenant upgrades, and re-tenanting at current market rates rather than being locked into legacy leases.
- Below-Market In-Place Rents with Mark-to-Market Upside: In-place rents average approximately $15 PSF, while comparable neighborhood retail in the broader Pensacola–Pace market supports higher asking rents. This gap presents a clear path to NOI growth through renewals, re-leasing, and tenant turnover.
- Publix-Adjacent Location with Built-In Traffic Drivers: Stone Brook Plaza is strategically positioned adjacent to a Publix-anchored shopping center, benefiting from consistent daily traffic and necessity-based consumer draw. This adjacency supports long-term tenant demand and enhances leasing velocity for small shop space.
- All NNN Leases: All of the tenants operate under triple-net (NNN) lease structures, providing reimbursement of taxes, insurance, and CAM expenses. This reduces landlord expense exposure and enhances operating efficiency.
- Oversized Parcel with Long-Term Flexibility: The property sits on an oversized parcel relative to its current footprint, offering future optionality for site reconfiguration, pad development, or enhanced circulation, subject to municipal approvals.
- Strong Suburban Demographics with Continued Growth: Pace is a rapidly growing suburban community within the Pensacola MSA, supported by residential expansion and commuter demand. Average household incomes exceed $97,000 within a five-mile radius, reinforcing durable retail fundamentals.
- Attractive Basis Relative to Replacement Cost: The offering allows investors to acquire a well-located neighborhood retail asset at a basis below replacement cost while executing an active management strategy to drive future income growth.
Listing Contacts
Listed by Matthews
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$316,099.00
$26,341.58/mo
Valuation Metrics
0
DSCR
6.03%
Cap Rate
6.03%
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Brokerage
Brokerage Phone
Title
Brokerage Address
Name
License
Brokerage Phone
Is there information that looks off?
