Oakstead Corner Plaza
Oakstead Corner Plaza - Three Tenant Medical/Service Center | New Advent Health Lease
Marketing description
RIPCO Real Estate is pleased to offer for sale Oakstead Corner Plaza, a 8,400 SF, three-tenant medical-focused center located at 19721–19729 State Road 54 in Lutz, Florida. The property is 100% occupied by a recession-resilient, needs-based tenant mix comprised of AdventHealth, Sage Dental, and Bliss Family Veterinarian, all operating under NNN leases with expense reimbursement structures that insulate the landlord from operating cost exposure. This asset is positioned at the signalized intersection of SR 54 and Oakstead Boulevard, one of the primary commercial corridors in the rapidly growing State Road 54 submarket of the Tampa Bay MSA. This stretch of State Road 54 has an AADT of 60,000 and is expected to increase by more than 50% by 2045 according to FDOT (Florida Department of Transportation), reflecting the exceptional growth trajectory of this corridor. Population within a mile of the site is expected to increase by 3.55% annually over the next 5 years, far exceeding the national average of 0.5%. Within a 3-mile radius, there is a population of 48,933 and an average household income of $159,211.
The asset represents an attractive investment opportunity for investors seeking stable, passive cash flow backed by a nationally recognized healthcare anchor in AdventHealth (S&P: AA) alongside a regional dental service organization and a neighborhood veterinary practice. All three tenants are destination-based, service-oriented uses that are insulated from e-commerce headwinds and drive consistent consumer traffic to the center. The result is a low-management, fully stabilized asset with credit-backed income, a 6.2-year WALT, and a location in one of Tampa Bay’s most supply-constrained, high-growth suburban corridors.
Investment highlights
NATIONAL CREDIT ANCHOR TENANT
- AdventHealth is one of the largest nonprofit, faith-based health systems in the United States, operating 57 hospitals across 9 states and generating $23 billion in revenue in 2025
- AdventHealth carries an “AA” credit rating from S&P and is recognized for an exceptional financial profile characterized by strong operating results and sizable market share
- AdventHealth is investing approximately $600,000 into building out their space and signed a 5-year lease with four 5-year options to extend, demonstrating a long-term commitment to the site
STABLE CASH FLOW
- The property is 100% occupied with all three tenants on NNN leases, providing stable cash flow with minimal landlord responsibilities
- The tenant mix is anchored by healthcare and veterinary services, two of the most e-commerce-resilient, destination-based uses in retail real estate. The WALT is over 6 years, providing further reliability to the income stream
- Sage Dental is a leading dental service organization (DSO) with over 150 locations across Florida and Georgia
HIGH GROWTH CORRIDOR/SUBMARKET
- The property is located on the signalized intersection of State Road 54 and Oakstead Blvd, with a combined AADT of 76,500
- Pasco County is among Florida’s fastest-growing counties, and the State Road 54 corridor has experienced explosive population growth. According to FDOT, AADT is expected to increase by over 50% over the next 20 years
- The center benefits from strong co-tenancy with nearby retailers and QSRs along the SR 54 corridor, generating consistent drive-by traffic and supporting the center’s daily-needs
DESIRABLE DEMOGRAPHICS
- 48,933 population within a 3-mile radius
- $159,211 average household income within a 3-mile radius
- Population within a mile of the site is expected to increase by 3.55% annually over the next 5 years, far exceeding the national average of 0.5%
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
