Listed by SRS Real Estate Partners Tampa, SRS Real Estate Partners New York
$8,910,000
Brand New 100% Leased Two Buildings
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 12,525
Cap Rate 6.1%
NOI $543,524
Occupancy 100%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Class A
Year Built 2024
Buildings 2
Acreage 1.030
Zoning PD - Planned Development
Parking Spaces 225 spaces
Parking Per SqFt 17.96
Investment Type Stabilized
Ground Lease No
Retail | 6.10% CAP | 12,525 SqFt
Marketing description
The property consists of two, new, 100% leased mixed-use buildings, consisting of multi-tenant occupancy located at 6156 & 6162 Paseo Al Mar Boulevard in Apollo Beach, Florida. This two building, multi-tenant retail center investment opportunity features approximately 9 years of weighted average lease term (WALT) remaining with all leases having multiple options to extend and scheduled rent increases.
Investment highlights
- Brand New 100% Leased Two Building Multi-Tenant Asset | 9 Years Of WALT Remaining | Options to Extend | Scheduled Rental Increases
- The property consists of two, new, 100% leased mixed-use buildings, consisting of multi-tenant occupancy
- Approximately 9 years of weighted average lease term (WALT) remaining
- All leases have multiple options to extend and scheduled rent increases
- NNN Leases | Limited Landlord Responsibilities | No Income Tax State | Fee Simple Ownership
- Tenant pays for CAM, taxes and insurance
- Limited landlord responsibilities
- The offering includes the Declarant parcel, providing enhanced control over the property and broader development through associated POA rights, while also allowing the buyer the option to relinquish Declarant responsibilities and transition control to the Property Owners Association (POA) if a lower-management structure is preferred
- Ideal, low-management investment for an out-of-state, passive investor in a state that has no income tax
- Strong Demographics In Local Trade Area | Six Figure Income | Annual Population Growth
- More than 136,900 residents occupy the 5-mile trade area
- The average household income exceeds $155,480 within 1-mile radius of the subject property
- Corner Location Along US Hwy 41 | Excellent Visibility & Access | Adjacent 636 Units Luxury Apartments
- The asset is located near the intersection of US Hwy 41 and Paseo Al Mar Blvd., with a combined 59,100 VPD
- The asset has excellent visibility and multiple points of ingress/egress
- There are 636 luxury apartments within walking distance of the subject property
- Close to Publix-Anchored Shopping Center | National Credit Tenants
- The subject property is located across the street from Apollo Beach Plaza, a Publix-anchored shopping center, and adjacent to a Crunch Fitness-anchored center currently under development
- Surrounding national credit tenants include: Dunkin', Bank of America, 7-Eleven, Starbucks, Anytime Fitness, CVS and many more
- Strong tenant synergy promotes crossover shopping to the subject property
- New 84-Acre SouthShore Sports Sportsplex Development
- The SouthShore Sports Sportsplex covers approximately 84 acres and features four synthetic-turf athletic fields, making it home to one of the largest contiguous synthetic fields in the nation
- SouthShore Sports Sportsplex will be located across US Hwy 41, less than one mile from The Yard at Waterset
Listing Contacts
Listed by SRS Real Estate Partners Tampa, SRS Real Estate Partners New York
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$543,524.00
$45,293.67/mo
Valuation Metrics
0
DSCR
6.1%
Cap Rate
6.1%
ROI
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