Listed by Nye Commercial Advisors
$11,000,000
Hillvest Center Retail Plaza and Land
Details
Property Type Retail, Office
Sub Type Shopping Center
Square Footage 80,000
Units 80
Cap Rate 4.44%
NOI $488,000
Occupancy 97.3%
Tenancy Multi
Pro-Forma Cap Rate 10.35%
Pro-Forma NOI $1,138,316
Price per SqFt $138
Acreage 33.880
Zoning C2
Investment Type Value Add
Retail | 4.44% CAP | 80,000 SqFt
Marketing description
This Multi-Tenant retail asset on Pure Water Way delivers a thoughtfully designed floor plan that maximizes tenant visibility and operational efficiency. A blend of retail storefront along with flex space with roll up doors offers a lot of variety in the tenant mix which is a majority small business owners and many who have been at the center 10+ years
Large upside in bringing rents to more of market levels with many on month to month leases. 33 Acres - a 5 Acre Grove zoned C1 and 10 Acre Grove with Future land use allowing 6 Units per acre will allow a buyer to recapture some of the purchase back or expand the plaza.
Investment highlights
- 80 Individual units total with many combined and a large mix or retail/office/flex tenants.
- Significant Value-Add Upside: Current NOI of $488,000 has clear path to $1.14M+ stabilized - a 133% increase through lease-up and rent growth.
- Strong In-Place Occupancy: 97.3% leased (77,782 SF of 80,000 SF) with diverse local tenant base providing stable cash flow today.
- Large number of MTM and short-term leases currently well below market rents - immediate income growth potential.
- Excess Land for Future Value: 33.88 total acres includes 5-acre C1 zoned grove + 10-acre area with future land use allowing additional density (6 units/acre potential).
- Flexible C2 Zoning: Supports wide range of retail, restaurant, office, service, and flex uses
Listing Contacts
Listed by Nye Commercial Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$488,000.00
$40,666.67/mo
Valuation Metrics
0
DSCR
4.44%
Cap Rate
4.44%
ROI
Map
Zoning
AR MixedMixed UseAgricultural Residential
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View all 43 uses
View all 43 uses Last updated Jan 28, 2026 For deeper zoning details, reports are available at Zoneomics
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