FOR SALE

Multi-Tenant Shopping Center.  Built in 2016, this 7,671 SF retail

property is 100% leased to 4 tenants with an in-place NOI of $222,471.

Property Facts
Price
$4,634,812
CAP RATE
4.8%
NOI
$222,471
OCCUPANCY
100%
YEAR BUILT
2016
Building SF
7,671 SF
PARCEL SIZE
1.21 acres (52,708 SF)
Tenants
Dunkin’ Donuts, Five Guys, Jersey Mike’s Subs, MetroPCS
Property Features

The property is located at the signalized hard corner of Southwest Real Terrace and West U.S. Highway 90, with excellent access and visibility to 42,000 vehicles per day. U.S. Highway 90 is Lake City’s primary retail corridor and connects Lake City to large metropolitan areas, including Jacksonville and Tallahassee. Access to Interstate 75, Florida’s main north-south freeway, is half a mile from the site. Interstate 75 is a popular route for tourists and commercial traffic and experiences a high traffic volume. Located in Lake City’s high-traffic, leading retail area, the property is surrounded by major national tenants, including Walmart Supercenter, Lowe’s, Home Depot, and Regal Cinemas. Lake City Mall is within walking distance of the site. Anchored by Belk, JCPenney, Michaels, and T.J.Maxx, Lake City Mall has a strong base of national retailers, including Bath & Body Works, Hibbett Sporting Goods, Payless Shoes, and Kay Jewelers. The mall is the only enclosed mall in its primary trade area and serves as the prime shopping destination for residents of Columbia, Suwannee, Union, Baker, and Hamilton Counties.

 

  • Multi-tenant retail center

  • 100% leased with strong brand tenants and absolute NNN leases

  • Features a Dunkin’ Donuts drive-thru and two outdoor seating areas- one for Dunkin’ Donuts and one for Five Guys Burgers & Fries

  • Scheduled rental increases in initial terms and option periods • Hard corner, high traffic location with 42,000 AADT

  • U.S. Highway 90 is Florida’s major east-west route through major population centers, including Jacksonville and Tallahassee

  • 55 parking spaces, including three (3) handicap spaces

  • Strong retail corridor with national tenants including Wal-Mart Supercenter, Panera Bread, Wendy’s, TD Bank, and Verizon, among others.

Map
Contact Broker
Matthew Martinez
Principal