For Sale
$2,650,000

3451 Louise LnHernando, FL 34442

13-Unit Shopping Center, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
This prime 13-unit retail plaza, totaling 25,500 square feet, presents a compelling investment opportunity. Located in Hernando, Florida, on a 3.27-acre lot with 632 feet of highway frontage on SR 200, this property benefits from high visibility and excellent access. The center features 71 parking spaces and currently boasts 94% occupancy with a diverse tenant mix including bars, restaurants, and other retail businesses. Built in 2011, the single-story building is zoned GNC (General Neighborhood Commercial), offering significant potential for future growth. The current Net Operating Income (NOI) is $162,096, with a pro-forma NOI of $271,200, reflecting a 6.12% cap rate and a pro-forma cap rate of 10.23%. The asking price is $2,650,000, translating to $103.92 per square foot. Situated within the Citrus County submarket of the Tampa/St. Petersburg MSA, this property benefits from a growing population and significant infrastructure development, including the recent expansion of the Suncoast Parkway. The property's location within a thriving community, coupled with its strong tenant base and significant upside potential, makes it an attractive investment for discerning buyers. Detailed lease abstracts are available upon request. The property is offered fee simple.

Highlights

  • The Suncoast Parkway's recent $135 million expansion extends 13 miles, improving commutes to Tampa.
  • Citrus County's population is predominantly residential, with a significant senior population and a strong healthcare sector.
  • Citrus County boasts a 1.29% population growth rate, reaching an estimated 155,582 residents, and significant planned development with 60,000 vacant parcels.
  • Ongoing community development includes numerous residential projects, an RV resort, and a planned industrial complex.

Property Details for 3451 Louise Ln

Property type
Lifestyle centers, Power centers
Square Feet
25,500 SF
Class
C
Year Built/Renovated
2011/2011
Buildings
1
Stories
1
Lot Size (sq. ft)
142,441 SF
Units
13

Location Insight

City
Hernando
County
Citrus
State
Florida
Latitude
28.90684
Longitude
-82.3769234
3451 Louise Ln, Hernando, Florida

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3451 Louise Ln
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