For Sale
$8,215,000

11223 Williams StDunnellon, FL 34432

Florida Retail Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 48,509 square foot shopping center in Dunnellon, Florida, presents a compelling investment opportunity. Boasting a 100% occupancy rate and a strong NOI of $505,131, this Class B, single-story property features 13 tenants, including a Dollar Tree and Aldi, both with corporate guarantees. Built in 1993 and extensively renovated in 2019 ($2.5M+), the center benefits from a stabilized investment profile with a 6.15% cap rate and an asking price of $8,215,000 ($169.35/sq ft). The property sits on a 5.35-acre lot with ample parking (228 spaces per 1,000 sq ft) and features a NNN lease structure. Its prime location on US 41, a major north-south thoroughfare, ensures high visibility and accessibility. The center's tenant mix is comprised of essential and necessity-based retailers, making it resilient to economic downturns and e-commerce competition. The property is zoned B-4 and offers a weighted average lease term (WALT) of 5.39 years, providing long-term stability. Adjacent to a Comfort Suites Hotel and across from a Publix-anchored shopping center and McDonald's, this center enjoys a strategic location within the town's retail core. Six separate points of ingress/egress further enhance convenience. This is a fee-simple ownership opportunity. The property's recent renovations and strong tenant lineup make it an attractive investment prospect.

Highlights

  • 48,509 SF shopping center in Dunnellon, FL, 100% occupied, with a strong NOI of $505,131.
  • NNN leases, anchored by Aldi and Dollar Tree (corporate guarantees), offering below-market rents with upside potential.
  • $10.16 average gross rent per square foot; 5.39-year weighted average lease term (WALT).
  • $2.5M+ in renovations completed in 2019; essential/necessity-based retailers, resilient to economic downturns.
  • Prime US 41 location, high visibility, six points of ingress/egress; adjacent to Comfort Suites, across from Publix-anchored center and McDonald's.

Property Details for 11223 Williams St

Property type
Lifestyle centers, Power centers
Square Feet
48,509 SF
Class
B
Year Built/Renovated
1993/2019
Stories
1
Lot Size (sq. ft)
233,046 SF

Location Insight

City
Dunnellon
County
Marion
State
Florida
Latitude
29.060574429894
Longitude
-82.453692717286
11223 Williams St, Dunnellon, Florida

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11223 Williams St
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