For Sale
$17,580,000

5330 Ehrlich Rd Tampa, FL 33624

High-Yield Net Lease Shopping Center

Overview

Added:
Dec 11, 2024
Days on market:
135
West Village Commons, a 60,234 square foot shopping center in Tampa, Florida, presents a compelling investment opportunity. This 100% occupied, two-building property boasts 17 tenants, including Dollar Tree, USPS, and Little Caesars, and is shadow-anchored by a high-performing EoS Fitness center. The property sits on a 7.24-acre lot at the southwest corner of Ehrlich Road and W Village Drive, benefiting from high traffic counts and excellent visibility. Recent renovations (2004 & 2022) include new roofs (with 20-year warranties), paint, facade, and signage upgrades. The property features a desirable tenant mix catering to the affluent Carrollwood and Northdale neighborhoods, with a strong average household income within a one-mile radius ($124,829). The center's strong performance is reflected in its $1,230,611 NOI and a 7.00% cap rate. Ten of the seventeen tenants have no remaining options, presenting a significant opportunity for future rent increases. The property is zoned PD - Planned Development (Hillsborough County) and was built in 1985. This is a rare opportunity to acquire a stable, high-performing retail asset in a prime Tampa location with significant upside potential. The property offers easy access from major roadways with signalized intersections and median cuts providing convenient access for customers. The substantial daytime population within a 5-mile radius (189,668) further underscores the property's strong market position. This is a turnkey investment with a proven track record and significant potential for long-term growth.

Highlights

  • 100% occupied, 60,234 SF shopping center with 17 tenants, including Dollar Tree, USPS, and Little Caesars, shadow-anchored by a high-performing EoS Fitness.
  • Ten of seventeen tenants have expiring leases, offering significant rent increase potential.
  • Key tenants include USPS, Dollar Tree, Little Caesars, Dogtopia, and De'Dior Salon Studio.
  • High-traffic location at the southwest corner of Ehrlich Road and W Village Drive, with excellent visibility and convenient access.
  • Signalized intersections and median cuts provide easy access from major roadways.
  • Strong demographics: $124,829 average household income within 1 mile, 84,036 population within 3 miles, and 189,668 daytime population within 5 miles.

Property Details for 5330 Ehrlich Rd

Property type
Lifestyle centers, Power centers
Square Feet
60,234 SF
Year Built/Renovated
1985/2004
Buildings
2
Stories
1
Lot Size (sq. ft)
315,374 SF
Units
17

Location Insight

City
Tampa
County
Hillsborough
State
Florida
Latitude
28.081955
Longitude
-82.54042

FAQs

What type of property is this?
Lifestyle center - High-Yield Net Lease Shopping Center
Where is the lifestyle center located?
The property is located at 5330 Ehrlich Rd Tampa, FL.
What is the asking price?
The asking price for this property is $17,580,000.
What are key features of this property?
This property features: 100% occupied, 60,234 SF shopping center with 17 tenants, including Dollar Tree, USPS, and Little Caesars, shadow-anchored by a high-performing EoS Fitness.; Ten of seventeen tenants have expiring leases, offering significant rent increase potential.; Key tenants include USPS, Dollar Tree, Little Caesars, Dogtopia, and De'Dior Salon Studio.
How can I contact the broker?
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5330 Ehrlich Rd
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