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13050 Cortez BlvdSpring Hill, FL 34613

High-Occupancy Shopping Center in Spring Hill, FL

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional Class A, multi-tenant shopping center presents a compelling investment opportunity. Located at 13050 Cortez Blvd, Spring Hill, FL 34613, Mariner Square boasts a 99% occupancy rate and a strong NOI of $2,438,987, projected to increase to $2,541,612. The property comprises three single-story buildings totaling 23.2 acres, constructed in 1988. The center features a diverse tenant mix of 28 businesses, including national anchors like Dollar Tree, McDonald's, Bealls, Ross, and Pet Supplies Plus, along with popshelf. This well-established center benefits from its strategic location on a main retail corridor, adjacent to Highway 589 exit, and enjoys high daily traffic counts of 40,500 vehicles. Additional development potential exists with available frontage for an outlot pad. The property's strength is further enhanced by its proximity to a Walmart Supercenter and Sam's Club, and its location minutes from Florida's coastline. The investment highlights include annual rent increases and a significant percentage (83%) of national tenants. The inclusion of a single-tenant McDonald's adds to the property's value and stability. This is a rare opportunity to acquire a thriving, well-positioned retail center with significant upside potential.

Highlights

  • Class A multi-tenant shopping center anchored by Ross, Bealls, and Shoe Carnival.
  • Shadow anchored by Walmart Supercenter and Sam's Club.
  • 83% national tenant occupancy, including a single-tenant McDonald's.
  • Annual rent increases and strong NOI of $2,438,987, projected to increase to $2,541,612.
  • Available outlot pad frontage for additional development.
  • High-traffic location on a main retail corridor adjacent to Highway 589 exit, with 40,500 vehicles per day.

Property Details for 13050 Cortez Blvd

Property type
Lifestyle centers, Power centers
Class
A
Year Built
1988
Buildings
3
Stories
1
Lot Size (sq. ft)
1,010,592 SF

Location Insight

City
Spring Hill
County
Hernando
State
Florida
Latitude
28.5322686
Longitude
-82.5088587
13050 Cortez Blvd, Spring Hill, Florida

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13050 Cortez Blvd
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