13050 Cortez BlvdSpring Hill, FL 34613

Property Details for 13050 Cortez Blvd

Year built

1988

Lot size

23.20 AC

Property type

Retail properties

Property subtype

Lifestyle centers

Description

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.

Location Insight

City

Spring Hill

County

Hernando

State

Florida

Latitude

28.5323

Longitude

-82.5089

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