2197 11Th DrChiefland, FL 32626

Property Details for 2197 11Th Dr

Year built

1997

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

7.13 AC

Property size (Sq ft)

17,445 SF

Property type

Retail properties

Property subtype

Community centers

APN

733600000

APU

733600000

Description

This fee-simple, 26,735 square foot shopping center and storefront property in Chiefland, Florida, presents a compelling investment opportunity. Boasting 13 units with 77% occupancy and a Net Operating Income (NOI) of $354,150, this property offers an 8.64% cap rate at an asking price of $4,100,000. Built in 1996 on an 8.83-acre lot, the center benefits from its strategic location on Young Boulevard, a high-traffic retail corridor with approximately 20,000 vehicles passing daily. The property's prime location is further enhanced by its proximity to a large, well-occupied 55+ RV resort, providing a consistent customer base. This Walmart shadow-anchored center enjoys the spillover traffic from a nearby Walmart Supercenter and is situated in a strong retail environment alongside other established businesses including Winn Dixie, Walgreens, CVS, Dunkin', Burger King, Taco Bell, and SunState Federal Credit Union. The property is a single building, offering a multi-tenant net lease investment opportunity. This is a rare chance to acquire a well-positioned retail center in a thriving area serving Levy, Dixie, and Gilchrist counties. The property's strong tenant base and high visibility make it an attractive investment for those seeking a stable, income-producing asset.

• CAP approach

  CAP return

  Valuation

  6%

  $5,537,854

  6.5%

  $5,111,866

  7%

  $4,746,732

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,989,815

  Geo Method

  $2,989,815

• Alternative Use

  Use

  Valuation

  Residential

  $4,312,050

  Hospitality

  $3,949,814

  Educational

  $3,286,199

  Medical

  $3,399,216

  Retail

  $5,111,866

Location Insight

City

Chiefland

County

Levy

State

Florida

Latitude

29.5005

Longitude

-82.8679

CBSA code

23540

CBSA name

GAINESVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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