10935 177Th PlSummerfield, FL 34491

  • Other commercial real estate
  • 6,400 SF
For Sale
$5,750,000 View listing

Property Details for 10935 177Th Pl

Year built
1996
Construction
WOOD FRAME
Lot size
3.26 AC
Property size (Sq ft)
6,400 SF
Zone code
B2
Property type
Other commercial real estate
APN
6001-000-002
APU
6001000002

Description

This exceptional 25,805 square foot shopping center in Summerfield, Florida, presents a compelling investment opportunity. Boasting a 100% occupancy rate with 17 tenants, including Edward Jones and State Farm, this stabilized property generates a strong net operating income (NOI) of $460,992, yielding an 8.02% cap rate. The single-story building, constructed in 1995, sits on a 3.26-acre lot and is strategically located on a highly trafficked roadway, US Highway 27, with 38,000 vehicles per day. Its prime location within the rapidly growing Villages community, near major retailers like Target, Publix, and Walmart, ensures consistent demand and potential for future rental rate increases. The asking price is $5,750,000, translating to $222.83 per square foot. This well-established property offers a diverse revenue stream and significant upside potential due to below-market rents and the area's robust growth. The property's strong tenant roster and proven ability to increase rental rates upon lease rollover provide an excellent inflation hedge. This is a rare opportunity to acquire a high-performing asset in a thriving Central Florida market.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $1,446,820
    Hospitality
    $1,325,280
    Educational
    $1,102,617
    Medical
    $1,140,538
    Retail
    $1,715,182
10935 177Th Pl, Summerfield, Florida

Location Insight

City
Summerfield
County
Marion
State
Florida
Latitude
28.9649
Longitude
-81.9715
CBSA code
36100
CBSA name
OCALA, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$79,027
$1,633,069
$3,111,363
$4,744,432
-
$1,633,069
$3,111,363
$4,744,432

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