3 Tenant Center – Riverview, FL

$3,910,896
Price
$3,910,896
Noi
6.25%
Cap Rate
7,600
Leasable Area
2019
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 7,600 SF 3 tenant retail building located in Riverview, Florida. The current tenants are Willie Jewell’s Bar-B-Q, Prive’ Nail Lounge, and Maple Street Biscuit Company. Each tenant operates on a Double Net (NN) 10 year lease, leaving minimal landlord responsibility. All tenants have primary term rental rate increases & multiple options to renew with rental rate increases. This building was completed in 2019 and each tenant is currently open & operating successfully.

This building is highly visible as it is strategically positioned on the hard corner of Summerfield Crossing Blvd. and Big Bend Road, which sees 28,739 cars per day. All tenants benefit from being adjacent to tenants such as Tractor Supply Company, Goodwill, and Panda Express. Other nearby retailers include; Winn-Dixie, Marshalls, Bealls, Starbucks, and more. The population within 5 miles is 116,458 with an expected 12.13% growth. The average household income within one mile is $95,881. The area is growing at an extremely fast rate with the one mile population growth rate at 12.91%! Expected consumer retail spending within 5 miles in excess of $1.1 Billion. List price reflects a 6.25% based on an NOI of $244,431.

INVESTMENT HIGHLIGHTS
• Newer Three Tenant Retail Center | Hard Corner Location
• Willie Jewell’s Bar-B-Q, Prive’ Nail Lounge, and Maple Street Biscuit Company
• 10 Year Double Net (NN) Leases | Minimal Landlord Responsibility
• 5 Mile 116,458 With Expected 12.13% Growth
• Three Mile Average Household Income $95,881
• $1.1 Billion in Consumer Spending within 5 Miles
• Average Daily Traffic Counts of 28,739
• Nearby Retailers Include Winn-Dixie, Tractor Supply Company, Goodwill, Panda Express, Culvers, Starbucks, Publix and More

 

Instate Broker of Record: Michael Houghton | Oak Realty Advisors