17860 SE 109th Ave - Retail FOR SALE


Summerfield, FL 34491
$14,000,000 USD
813-758-8797
17860 SE 109th Ave, Summerfield, FL for Sale
$14,000,000 USD
Retail - FOR SALE
1/5
null | 6.52% Cap Rate

17860 SE 109th Ave
Summerfield, FL 34491


HIGHLIGHTS

  • Premier signalized location along the US 27-441 (41,000 VPD) retail corridor, with close proximity to today’s best-in-class big box tenants
  • Located in Summerfield/The Villages—the #1 U.S. master-planned community—boasting strong growth and $1.5M+ average household net worths within 3 miles
  • 13,700+ SF recently leased at rates 26% above prior rents; in-place rents still average 15%+ below market
  • Ideal tenant mix with nearly 80% of GLA and revenue derived from service, restaurant, and medical tenants, promoting in-person visits
  • Favorable lease structures allowing for full reimbursement of expenses and annual base rent escalations from all but one tenant
  • Over $250,000 in recent capital improvements, including parking lot upgrades, enhanced signage, and landscaping improvements

OVERVIEW

Colliers, as exclusive broker, is pleased to present the opportunity to acquire Spruce Creek Shoppes (the “Property”), a 42,203 SF retail strip center located in Summerfield, FL (The Villages) —the nation’s #1 master planned community. The Property boasts a prime signalized location along the heavily trafficked US 27-441 retail corridor, with close proximity to major national retailers. Serving an affluent and expanding population with average household net worth exceeding $1.5 million, the Property draws from a robust customer base supported by nearby gated communities and golf courses. Spruce Creek Shoppes features a diverse, service-oriented tenancy and landlord-favorable lease structures with annual rent escalations. Recent leasing momentum and significant rent spreads further enhance the Property’s income profile. With strong fundamentals and embedded value creation, Spruce Creek Shoppes represents a rare opportunity to acquire a stable, high-performing asset in one of Florida’s most dynamic retail markets.

FOR SALE DETAILS

PRICE

$14,000,000 USD

PRICE/SF

$332 USD /SF

CAP RATE

6.52%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Spruce Creek Shoppes

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

251

LAND DETAILS

LAND ACRES

6.82 AC

LAND SF

297,079 SF

ZONING

B-2

APN/PARCEL ID

6000-200-000

ASK ABOUT THIS PROPERTY

Michael BrewsterColliersMore Info
813-758-8797

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Michael BrewsterColliersMore Info
813-758-8797

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.