19721-19729 FL-54 - Retail FOR SALE


Lutz, FL 33558
$6,406,000 USD
727-452-6864
19721-19729 FL-54, Lutz, FL for Sale
$6,406,000 USD
Retail - FOR SALE
1/5
null | 5.75% Cap Rate

19721-19729 FL-54
Lutz, FL 33558


HIGHLIGHTS

  • AdventHealth is a leading nonprofit health system with 57 hospitals in 9 states, generating $23B in 2025 revenue
  • AdventHealth invested ~$600K into the space and signed a 5-year lease with four 5-year extension options, showing long-term commitment
  • The property is 100% occupied with all three tenants on NNN leases, providing stable cash flow with minimal landlord responsibilities
  • The WALT is over 6 years, providing further reliability to the income stream
  • Sage Dental is a leading dental service organization (DSO) with over 150 locations across Florida and Georgia
  • The property is located on the signalized intersection of State Road 54 and Oakstead Blvd, with a combined AADT of 76,500

OVERVIEW

RIPCO Real Estate is pleased to offer for sale Oakstead Corner Plaza, a 8,400 SF, three-tenant medical-focused center located at 19721–19729 State Road 54 in Lutz, Florida. The property is 100% occupied by a recession-resilient, needs-based tenant mix comprised of AdventHealth, Sage Dental, and Bliss Family Veterinarian, all operating under NNN leases with expense reimbursement structures that insulate the landlord from operating cost exposure. This asset is positioned at the signalized intersection of SR 54 and Oakstead Boulevard, one of the primary commercial corridors in the rapidly growing State Road 54 submarket of the Tampa Bay MSA. This stretch of State Road 54 has an AADT of 60,000 and is expected to increase by more than 50% by 2045 according to FDOT (Florida Department of Transportation), reflecting the exceptional growth trajectory of this corridor. Population within a mile of the site is expected to increase by 3.55% annually over the next 5 years, far exceeding the national average of 0.5%. Within a 3-mile radius, there is a population of 48,933 and an average household income of $159,211. The asset represents an attractive investment opportunity for investors seeking stable, passive cash flow backed by a nationally recognized healthcare anchor in AdventHealth (S&P: AA) alongside a regional dental service organization and a neighborhood veterinary practice. All three tenants are destination-based, service-oriented uses that are insulated from e-commerce headwinds and drive consistent consumer traffic to the center. The result is a low-management, fully stabilized asset with credit-backed income, a 6.2-year WALT, and a location in one of Tampa Bay’s most supply-constrained, high-growth suburban corridors.

FOR SALE DETAILS

PRICE

$6,406,000 USD

PRICE/SF

$763 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oakstead Corner Plaza

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

C2

APN/PARCEL ID

27-26-18-0050-00000-0030

ASK ABOUT THIS PROPERTY

Ari RaviRIPCO Real EstateMore Info
727-452-6864

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Ari RaviRIPCO Real EstateMore Info
727-452-6864

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