Hillvest Center Retail Plaza FOR SALE


Zephyrhills, FL - Zephyrhills Area
$11,000,000 USD
440-376-1006
, Zephyrhills, FL for Sale
$11,000,000 USD
FOR SALE
1/11
null | 4.44% Cap Rate

Hillvest Center Retail Plaza
Zephyrhills, FL
Zephyrhills Area


HIGHLIGHTS

  • Multi-tenant retail property with 80 individual units and flexible suite sizes for small businesses.
  • Current NOI of $488,000 with the potential to increase to over $1.14M through stabilization and rent growth.
  • 33.88-acre site featuring a 5-acre C1-zoned grove and 10 additional acres suitable for future development (6 units per acre potential density).
  • Strong 97% occupancy level with a stable base of local, service-oriented tenants across diverse categories.
  • Month-to-month and short-term leases well below market provide immediate income enhancement opportunities.
  • Flexible C2 zoning supports retail, office, restaurant, service, and flex uses for long-term versatility.

OVERVIEW

Hillvest Center presents a rare opportunity to acquire a multi-tenant retail asset with significant upside and future development potential in Zephyrhills, Florida. Situated on nearly 34 acres, this property features an 80,000 SF retail plaza paired with valuable excess land that delivers options for expansion or redevelopment. Current occupancy is robust at over 97%, anchored by a diverse mix of local and service-oriented tenants catering to everyday needs across retail, restaurants, and personal services. The offering provides immediate income with strong in-place cash flow and major growth prospects through lease-up and rent adjustments to market levels. A substantial portion of leases are month-to-month or short-term, allowing for significant value creation by stabilizing occupancy. With approximately 15 acres positioned for future land use—supporting additional development density—the property appeals to both value-add investors and developers. Located within the fast-growing Tampa Bay region, Hillvest Center benefits from strong traffic patterns, accessible infrastructure, and a growing consumer base, making it an outstanding acquisition for long-term portfolio growth.

ASK ABOUT THIS PROPERTY

Cody BrightwellNye Commercial AdvisorsMore Info
440-376-1006

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Cody BrightwellNye Commercial AdvisorsMore Info
440-376-1006

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