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Powell Square - Inverness FL 1213-1221 US 41 & 1106 - 1110 Sterling Rd 11,360 SF 100% Leased 4-Star Retail Building Inverness, FL 34450 $2,146,000 ($188.91/SF) 6.80% Cap Rate
Investment Highlights
- High Traffic Visibility
- Adjacent Publix-Anchored Center | Surrounding Retail
- 100% Occupied | NNN Leases | Limited Landlord Responsibilities | Diversified Tenant Lineup | Recent Lease Extensions
- Two Adjacent Parcels | Recent Improvements | Redevelopment Opportunity
Executive Summary
• All tenants recently renewed their leases and multiple leases have been restructured to net, showing commitment to the site, and reducing LL obligations
• H&R Block is the only tenant on a gross lease and has occupied the space for over 20 years, offering the investor opportunity to add value at lease expiration
• Diverse mix of automotive, service and restaurant tenants
• Kava Bar and Uptown Jewelers have been in place for over 3 years. Highland West Salon and Abel Auto Motive in place for over 5 years. Viet Deli and Tina’s Beauty Salon in place for over 10 years.
• H&R Block is the only tenant on a gross lease and has occupied the space for over 20 years, offering the investor opportunity to add value at lease expiration
• Diverse mix of automotive, service and restaurant tenants
• Kava Bar and Uptown Jewelers have been in place for over 3 years. Highland West Salon and Abel Auto Motive in place for over 5 years. Viet Deli and Tina’s Beauty Salon in place for over 10 years.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
11,360 SF
Building Class
B
LoopNet Rating
4 Star
Year Built/Renovated
1972/1998
Price
$2,146,000
Price Per SF
$188.91
Cap Rate
6.80%
NOI
$145,960
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.29
Lot Size
0.89 AC
Zoning
C - Commercial
Parking
49 Spaces (4.31 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Freeway Visibility
- Signage
- Monument Signage
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 20E-19S-18-0040-000C0-0010 | Improvements Assessment | $240,310 |
| Land Assessment | $174,510 | Total Assessment | $414,820 |
Property Taxes
Parcel Number
20E-19S-18-0040-000C0-0010
Land Assessment
$174,510
Improvements Assessment
$240,310
Total Assessment
$414,820
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Powell Square - Inverness FL | 1213-1221 US 41 & 1106 - 1110 Sterling Rd
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