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Spruce Creek Shoppes 17860 SE 109th Ave 42,203 SF 100% Leased Retail Building Summerfield, FL 34491 $14,000,000 ($331.73/SF) 6.52% Cap Rate
INVESTMENT 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
- 13,700+ SF recently leased at rates 26% above prior rents; in-place rents still average 15%+ below market
- Favorable lease structures allowing for full reimbursement of expenses and annual base rent escalations from all but one tenant
- 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
- Ideal tenant mix with nearly 80% of GLA and revenue derived from service, restaurant, and medical tenants, promoting in-person visits
- Over $250,000 in recent capital improvements, including parking lot upgrades, enhanced signage, and landscaping improvements
EXECUTIVE SUMMARY
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.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
42,203 SF
Building Class
B
Year Built
1998
Price
$14,000,000
Price Per SF
$331.73
Cap Rate
6.52%
NOI
$912,321
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.14
Lot Size
6.82 AC
Zoning
B-2 - Community Business District
Parking
251 Spaces (5.95 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
space is set up as restaurant, fully equipped and great condition , built in 2019. all equipment can be included and price can be negotiated
space currently is flower shop. can be great for flower shop, pet store, clothing store , insurance agency, grooming and more
| Space | Size | Space Use | Position | Available |
| 600 | 1,750 SF | Restaurant | End Cap | Now |
| 610 | 1,250 SF | Retail | In-Line | Now |
600
| Size |
| 1,750 SF |
| Space Use |
| Restaurant |
| Position |
| End Cap |
| Available |
| Now |
610
| Size |
| 1,250 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
1 of 8
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
600
| Size | 1,750 SF |
| Space Use | Restaurant |
| Position | End Cap |
| Available | Now |
space is set up as restaurant, fully equipped and great condition , built in 2019. all equipment can be included and price can be negotiated
1 of 14
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
610
| Size | 1,250 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
space currently is flower shop. can be great for flower shop, pet store, clothing store , insurance agency, grooming and more
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 6000-200-000 | Improvements Assessment | $3,721,158 |
| Land Assessment | $3,416,408 | Total Assessment | $7,137,566 |
PROPERTY TAXES
Parcel Number
6000-200-000
Land Assessment
$3,416,408
Improvements Assessment
$3,721,158
Total Assessment
$7,137,566
1 of 6
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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Spruce Creek Shoppes | 17860 SE 109th Ave
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