18941 Old Shady Hills Rd
Spring Hill, FL 34610
Former Circle K · Retail Property For Sale

The subject property is a former single-tenant Circle K located on County Line Road in Spring Hill, Florida. The property offers a redevelopment opportunity with direct frontage on this main arterial boasting average daily traffic counts of +/- 19,000 vehicles per day. Retailers in the area consist of a new Taco Bell under construction, McDonald’s, Walgreen’s, AutoZone, Advance Auto, Circle K (relocation store), Dunkin Donuts, Applebee’s, and a Publix anchored shopping center that includes Subway, Great Clip’s, H&R Block, Jiffy Lube, Metro PCS by T-Mobile, Tires Unlimited, a Speedway, and other local businesses. Further enhancing the area is the Bayfront Health Spring Hill Hospital. This hospital features the only neonatal intensive care unit (NICU) in Hernando County and the only wound care and hyperbaric medicine programs in the County in addition to normal hospital services provided to the community. In addition, the 264-unit Spring Haven Apartments, the 1,100-home Wellington at Seven Hills housing community, and numerous medical offices and local business also compliment the area. Built in 1987, the property consists of an approximate 2,680-square foot retail building* situated on approximately 0.86 acres of land*. Circle K has closed their business at this location and relocated east of the property building their larger format store. There is an existing Absolute Triple Net (NNN) lease in place that expires March 18, 2020 with monthly rent of $5,176.40. The tenant has informed the landlord that they will not be exercising any renewal options beyond this date. Currently the tenant is in the process of removing the underground tanks and fuel dispensers at the property. Directly impacting the subject property The Florida Department of Transportation finished an $8.4-million road improvement project in 2018 at the intersection of County Line Road and Mariner Boulevard / Shady Hills Road just east of the property that included widening the previous two-land roadway to a four-lane roadway in front of the property (source: hernandosun.com) fostering continued growth in the area. Located in Hernando County, Spring Hill is located 42 miles north of Tampa and is considered the northern gateway to Tampa. It is home to over 100,000 residents and part of the Greater Tampa Bay Area, also known as the Tampa-St. Petersburg-Clearwater Metropolitan Statistical Area (MSA) with over 3 million residents. This desirable growth area continues to flourish with new construction and improvement projects with more on the way.