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Shoppes at Cypress Creek - Lutz FL 24771 State Road 54 7,154 SF 100% Leased Retail Building Lutz, FL 33559 $5,169,000 ($722.53/SF) 6.15% Cap Rate
Investment Highlights
- Recently Fully Leased | 8+ Years of Term Remaining | Options to Renew | Strong Dunkin’ Franchisee
- NNN Leases | Fee Simple Ownership | Minimal Landlord Responsibilities | Limited Expense Leakage
- Demographics in 5-Mile Radius | Tampa/St. Pete MSA |Annual Population Growth
- Food and Service Tenant Line-Up | Drive Thru Equipped
- Part of the Larger Shoppes of Cypress Creek | Fronting FL-54 (73,000 VPD) | Surrounding Retailers | Adjacent to New Greenlane
Executive Summary
• Brand-new, fully occupied retail strip with leases signed within the past two years. All tenants have terms remaining through at least June 2034
• Dunkin’ has four 5-year options to renew with 10% rent increases at the beginning of each option period, Los Chapos Tacos has one 5-year option to renew at a fixed rate, and Lightning Orthodontics has two 5-year options to renew at fair market rent
• Dunkin’ is operated by Purple Square Management, a strong and experienced franchisee with more than 250 locations across multiple brands.
• All leases include scheduled rental increases, providing a hedge against inflation and opportunities for increased cash flow
• Dunkin’ has four 5-year options to renew with 10% rent increases at the beginning of each option period, Los Chapos Tacos has one 5-year option to renew at a fixed rate, and Lightning Orthodontics has two 5-year options to renew at fair market rent
• Dunkin’ is operated by Purple Square Management, a strong and experienced franchisee with more than 250 locations across multiple brands.
• All leases include scheduled rental increases, providing a hedge against inflation and opportunities for increased cash flow
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
7,154 SF
Building Class
B
Year Built
2024
Price
$5,169,000
Price Per SF
$722.53
Cap Rate
6.15%
NOI
$317,916
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.16
Lot Size
1.02 AC
Zoning
C2 - Commercial General
Parking
44 Spaces (6.15 Spaces per 1,000 SF Leased)
Frontage
165’ on State Road 54
Amenities
- Dedicated Turn Lane
- Restaurant
- Signage
- Drive Thru
- Wheelchair Accessible
- Monument Signage
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 28-26-19-0010-00000-0370 | Improvements Assessment | $907,644 |
| Land Assessment | $991,400 | Total Assessment | $1,899,044 |
Property Taxes
Parcel Number
28-26-19-0010-00000-0370
Land Assessment
$991,400
Improvements Assessment
$907,644
Total Assessment
$1,899,044
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