Midnight Location | Proximity to The Villages 4920 SE Abshier Blvd 15,120 SF Retail Building Belleview, FL 34420 $3,125,678 ($206.72/SF) 7.75% Cap Rate

We are pleased to offer for sale the Walgreens property located at 4920 SE Abshier Blvd, Belleview, FL 34420 (the “Property”). The lease is structured as a double-net (NN) with minimal landlord responsibilities, and in 2025, Walgreens waived its 2028 and 2033 termination options, extending the lease expiration to August 31, 2038.
Walgreens is currently paying $16.02 per square foot, which is in line with market retail rents of $16–18 per square foot. The Property is in an area with 1,900+ homes planned or underway within three miles. Population growth has averaged ~4.5% per year since 2020, outpacing Ocala. The location is near The Villages, which continues to expand and increase regional housing and retail activity.
A $71 million mixed-use project is proposed 2.5 miles southeast of the Property. The plan includes a big-box retailer, a gas station, and 22,500 square feet of retail and restaurant space, with an estimated 400 jobs tied to the project.
Walgreens operates until midnight, which increases late-hour traffic and supports its ranking as the 3rd most-visited national drugstore chain within a 10-mile radius, with 316,000 annual visits per Placer.ai.
Listed in conjunction with Brian Brockman, Bang Realty - Naples, Inc, 513-898-1551, wg@bangrealty.com, FL DRE Lic. BK3327646.