915-925 N Summit St
Crescent City, FL 32112
Crescent City Shopping Center · Retail Property For Sale

Constructed in 1974 and recently renovated, the Property has 7 retail units ranging in size from ±1,200 SF to ±13,518 SF. Crescent City Shopping Center is anchored by Save A Lot, which has called the center home for almost 10 years & recently executed a 5 year extension. Family Dollar is also a long term tenant who has also been a tenant in the center for 30+ years. Crescent City Shopping Center is currently ±51% leased and offers value-add through vacancy absorption of the 3 retail units totaling ±23,777 SF which offer flexible, visible space for prospective tenants. One of these units available for immediate occupancy includes a ±11,482 SF unit very suitable for mid-box retailers. The Property is situated on a ±6-acre parcel, provides ample surface parking, and offers frontage on a main area thoroughfare. There has been recent CapEx completed including roof replacement over Save-A-Lot, painting of building, and LED parking lot lighting. The Property’s location in the center of Crescent City’s commercial district ensures continued consumer demand and future retailer interest as evidenced by the long term tenancy. This commercial property has very good visibility, prominent signage, and excellent access, with multiple points of egress/ingress. Additionally, there is a major gap within market and there are no other 2nd generation box vacancy nor clothing retailers for 15+ miles in either direction of the Property. In 2019, the Property had approximately ±6,933 individuals residing within a five-mile radius with an average household income of ±45,485. Additionally, within a 5-mile radius of the Property the total annual specified consumer spending accounts for ±$53,461,000 and there are ±207 businesses and ±1,701 employees. Adjacent retailers include Winn-Dixie and Dollar General. With an in place income stream, Crescent City Shopping Center presents investors with an excellent opportunity to acquire a retail property that is generating income, has enjoyed long term tenancy and offers value-add opportunities.