Sue Webb
Property Description
South Square is a prime neighborhood shopping center and storage facility featuring 15 retail units (17 with splitting) and 52 storage units situated on approximately 2.36 acres of prime commercial property with over 400 feet of frontage along US-19/98 (+32,000 AADT) within the Tampa-St. Petersburg MSA, the 18th largest metropolitan area in the United States.This well-maintained center offers a versatile mix of suite sizes ranging from 720 SF to 3,200 SF and is occupied by a diverse tenant base including medical and professional offices, retail businesses, beauty services, and other long-standing local tenants. The storage component includes 52 units, providing an additional and complementary income stream.With significant room for growth, investors have the opportunity to enhance revenue by aligning below-market rental rates and implementing standard NNN expense recoveries for CAM, insurance, and real estate taxes, which are currently limited. Combined with modest rent adjustments and the leasing of two vacant retail units, a new owner has the potential to increase net operating income by more than 23%, achieving an estimated 6.79% stabilized cap rate, while maintaining minimal vacancy in the storage component.
Property Features
Feature Descriptions
Listed By / Shown By
Listed By
Agency Name: CENTURY 21 J.W.MORTON R.E.
Agency Contact: 352-726-6668
Shown By
Agent Name: Sue Webb
Agent Phone: (407) 361-6425
Agency Title: Watson Realty Corp., REALTORS ®
Select a format below, new window will open and will prompt you to print.
Member Participants (and their affiliated licensees, if applicable) shall indicate on their websites that IDX information is provided exclusively for consumers’ personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.
Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Privacy Policy / DMCA Notice / ADA Accessibility
940 N Suncoast Boulevard | MLS# OM720955
This commercial property located at 940 N Suncoast Boulevard, Crystal River, FL 34429 is currently listed for sale with an asking price of $4,200,000. Search Crystal River real estate on suewebb.watsonrealtycorp.com today.