707-787 Martin Luther King Blvd, Seffner, FL 33584
Category
$9,955,000
INVESTMENT HIGHLIGHTS
- Grocery Anchored by Save-A-Lot
- Prominent Location on MLK Jr Blvd, corner location at signalized intersection
- High Occupancy and stable cash flow
- National Tenants: including Dollar Tree, Ace Hardware, Planet Fitness, Papa John’s
- NOI projected to grow 12.3% over next 5 years
- Priced below replacement cost
EXECUTIVE SUMMARY
BID DEADLINE: 3/9/2022 – CBRE is pleased to offer for sale North Grove Shopping Center, a 69,756 SF grocery-anchored shopping center located in Seffner, Florida, a suburb of Tampa. Built in 1979, North Grove Shopping Center is 97% leased to 13 tenants, including national brands Save-A-Lot, Dollar Tree, Ace Hardware, and Planet Fitness. There is one 2,000 SF vacant space. The tenant mix features discount retailers and service providers – a grocer, a dollar store, hardware/home improvement store, a fitness center, a local pharmacy, tax services, and Papa John’s pizza restaurant. North Grove Shopping Center also boasts long-term tenants with seven (7) tenants having been at the center for 10 years or longer.
The four major tenants, Save-A-Lot, Dollar Tree, Ace Hardware, and Planet Fitness, occupy 80% of the center, generate 72% of the gross revenue, and have experienced operators.
The four major tenants, Save-A-Lot, Dollar Tree, Ace Hardware, and Planet Fitness, occupy 80% of the center, generate 72% of the gross revenue, and have experienced operators.
707-787 Martin Luther King Blvd, Seffner, FL 33584
