Shopping Regional
Ocala West Shopping Center
2400 SW College Rd, Ocala, FL 34471
Listing Price: $14,960,148
Investment Overview
*Ocala West is a 114,902 SF Hobby Lobby anchored center situated in the best retail corridor in Ocala, FL- Ocala West, per Placer.ai, has over 1.06M visitors and ranks in the 91st percentile nationally and 93rd in FL (#1 out of 31 centers within 30 miles)
*Hobby Lobby (58% of the GLA) recently executed a new 10-year Lease extension and is ranked as the top performing location in Florida (#1 out of 53 with 593K visitors) and the U.S. (#87 out of 936) per Placer.ai- Rent/Sales ratio is sub 3.0%
*Long standing tenancy- over 60% of the shop space tenants have been on-site for over 10 years
*Recent renovations- Seller just recently invested over $650,000 in a façade renovation (completed in October) and invested nearly $60,000 on new tenant signage (est. 12/1 delivery)- an additional $30,000 was invested into a new seal coat and line stripping
*Incredibly dense market- Ocala West is located near Paddock Mall (550K SF- 90+ stores), Gaitway Plaza (T.J.Maxx, Michael’s, Ross), Market Street at Health Brook (520K SF Lifestyle Center with Kohl’s, Dillard’s, Dick’s, HomeGoods, Ashley), Walmart Supercenter, Sam’s Club, Home Depot, Advent Health Hospital (425 beds), HCA Florida Hospital (323 beds), and College of Central Florida (8,200 students)
*Very strong Placer.ai data on nearby retailers: Walmart (2.58M visitors- 93rd U.S./96th FL), Home Depot (1.08M visitors- 99th U.S./98th FL), Sam’s Club (1.84M visitors- 67th U.S./71st FL), Lowe’s (630K visitors- 90th U.S./87th FL), Paddock Mall (3.09M visitors- 72nd U.S./82nd FL), Market Street (4.23M visitors- 73rd U.S./76th FL), Gaitway Plaza (2.44M visitors- 62nd U.S./78th FL)
*Interstate access- less than 2 miles from Interstate 75- ADT over 90,000 cars/day
*Signalized Entrance- Ocala West features a signalized primary entrance, with additional entry points from SW College Road (ADT over 33,000 cars/day) and 19th Avenue Road/Easy Street
*Low retail vacancy in the immediate market- 3-mile vacancy is approximately 2.0%
*Below market rents: Hobby Lobby is paying a conservative rent of $6.50/SF- shop space tenants average rent is $19/SF
*Priced below replacement cost- Price/SF of $130
*Over 77,000 residents within a 5-mile radius with an AHI over $78,000
Investment Highlights
- Ocala West is a 114,902 SF Hobby Lobby anchored center situated in the best retail corridor in Ocala, FL- Ocala West, per Placer.ai, has over 1.06M visitors and ranks in the 91st percentile nationally
- Hobby Lobby (58% of the GLA) recently executed a new 10-year Lease extension and is ranked as the top performing location in Florida (#1 out of 53 with 593K visitors) per Placer.ai
- Long standing tenancy- over 60% of the shop space tenants have been on-site for over 10 years
Exclusively Listed By
Broker of Record
Listing Price: $14,960,148
Investment Highlights
- Ocala West is a 114,902 SF Hobby Lobby anchored center situated in the best retail corridor in Ocala, FL- Ocala West, per Placer.ai, has over 1.06M visitors and ranks in the 91st percentile nationally
- Hobby Lobby (58% of the GLA) recently executed a new 10-year Lease extension and is ranked as the top performing location in Florida (#1 out of 53 with 593K visitors) per Placer.ai
- Long standing tenancy- over 60% of the shop space tenants have been on-site for over 10 years
Investment Overview
*Ocala West is a 114,902 SF Hobby Lobby anchored center situated in the best retail corridor in Ocala, FL- Ocala West, per Placer.ai, has over 1.06M visitors and ranks in the 91st percentile nationally and 93rd in FL (#1 out of 31 centers within 30 miles) *Hobby Lobby (58% of the GLA) recently executed a new 10-year Lease extension and is ranked as the top performing location in Florida (#1 out of 53 with 593K visitors) and the U.S. (#87 out of 936) per Placer.ai- Rent/Sales ratio is sub 3.0% *Long standing tenancy- over 60% of the shop space tenants have been on-site for over 10 years *Recent renovations- Seller just recently invested over $650,000 in a façade renovation (completed in October) and invested nearly $60,000 on new tenant signage (est. 12/1 delivery)- an additional $30,000 was invested into a new seal coat and line stripping *Incredibly dense market- Ocala West is located near Paddock Mall (550K SF- 90+ stores), Gaitway Plaza (T.J.Maxx, Michael’s, Ross), Market Street at Health Brook (520K SF Lifestyle Center with Kohl’s, Dillard’s, Dick’s, HomeGoods, Ashley), Walmart Supercenter, Sam’s Club, Home Depot, Advent Health Hospital (425 beds), HCA Florida Hospital (323 beds), and College of Central Florida (8,200 students) *Very strong Placer.ai data on nearby retailers: Walmart (2.58M visitors- 93rd U.S./96th FL), Home Depot (1.08M visitors- 99th U.S./98th FL), Sam’s Club (1.84M visitors- 67th U.S./71st FL), Lowe’s (630K visitors- 90th U.S./87th FL), Paddock Mall (3.09M visitors- 72nd U.S./82nd FL), Market Street (4.23M visitors- 73rd U.S./76th FL), Gaitway Plaza (2.44M visitors- 62nd U.S./78th FL) *Interstate access- less than 2 miles from Interstate 75- ADT over 90,000 cars/day *Signalized Entrance- Ocala West features a signalized primary entrance, with additional entry points from SW College Road (ADT over 33,000 cars/day) and 19th Avenue Road/Easy Street *Low retail vacancy in the immediate market- 3-mile vacancy is approximately 2.0% *Below market rents: Hobby Lobby is paying a conservative rent of $6.50/SF- shop space tenants average rent is $19/SF *Priced below replacement cost- Price/SF of $130 *Over 77,000 residents within a 5-mile radius with an AHI over $78,000
Exclusively Listed By
Broker of Record

