Investment Overview

Marcus & Millichap is pleased to present Shoppes at New River, a newly constructed, 100% leased neighborhood retail center along State Road 54 in Wesley Chapel, Florida. Completed in 2026, the property is leased to Operation Dental, Bubbakoo’s Burritos, Little Greek Fresh Grill, and Noble Tax Strategies & Wealth Planning. This mix of medical, restaurant, and professional service tenants supports recurring customer visits. All tenants are on 10-year leases with annual rent increases of 3%. The center offers visibility and access along State Road 54, a primary east-west commercial corridor in Pasco County, with approximately 30,000 vehicles per day immediately adjacent to the property. Wesley Chapel continues to benefit from residential growth, expanding employment, and retail investment. Within three miles of the property, the population exceeds 42,700 residents across more than 16,200 households, with an average household income above $83,000. Through 2030, the immediate trade area is projected to see approximately 17% population growth and nearly 17% household growth. Retail vacancy in the surrounding market is 3.8%, including 1.3% vacancy among comparable multi-tenant properties, down from 1.7% the year prior. The submarket recorded more than 1.1 million square feet of leasing activity and approximately $189 million in retail investment sales. The property is also adjacent to Avalon Park at Wesley Chapel, with the existing downtown district less than a quarter mile away. The existing community features 4,400 residential units, 560,000 square feet of commercial space, and 120,000 square feet of office space. The existing walkable downtown offers restaurants, shopping, and boutiques.