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Shopping Neighborhood

Walmart Shadow-Oakridge Plaza

9590 SW State Rd 200, Ocala, FL 34481

Listing Price: $3,645,000

Cap Rate
6.00%
Gross SF
17,400
Rentable SF
17,400
Price/Gross SF
$209.48
Lot Size
2.01 acres
Year Built
2005

Investment Overview

Marcus & Millichap is pleased to present Oakridge Plaza, a 17,400 square foot Walmart Shadow Center anchored by Heartland Dental. The shopping strip's National and Regional tenants occupy 59% of the GLA and contribute 77% of current base rental income. Oakridge Plaza is currently 72% occupied offering an investor the opportunity to add value through lease up of the 28% vacancy. The property is located in southwest Ocala Florida just 10 miles from Ocala International Airport and 30 miles northwest of "The Villages". Situated parallel to a primary retail corridor, Oakridge Plaza has excellent visibility and a traffic count of 21,000 vehicles per day. The area reflects outstanding demographics with a 5-Mile population of almost 40,000 and average annual household incomes above $60,000. The local area has experienced superb growth of 108% since 2000. Commercial retail property fundamentals are strong with a submarket vacancy of only 3.8%. Additionally, the submarket known as Outlying Marion County has demonstrated resilience in difficult market conditions with a reported 12 month rent growth of 2.7%.

Investment Highlights

  • Anchored by National/Regional Tenants with 59% GLA
  • Value Add Opportunity with 28% Vacancy
  • Parallel to Primary Retail Corridor with 21,000 AADT
  • Pop 40,000 with 108% Growth and Avg HHI $60,000+
  • Low Submarket Vacancy of Only 3.8%

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Shopping Neighborhood

Walmart Shadow-Oakridge Plaza

Listing Price: $3,645,000

Cap Rate
6.00%
Gross SF
17,400
Rentable SF
17,400
Price/Gross SF
$209.48
Lot Size
2.01 acres
Year Built
2005

Investment Highlights

  • Anchored by National/Regional Tenants with 59% GLA
  • Value Add Opportunity with 28% Vacancy
  • Parallel to Primary Retail Corridor with 21,000 AADT
  • Pop 40,000 with 108% Growth and Avg HHI $60,000+
  • Low Submarket Vacancy of Only 3.8%

Investment Overview

Marcus & Millichap is pleased to present Oakridge Plaza, a 17,400 square foot Walmart Shadow Center anchored by Heartland Dental. The shopping strip's National and Regional tenants occupy 59% of the GLA and contribute 77% of current base rental income. Oakridge Plaza is currently 72% occupied offering an investor the opportunity to add value through lease up of the 28% vacancy. The property is located in southwest Ocala Florida just 10 miles from Ocala International Airport and 30 miles northwest of "The Villages". Situated parallel to a primary retail corridor, Oakridge Plaza has excellent visibility and a traffic count of 21,000 vehicles per day. The area reflects outstanding demographics with a 5-Mile population of almost 40,000 and average annual household incomes above $60,000. The local area has experienced superb growth of 108% since 2000. Commercial retail property fundamentals are strong with a submarket vacancy of only 3.8%. Additionally, the submarket known as Outlying Marion County has demonstrated resilience in difficult market conditions with a reported 12 month rent growth of 2.7%.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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