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Shopping Strip

Sun City Center Plaza

1601 Sun City Center Plaza, Sun City Center, FL 33573

Listing Price: $16,900,000

Cap Rate
7.05%
Gross SF
97,654
Rentable SF
97,654
Price/Gross SF
$173.06
Lot Size
10.36 acres
Year Built
1960

Investment Overview

Marcus & Millichap is pleased to present Sun City Center Plaza, a truly rare investment opportunity for an investor to purchase an 100% occupied shopping center with a proven track record of success in the submarket of Sun City Center, FL. Sun City Center Plaza for decades has proven to provide consistent cash flow, year-after-year, by an attractive mix of proven national, regional and local tenants. Sun City Center is one of the fastest growing suburban markets in all of Tampa Bay with multiple new planned residential developments in progress within a 2-mile radius of the subject property. As a result, the projected rent growth in Sun City Center will far outpace the market average. Sun City Center is located just 5 minutes from the waters of Tampa Bay, 30 minutes from downtown Tampa, 25 minutes from downtown St Petersburg, and 30 minutes to the beautiful white sand beaches of the Gulf of Mexico. This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location.

Investment Highlights

  • 88% of the Gross Leasable Area has been occupied by the current tenants for 10 years or longer. 40% of the Gross Leasable Area has been leased by the current tenant for 20 years.
  • More than 3,000 single family homes are in development which will dramatically grow the population and customer base for Sun City Center Plaza.
  • Major tenants at Sun City Center Plaza include Dollar Tree, Dollar General, Save A Lot, and Tuesday Morning which are cumulatively paying an average of just $8.88 per square foot.
  • Within the past four years, 100% of the roofs have been replaced including over 50,000 square-feet to be replaced during the fourth quarter of 2021. Recent parking lot repaving and striping, repainting and other improvements have all been completed in recent years.
  • Originally developed as a world-class retirement community in the 1980's, Sun City Center enjoys a healthy population base that is not susceptible to economic cycles like you may see in other markets. A majority of the population in Sun City Center benefit from fixed incomes, pensions, and savings.

Exclusively Listed By

Shopping Strip

Sun City Center Plaza

Listing Price: $16,900,000

Cap Rate
7.05%
Gross SF
97,654
Rentable SF
97,654
Price/Gross SF
$173.06
Lot Size
10.36 acres
Year Built
1960

Investment Highlights

  • 88% of the Gross Leasable Area has been occupied by the current tenants for 10 years or longer. 40% of the Gross Leasable Area has been leased by the current tenant for 20 years.
  • More than 3,000 single family homes are in development which will dramatically grow the population and customer base for Sun City Center Plaza.
  • Major tenants at Sun City Center Plaza include Dollar Tree, Dollar General, Save A Lot, and Tuesday Morning which are cumulatively paying an average of just $8.88 per square foot.
  • Within the past four years, 100% of the roofs have been replaced including over 50,000 square-feet to be replaced during the fourth quarter of 2021. Recent parking lot repaving and striping, repainting and other improvements have all been completed in recent years.
  • Originally developed as a world-class retirement community in the 1980's, Sun City Center enjoys a healthy population base that is not susceptible to economic cycles like you may see in other markets. A majority of the population in Sun City Center benefit from fixed incomes, pensions, and savings.

Investment Overview

Marcus & Millichap is pleased to present Sun City Center Plaza, a truly rare investment opportunity for an investor to purchase an 100% occupied shopping center with a proven track record of success in the submarket of Sun City Center, FL. Sun City Center Plaza for decades has proven to provide consistent cash flow, year-after-year, by an attractive mix of proven national, regional and local tenants. Sun City Center is one of the fastest growing suburban markets in all of Tampa Bay with multiple new planned residential developments in progress within a 2-mile radius of the subject property. As a result, the projected rent growth in Sun City Center will far outpace the market average. Sun City Center is located just 5 minutes from the waters of Tampa Bay, 30 minutes from downtown Tampa, 25 minutes from downtown St Petersburg, and 30 minutes to the beautiful white sand beaches of the Gulf of Mexico. This prime location has a variety of phenomenal core real estate drivers that ensure future appreciation and stability of the location.

Exclusively Listed By

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