Citrus Park Crossings

CONTACT US REGARDING THIS LISTING

Michael Jaworski

Senior Advisor

Kyle Carson

Senior Advisor

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PROPERTY ADDRESS

8608-8612 Citrus Park Dr., Tampa, FL 33625

PROPERTY INFORMATION

Price:
$4,100,000
Cap Rate:
6.65%
Term Remaining:
Varies by Tenant Years
Year Built:
2004
Status:
Available

INVESTMENT HIGHLIGHTS

  • NNN Strip Center Across from Major Regional Mall (Westfield’s Citrus Park Mall)
  • Rare combination of population density and high income: 77,000 people in a 3 mile radius with average HH Income of over $70,000
  • New leasing momentum with 2 new tenants
  • Multiple Points of Ingress/Egress
  • 7% Population Growth Projected from 2015-2020
  • All National and Regional Tenants

INVESTMENT SUMMARY

Fortis Net Lease is proud to present this 12,000 SF strip center in Tampa Florida. It is located on Citrus Park Drive across from the Westfield-owned Citrus Park Mall. This is a higher income suburban market. The mall is anchored by Dillard’s, JCP, Macy’s, Sears and Dicks Sporting Goods. The mall has good momentum and just put in a Regal Cinema. This should help continue to bring traffic to the area with the subject property as a beneficiary.

The subject location is densely populated with over 190,000 residents within a 5 mile radius and still projected to grow 7.0% by 2020. Not only is there density of population but the average household income is over $75,000 in the 1, 3, and 5 mile radii. It is rare to find real estate with this combination of both population den-sity and income.
There is a synergistic tenant mix with Bed Pros, AT&T, a nail salon, a Subway and a Massage Envy. Rents are in line with market and the property already has a strong operating history.