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1686 SE Baya Dr, Lake City, FL, 32025

Country Club Plaza
$1,200,000

Key Information

Cap Rate
7%
Tot. SF
12,850
Year Built
1987
Type
Shopping Centers
NOI
$84,346

Highlights

  • Attractive Cap Rate & Ability to Increase Yield to 10%: Allows for a healthy spread in today’s interest rate environment.
  • Below-Market Rents: Current gross rents average just over $10/SF, offering significant potential for future rent growth.
  • High Retail Occupancy: Retail properties within a one-mile radius are 99.5% occupied, reflecting strong tenant demand and limited supply.
  • Underserved Trade Area: Strategically positioned in a neighborhood with minimal competing retail, enhancing tenant retention and long-term viability.
  • Efficient Tenant Mix: Comprised of small-format tenant spaces, which are typically easier to lease and re-tenant, reducing downtime.
  • Excellent Visibility and Access: Prominent frontage and convenient ingress/egress support strong consumer traffic and tenant performance.
  • Acquisition Basis Well Below Replacement Cost: Priced at approximately $95/SF, materially below estimated replacement cost, providing a favorable entry point.

Photos

Location

Agents

Broker of Record

Kyle Matthews

License # CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203