OFFERING MEMORANDUM – WAGON WHEEL PLAZA

WAGON WHEEL PLAZA
Homosassa, FL

Phone: 352-642-9777

Investment Overview

Property Description

Wagon Wheel Plaza is a retail strip center located on Hwy 19 just North of the popular Howard’s Flea Market. This Income Property has 170′ of Hwy frontage and consists of two buildings This is currently a 10 Cap. However the Owner is using one of the 5 Units at this time, so your Cap Rate will increase upon purchase. It is 5500 sq ft (mol) of rental space. It has a paved parking lot with a Good rental history. This is not a Distressed Property, as it is a well taken care of property.

Location Overview

This retail center is in Citrus County, FL and is located on the East side of Hwy 19, approximately 5 miles South of Homossasa, 1 mile North of Cardinal Lane. This Retail Shopping Plaza is only about 40 Miles to The Villages and 70 Miles to Tampa.

Education

College of Central Florida, Citrus Campus – 7.1 Miles from Subject Property
3800 S Lecanto Hwy, Lecanto, FL 34461

Pasco-Hernando State College North Campus – 19 Miles from Subject Property
11415 Ponce De Leon Boulevard, Brooksville, FL 34601

 

Medical

Citrus Primary Care-Sugarmill Woods – 3.5 Miles from Subject Property
7945 S Suncoast Blvd b, Homosassa, FL 34446

Seven Rivers Regional Medical Center – 13.2 Miles from Subject Property
6201 N Suncoast Blvd, Crystal River, FL 34428

 

The Offering
Property                                            Wagon Wheel Plaza
Property Address
Building 1                                           6007, 6009, 6011 & 6013
Building 2                                          6027
City/State/Zip Code                    Homosassa FL, 34446
Assessor’s Parcel Number      17E-20S-12-0010-0015

Site Description

Number of Units                                   5
Number of Buildings                          2
Number of Stories                               1
Year Built                                                 1982
Rentable Square Feet                       5,500
Lot Size                                                    .56 +/- Acres

 

Utilities

Water, Sewer and Trash                  Landlord Pays
Electric                                                    Tenant Pays

 

Construction

Foundation                                            Concrete Slab
Framing
Exterior
Parking Surface                                  Asphalt
Roof

Photos

 

Comparables

 

 

 

 

 

$399,900
MLS# 757673
3177 E Gulf To Lake, Inverness FL, 34453
Lot Size 0.44 Acres
3150 SF CBS
Price/sqft $126.95

 

 

 

 

 

$499,000
MLS# 724569
2300 E Norvell Bryant, Hernando FL, 34442
4,800 SF
2.53 acres
Price/sqft $103.96

 

 

 

 

 

$349,000
MLS# 511641
20419 E Pennsylvania Ave, Dunnellon, FL 34432
3,552 SF
0.22 AC
Price/sqft $98.25

 

 

Recent Sales

 

 

 

 

 

3171 S Stonebrook Dr, Homosassa, FL 34448
Retail – RESTAURANT
SOLD $263,600 04/28/2016
Acres 1.05 ac
Year Built 1983
Sq Ft 2,906
Price/sqft $90.70

 

 

 

 

 

4891 S Suncoast Blvd, Homosassa, FL 34446
Retail – Motel
SOLD $495,000 06/05/2017
Acres 1.25
Year Built 1950
Sq Ft 1,050 – building is among the smallest 10% of motels
Price/sqft $471

 

 

 

 

 

4101 S Suncoast Blvd, Homosassa, FL 34446
Retail – REST, DRIVE-IN
SOLD $250,000 06/26/2017
Acres .66
Year Built 1989
Sq Ft 1,358
Price/sqft $184.09

 

 

Offering Summary

Price – $375,000
Down Payment – Cash Sale
Price/Unit – $75,000
Price/SF – $68.18
Number of Units – 5
Rentable Square Feet – 5,500
Number of Buildings – 2
Number of Stories – One
Year Built – 1982
Lot Size – 0.56 +/- Acres
CAP Rate – 10%

Phone: 352-642-9777

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Seven Seas Real Estate, LLC. of Florida © 2017. All rights reserved.