Parkside Plaza-Portfolio Sale -Real Estate and Business

Shopping Center for Sale
Catylist Listing ID: 30638880
Property Subtypes: Community Center, Mixed Use, Strip Center
Building Size (RSF): 11,048 SF
Gross Land Area: 1.54 Acres
Sale Price: $1,899,900
Unit Price: $171.97 PSF
Ceiling: 10 ft.
Property Use Type: Investment, Business
Usable Size (USF): 10,404 SF
Sale Terms: Undisclosed, Cash to Seller
Cap Rate: 14.8%
Average Occupancy Rate: 73
Last Updated: 9/15/2020

Overview / Comments

Parkside Plaza is a highly profitable Business and Real Estate portfolio being offered for sale in Inverness, Citrus County, Florida and surrounded by national retailers such as Lowes, Walmart, TJ-Maxx, McDonalds, Wendys and More.

Subject property consist four free standing mixed use commercial buildings totaling 11,048 SF with 7 Units and summarized as follows: Building A: 2,850 SF Free Standing Mixed Use Buildings with 3 units built in 1995. Building B: 4,500 SF Free Standing Mixed Use Commercial Buildings Housing 3 units built in 1995. Building C: 1,680 SF Free Standing Automotive Service Center with 3 Drive Thru grade level Service Bays, Transmission Pit and all equipment needed to run the successful Mobile 1 Express. Building D: 1,814 SF Free Standing 4 Bay Car Wash ( 3 Self Serve Stations, 1 Fully Automatic Car Wash and Self Serve Vacuum) built in 1998.

NEW ROOF IN 2020!

Subject property also includes the sale of Mobile 1 Express Lube Business Established in 1996 deemed an essential service has never been busier with year over year growth in revenue. 2019 Revenues $472,166. And expected to grow by 10% in 2020 alone. Stable business and well managed staff makes this business an easy cashflow and operation for active investor or an absentee owner.

This is the perfect investment and virtually a recession proof opportunity in any market.

SMALL TOWN DONE RIGHT

The City of Inverness, we think you will find our sense of community, city park facilities, miles of walking and bicycling trails, planned programs and activities provide fun for the entire family. Rich in natural resources and recreational opportunities, the City of Inverness attracts talent and tourists from all over the nation.

This small town done right is rich in culture, art and community. Recent expansion of our newly renovated Depot District will host festivals, Farmers Market and so much more while overlooking the beautiful lake Tsala Apopka. The Depot District is located along the Withlacoochee State Trail, a 46-miles of recreational trail perfect for bikes and horses.

Liberty Park and Wallace Brooks parks are waterfront parks that are located along the Withlacoochee Trail that are open year round. There are also birding trails and camping sites nearby at Potts Preserve and Fort Cooper State Park.

Whispering Pines Park is 290-acres of natural beauty with three walking trails, Olympic size swimming pool, splash pad, tennis, disc golf, baseball and pavilions.
The City is home to the renovated Valerie Theatre and the Historic Old Courthouse Museum. The Valerie Theatre dates back to the 1920s silent movie era, but was recently beautifully restored into modern cultural center with a calendar of entertainment from concerts, plays, educational exhibits, comedians and movies.The Historic Old Courthouse Museum is home to the Citrus County Historical Society and houses special collection exhibits and hosts a number of special events throughout the year. The iconic building is known for its copper cupola and clock face on all four sides. It also has been made famous for being part of the 1961 Elvis Presley movie Follow that Dream.

Financials

Finance Data Year 2019
Net Operating Income $281,946 (Annual)
Gross Operating Income $613,804 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Homosassa Springs
County: Citrus
Taxing Authority: Citrus County
Tax ID/APN: 19E19S020010 00130 0310
Zoning: GENERAL NEIGHBORHOOD COMMERCIAL
Retail Clientele: General, Family, Traveler, Tourist, Recreation
Property Located Between: Croft Avenue and SR-44 and SR-44 and CR 486
Property Visibility: Excellent
Largest Nearby Street: SR-44
Feet of Frontage: 247
Traffic/Vehicle Count: 34,500
Highway Access: Accsess to subject property from SR-44, CR-486, Suncoast Parkway
Airports: Inverness Regional, Crystal River Airport, MCO and TPA
Site Description: Site is 1.54 Acres of general commercial real estate with 4 buildings: Building A: 2,850 SF Free Standing Mixed Use Buildings with 3 units built in 1995. Building B: 4,500 SF Free Standing Mixed Use Commercial Buildings Housing 3 units built in 1995. Building C: 1,680 SF Free Standing Automotive Service Center with 3 Drive Thru grade level Service Bays, Transmission Pit and all equipment needed to run the successful Mobile 1 Express. Building D: 1,814 SF Free Standing 4 Bay Car Wash ( 3 Self Serve Stations, 1 Fully Automatic Car Wash and Self Serve Vacuum) built in 1998.
Area Description: SMALL TOWN DONE RIGHT The City of Inverness, we think you will find our sense of community, city park facilities, miles of walking and bicycling trails, planned programs and activities provide fun for the entire family. Rich in natural resources and recreational opportunities, the City of Inverness attracts talent and tourists from all over the nation. This small town done right is rich in culture, art and community. Recent expansion of our newly renovated Depot District will host festivals, Farmers Market and so much more while overlooking the beautiful lake Tsala Apopka. The Depot District is located along the Withlacoochee State Trail, a 46-miles of recreational trail perfect for bikes and horses. Liberty Park and Wallace Brooks parks are waterfront parks that are located along the Withlacoochee Trail that are open year round. There are also birding trails and camping sites nearby at Potts Preserve and Fort Cooper State Park. Whispering Pines Park is 290-acres of natural beauty with three walking trails, Olympic size swimming pool, splash pad, tennis, disc golf, baseball and pavilions. The City is home to the renovated Valerie Theatre and the Historic Old Courthouse Museum. The Valerie Theatre dates back to the 1920s silent movie era, but was recently beautifully restored into modern cultural center with a calendar of entertainment from concerts, plays, educational exhibits, comedians and movies.The Historic Old Courthouse Museum is home to the Citrus County Historical Society and houses special collection exhibits and hosts a number of special events throughout the year. The iconic building is known for its copper cupola and clock face on all four sides. It also has been made famous for being part of the 1961 Elvis Presley movie Follow that Dream. Citrus County is untouched oasis on the Florida Nature Coast and Water is the building block of life and something we have in beautiful abundance here in Citrus County, Florida with eight spring fed rivers, three first magnitude springs and thousands of acres of lakes. Citrus County is a sportsman’s paradise with boating, fishing and diving complemented on land by golf, biking, horseback riding and hunting. It’s a great place to re-create, and that means it’s a great place to have a business because happy employees make better employees. Despite devoting over 60% of our county to nature you’ll find all the infrastructure you need including a state college, two hospitals and easy access to I-75. Choice real estate is available for building and the cost of doing business and living here is among the least expensive in Florida. IT’S ALL WITHIN REACH They call it the Nature Coast but were just a stone’s throw from the Tampa Bay area and Orlando. We have easy access to major airports, cruise ports, sports and entertainment venues and the best beaches in the Sunshine State.
Total Number of Buildings: 4
Number of Stories: 1
Typical SF / Floor: 10,404 SF
Property Condition: Good
Year Built: 1995
Roof Type: Hip
Exterior Description: Concrete Block Building with stucco facade
Parking Type: Surface
Parking Description: 40 Parking stalls
Total Parking Spaces: 40
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable, DSL
Zoning Description: General Commercial no restrictions beyond no manufacturing
Lot Frontage: 247
Lot Depth: 256
Water Service: Municipal
Sewer Type: Municipal, Septic
Land Ownership: Fee Simple
Legal Description: Parcel Id's Included: 19E19S020010 00130 0310; 19E19S020010 00130 0270

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,678 13,379 42,299
Median Age: 39.5 48.78 53.33
Households: 663 5,415 18,989

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