Two-Tenant Strip
For Sale
Contact for pricing
1120-1124 Sterling Road, Inverness, FL 34450
For sale two-unit strip center designed for straightforward retail tenancy and potential repositioning by a new owner.
Property Size3,220 SF
Price / SF$155.28
Days on Market54
Property Features for 1120-1124 Sterling Road
General Information
Standard status
Active
Size
3,220 SF
Total Parking Spaces
12
Property subtype
Retail
Investment Type
Value Add
Building Details
Year Built
1986
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
CrownPoint Partners
Listed By:
Shannon Bona · License #BK3629909
Source:
Crexi
Added: Jul 2
Changed: Aug 14
Last Checked: Aug 23 at 3:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CrownPoint Partners
Investment Insights
Based on property information with market context.
This two-tenant strip center offers a compact retail setup with storefront space configured for two separate occupants. The property is being offered for sale with a total size of 3,220 square feet, making it well-suited for buyers looking for a small-scale retail asset they can manage directly.
The center is located at 1120-1124 Sterling Road in Inverness, Florida, within the Tampa MSA. The listing’s format supports a clear, two-tenant operation under one ownership structure.
From a tenant perspective, the property’s two-unit design can fit a range of service-oriented or neighborhood retail concepts that benefit from a shared retail building arrangement. For buyers and investors, the straightforward structure provides a manageable platform for underwriting and potential rent planning across two spaces, rather than requiring absorption of multiple units typical of larger shopping centers.
The center is located at 1120-1124 Sterling Road in Inverness, Florida, within the Tampa MSA. The listing’s format supports a clear, two-tenant operation under one ownership structure.
From a tenant perspective, the property’s two-unit design can fit a range of service-oriented or neighborhood retail concepts that benefit from a shared retail building arrangement. For buyers and investors, the straightforward structure provides a manageable platform for underwriting and potential rent planning across two spaces, rather than requiring absorption of multiple units typical of larger shopping centers.
Key Highlights
- Two‑tenant strip center with retail tenancy structure
- Year built: 1986
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,936
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$618,720
$618.7K
Cap Rate 7%
$441,943
$441.9K
Cap Rate 9%
$343,733
$343.7K
Market Conditions
NOI Build-Up for 3,220 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.3K $15.00/SF
− Vacancy
−$4.1K −$1.28/SF
EGI
$44.2K $13.73/SF
− OpEx
−$13.3K −$4.12/SF
NOI
$30.9K $9.61/SF
Area
Citrus County, FL
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$618,720
Cap Rate 7%
$441,943
Cap Rate 9%
$343,733
Alternative Uses
Best Use
Retail
$441.9K
$386.7K – $515.6K
NOI $30,936 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$723.5K
$633.1K – $844.1K
NOI $50,647 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
737
Businesses Nearby
Explore this area
Business Placement
Demographics for 34450, FL
10,788
Population
6,642
Households
1.6
Avg Household Size
59
Median Age
25%
College-Educated
92%
High-School Grad
31.2 sq mi
ZIP Area
346
Density / Sq Mi
$48,955
Median Household Income
$39,409
Median Earnings
$973
Median Rent
$210,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - For sale two-unit strip center designed for straightforward retail tenancy and potential repositioning by a new owner.
Where is this strip mall located?
The property is located at 1120-1124 Sterling Road Inverness, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two‑tenant strip center with retail tenancy structure; Year built: 1986
