Four-Tenant Neighborhood Retail
For Sale
Contact for pricing
21202-21234 Mariner Place, Lutz, FL 33549
Signalized-corner shopping center with full occupancy and NNN lease structures.
Property Size6,950 SF
Price / SF$302.16
Days on Market9
Property Features for 21202-21234 Mariner Place
General Information
Standard status
Active
Size
6,950 SF
Total Parking Spaces
27
Property subtype
Retail
Zoning
C2 - Commercial General - Pasco County
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$140,942
Site & Location
Corner Location
Yes
Traffic Count
98,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1985
Buildings
1
Tenancy
Multi
Listing Agency:
Ripco Real Estate
(727) 452-6864
Listed By:
Ari Ravi · License #SL- 3210827
Source:
Crexi
Added: Jul 27
Changed: Aug 3
Last Checked: Aug 3 at 8:09AM
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 Ripco Real Estate
Investment Insights
Based on property information with market context.
Mariner Plaza is a 6,950-square-foot neighborhood shopping center built in 1985 and configured for four retail tenants. The property is 100% occupied by Pinch A Penny, Hungry Howie's, Mimino Food Market, and The Compassionate Clinic. Each tenancy operates under an NNN lease structure with expense reimbursement provisions. The property is zoned C2 - Commercial General - Pasco County.
The center occupies the signalized intersection of US Highway 41 and State Road 54 in Lutz, Florida, with over 200 feet of frontage and cross-access with CVS. Combined traffic counts at the intersection exceed 98,000 vehicles per day. Within three miles, the population exceeds 47,022 and average household income is approximately $147,033.
The center occupies the signalized intersection of US Highway 41 and State Road 54 in Lutz, Florida, with over 200 feet of frontage and cross-access with CVS. Combined traffic counts at the intersection exceed 98,000 vehicles per day. Within three miles, the population exceeds 47,022 and average household income is approximately $147,033.
Key Highlights
- 6,950 SF shopping center with four tenant spaces
- 100% occupied by Pinch A Penny, Hungry Howie's, Mimino Food Market, and The Compassionate Clinic
- NNN lease structures with expense reimbursement provisions
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $104.3k | $15.00 |
| − Vacancy | −$6.8k | −$0.98 |
| EGI | $97.5k | $14.03 |
| − OpEx | −$29.2k | −$4.21 |
| NOI | $68.2k | $9.82 |
6,950 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$974.7K
$852.9K – $1.14M
NOI $68,232 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,894 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
98,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
223k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Dining 31%
Apparel 16%
Superstores 9%
McDonald's
Dining
43,265 visits/mo
0.2 miles
Ross Dress for Less
Apparel
28,406 visits/mo
0.4 miles
Dollar Tree
Shops & Services
26,782 visits/mo
0.4 miles
Big Lots
Superstores
19,904 visits/mo
0.2 miles
Five Below
Shops & Services
19,583 visits/mo
0.5 miles
Demographics for 33549, FL
17,816
Population
7,586
Households
2.3
Avg Household Size
44
Median Age
40%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
1,460
Density / Sq Mi
$85,066
Median Household Income
$53,991
Median Earnings
$1,582
Median Rent
$339,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Dive Shop — 2020 Land O' Lakes Blvd, Lutz, FL 33549
- Pasco Plaza — 2454 Land O' Lakes Blvd, Land O' Lakes, FL 34639
- Tropical Village — Lutz, FL 33549
- Village Lakes Shopping Center — 23532 State Rd 54, Land O' Lakes, FL 34639
Frequently Asked Questions
What type of property is this?
Shopping center - Signalized-corner shopping center with full occupancy and NNN lease structures.
Where is this shopping center located?
The property is located at 21202-21234 Mariner Place Lutz, FL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 6,950 SF shopping center with four tenant spaces; 100% occupied by Pinch A Penny, Hungry Howie's, Mimino Food Market, and The Compassionate Clinic; NNN lease structures with expense reimbursement provisions
