Multi-Tenant Retail
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For Sale
Contact for pricing
709 N Park Road, Plant City, FL 33563
Single-story commercial center with established retail and service occupancy, NNN leases, and one available suite.
Property Size12,727 SF
Price / SF$126.11
Days on Market6
Property Features for 709 N Park Road
General Information
Standard status
Active
Size
12,727 SF
Class
B
Total Parking Spaces
35
Property subtype
Retail
Zoning
Neighborhood Business District
Occupancy
77%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$124,424
Building Details
Year Built
1980
Buildings
1
Stories
1
Units
7
Tenancy
Multi
Listing Agency:
Ripco Real Estate
(727) 452-6864
Listed By:
Ari Ravi · License #SL- 3210827
Source:
Crexi
Added: Aug 11
Changed: Aug 15
Last Checked: Aug 16 at 12:52PM
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.
This 12,727-square-foot shopping center is a single-story, multi-tenant property built in 1980. Six tenants occupy 77% of the center, with a mix of local retail and service businesses alongside Verizon and American Tower. Existing users include salon, fitness, nutrition, and event-rental operators. Retail leases are structured on an NNN basis and provide reimbursements for CAM, taxes, and insurance, with personal guaranties supporting the leases.
The property fronts Park Road in Plant City, within eastern Hillsborough County and the Tampa MSA. Interstate 4 is minutes away, and the site is positioned along the Park Road corridor selected for BayCare’s South Florida Baptist Hospital, which opened in 2024. Neighborhood Business District zoning is in place, and one suite remains vacant for future occupancy.
The property fronts Park Road in Plant City, within eastern Hillsborough County and the Tampa MSA. Interstate 4 is minutes away, and the site is positioned along the Park Road corridor selected for BayCare’s South Florida Baptist Hospital, which opened in 2024. Neighborhood Business District zoning is in place, and one suite remains vacant for future occupancy.
Key Highlights
- 12,727‑square‑foot shopping center on Park Road
- 77% leased to six tenants
- Single‑story center built in 1980
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
$124,947
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
7.78%
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%
$2,498,940
$2.5M
Cap Rate 7%
$1,784,957
$1.8M
Cap Rate 9%
$1,388,300
$1.4M
Market Conditions
NOI Build-Up for 12,727 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
$190.9K $15.00/SF
− Vacancy
−$12.4K −$0.98/SF
EGI
$178.5K $14.03/SF
− OpEx
−$53.5K −$4.21/SF
NOI
$124.9K $9.82/SF
Area
Hillsborough County, FL
Vacancy
6.50%
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%
$2,498,940
Cap Rate 7%
$1,784,957
Cap Rate 9%
$1,388,300
Alternative Uses
Best Use
Retail
$1.78M
$1.56M – $2.08M
NOI $124,947 @ 7.0% cap · market cap 7.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.69M
$3.23M – $4.30M
NOI $258,008 @ 7.0% cap · market cap 16.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
16k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
10,588 visits/mo
0.4 miles
Jarrett Scott Ford of Plant City
Shops & Services
5,453 visits/mo
0.1 miles
Demographics for 33563, FL
27,344
Population
10,794
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
76%
High-School Grad
15.1 sq mi
ZIP Area
1,811
Density / Sq Mi
$56,318
Median Household Income
$35,142
Median Earnings
$1,226
Median Rent
$197,500
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?
Shopping center - Single-story commercial center with established retail and service occupancy, NNN leases, and one available suite.
Where is this shopping center located?
The property is located at 709 N Park Road Plant City, FL.
What is the asking price?
The asking price for this property is $1,605,000.
What are key features of this property?
This property features: 12,727‑square‑foot shopping center on Park Road; 77% leased to six tenants; Single‑story center built in 1980
