24791 State Road 54 Lutz, FL 33559

Property Details for 24791 State Road 54

Year built

2024

Lot size

1.02 lot acres

Property size

7,153 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents the Shoppes at Cypress Creek, a newly constructed (2024), 7,153 square foot retail center in Lutz, Florida. Located on State Road 54, a major thoroughfare boasting an AADT of 72,000 vehicles, this property enjoys a highly visible and accessible location. The center is 100% occupied by three tenants: Fazoli's Italian Restaurant (with a drive-thru), Lightning Orthodontics, and Los Chapos Tacos. These tenants occupy a total of three units within a single, one-story building situated on a 1.02-acre lot. The weighted average lease term is just under 10 years, providing significant long-term stability for investors. The property's strong tenant mix, combined with its prime location in a high-traffic area, makes it an attractive investment. The property features convenient access points from State Road 54 and Old Cypress Creek Road. Within a three-mile radius, the property benefits from a robust demographic profile, including 46,938 residents and an average household income of $134,959. The property's Net Operating Income (NOI) is $302,118, and the asking price is $5,035,000. The property is zoned C2 - Commercial General - Pasco County, and its APN is 28-26-19-0010-00000-0370. The property's proximity to other new retail developments, including a Woodie's Wash Shack and a Take 5 Oil Change, further enhances its appeal and potential for increased traffic. This is a rare opportunity to acquire a newly constructed, stabilized retail center with long-term leases and strong demographics in a prime Pasco County location.