Current Use by Public Records
- Lifestyle centers
Property Details for 8590 The Vlg
- Year built
- 2008
- Lot size
- 1.90 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional multi-tenant retail center, totaling 13,272 square feet on a 1.9-acre lot in The Villages, Florida, presents a compelling investment opportunity. The property boasts 12,050 square feet of net rentable space, currently 100% occupied by four tenants with long-term leases including rent bumps. Built in 2008, this single-story building is situated on a high-traffic corridor (C-466) experiencing over 23,000 vehicles daily. The property offers a strong 4.26% cap rate and a substantial net operating income (NOI) of $281,140, with an asking price of $6,600,000 ($497.29/sq ft). The location benefits from proximity to major national retailers, including Target, Walmart, Home Depot, and many others, ensuring high visibility and consistent foot traffic. The tenants include Best Flooring Center, Johnny's Birdie Golf, Kitchen & Bath Studio, and Village Discount Golf Car. Lease terms were extended on May 24, 2022. This is a rare opportunity to acquire a stable, high-performing retail asset in one of the nation's fastest-growing retirement communities. The property is a gross lease, and the building consists of one structure. This is a fee-simple ownership, not a ground lease.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lady Lake
- County
- Sumter
- State
- Florida
- Longitude
- -81.9608
- Latitude
- 28.9194
