11223 Williams St Dunnellon, FL 34432-8350

Property Details for 11223 Williams St

Year built

1993

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

5.35 lot acres

Property size

48,986 SF

Zone code

B4

Property type

Commercial real estate

APN

33639-006-00

APU

3363900600

Description

This exceptional 48,509 square foot shopping center in Dunnellon, Florida, presents a compelling investment opportunity. Boasting a 100% occupancy rate and a strong NOI of $505,131, this Class B, single-story property features 13 tenants, including a Dollar Tree and Aldi, both with corporate guarantees. Built in 1993 and extensively renovated in 2019 ($2.5M+), the center benefits from a stabilized investment profile with a 6.15% cap rate and an asking price of $8,215,000 ($169.35/sq ft). The property sits on a 5.35-acre lot with ample parking (228 spaces per 1,000 sq ft) and features a NNN lease structure. Its prime location on US 41, a major north-south thoroughfare, ensures high visibility and accessibility. The center's tenant mix is comprised of essential and necessity-based retailers, making it resilient to economic downturns and e-commerce competition. The property is zoned B-4 and offers a weighted average lease term (WALT) of 5.39 years, providing long-term stability. Adjacent to a Comfort Suites Hotel and across from a Publix-anchored shopping center and McDonald's, this center enjoys a strategic location within the town's retail core. Six separate points of ingress/egress further enhance convenience. This is a fee-simple ownership opportunity. The property's recent renovations and strong tenant lineup make it an attractive investment prospect.

Location Insight

City

Dunnellon

County

Marion

State

Florida

Longitude

-82.4534

Latitude

29.0603

CBSA code

36100

CBSA name

OCALA, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments