801 Walnut St Starke, FL 32091-4401

Property Details for 801 Walnut St

Year built

1974

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

6.52 lot acres

Property size

84,782 SF

Property type

Community centers

APN

04438-0-00200

APU

4438000200

Description

This exceptional 79,623-square-foot shopping center in Starke, Florida, presents a compelling investment opportunity. Boasting a 94.35% occupancy rate, the property is anchored by a strong mix of national and regional tenants including T.J. Maxx, Five Below, Dollar General, Harbor Freight Tools, and Farmers Furniture. Recent capital improvements totaling approximately $1.5 million have significantly enhanced the center, resulting in a dramatic increase in foot traffic—from 336,800 visits in 2021 to 755,500 in 2024. Strategically located between Gainesville and Jacksonville, this center benefits from access to multiple markets within a 30-minute drive, making it a highly desirable retail destination. Its proximity to Camp Blanding, a major National Guard training site, and numerous residential complexes and educational institutions, including Santa Fe College and North Florida Technical College, further strengthens its appeal. The property features a fee-simple ownership structure, a triple-net (NNN) lease type, and sits on a 6.53-acre lot. Built in 1974 and renovated in 2023, the center is zoned B-3: Highway Commercial District. The asking price is $4,950,000, representing a pro-forma cap rate of 7.36% and a pro-forma NOI of $364,188. This seven-unit shopping center offers a stable income stream and significant growth potential in a thriving Florida market. The property's strong tenant mix, recent improvements, and prime location make it an ideal addition to any investment portfolio.

Location Insight

City

Starke

County

Bradford

State

Florida

Longitude

-82.1138

Latitude

29.9375

Property Tax & Assessments