Oakview Plaza
Closed38901 Co Rd 54, Zephyrhills, FL 33542
Property type
Retail
Price
$6,892,000
CAP
6.50%
Building size
46,967 sf
Rentable area
46,967 SF
Year built
1990
Year renovated
2025
Occupancy
100%
APN
02-26-21-0000-03800-0011
Zoning code
Price per SF
$146.74
Net Operating Income
$447,996
Property description
This exceptional offering features a stabilized, service-oriented retail center anchored by two national credit tenants—Aldi and Archwell Health—each secured on fresh 10-year leases. With 76% of the gross leasable area corporately backed and guaranteed, and a strong weighted average lease term (WALT), investors can count on long-term, reliable cash flow. No CapEx is required thanks to recent roof replacements (2021 & 2024) and $2 million in upcoming Aldi-funded upgrades, including façade improvements, parking lot enhancements, and lighting updates. Situated in one of Tampa MSA's fastest-growing submarkets, the property benefits from excellent visibility on County Road 54 and proximity to national retailers like Walmart, Wawa, and Chick-fil-A. The surrounding population of 132,000 within a 15-minute drive is expected to grow by 8.5% annually—fueled by significant residential and commercial expansion. With a diverse tenant mix across grocery, medical, and essential services, this asset offers both immediate stability and long-term upside.
Property highlights
- National Credit Anchor Tenants: Fresh 10 Year Term with Aldi
- New 10 Year Lease Signed by Archwell Health, Guaranteed by United Health
- 76% of GLA is Corporately Backed & Guaranteed
- WALT of 8+ Years
- Ability to Expand: Capability to support 2.5k - 3k SF Expansion or Drive Thru End Cap option subject to approval
- Diverse Tenant Mix: Both National and Local
- Grocery, Medical, and service-oriented services.
- No Capex Needed: New roofs in 2021& 2024
- $2m in planned renovations from Aldi - Façade enhancement, Parking Lot improvements, & Lighting upgrades planned.
- High Growth Submarket: 132,000 People with in 15 min. drive
- Projected 8.5% annual population growth
- Significant residential and commercial development driven by migration and demand for essential services
- Excellent Location: Rapidly growing submarket within the Tampa MSA
- Located around other national retailers, such as Walmart, Wawa, & Chick-Fil-A
- Great Access and frontage on County Road 54