A newly constructed 16,456-square-foot retail strip center in Tarpon Springs has sold for $7.45 million, or $452 per square foot.
Ally Tarpon LLC sold the plaza at 40545 US Highway 19 N. to Tampa-based Tarpon Springs HF LLC.
Franklin Street arranged the sale of the plaza. The property’s tenants include TGH (Tampa General Hospital) Urgent Care, Aspen Dental, Firehouse Subs and medical marijuana retailer Trulieve.
Franklin Street’s Ryan Derriman, Greg Matus, Adam J. Tiktin, Anthony Suarez and Jonathon De Maa, with the firm’s Retail Investment Sales Team, represented the seller, according to Franklin Street’s announcement.
The property is situated on 2.27 acres fronting U.S. Highway 19 and sees an average of 78,000 vehicles per day. The retail center was 89.38% occupied at the time of sale, providing upside through the ability to lease the remaining 1,747 square feet of space, according to Franklin Street.