Country Oaks Retail Center

Ocala | Florida

Offering Summary

  • Status: closed
  • Price: $10,539,673
  • CAP Rate: 7.74%
  • GLA: 88,550 SF
  • Net Operating Income: $815,628
  • Price/SF: $122.81
  • Year(s) Built: 2006
  • Lot Size (Acres): 10.5 AC
  • Major Tenants: Bealls; Dollar Tree; Flooring Factory Outlet; Sherwin Williams; Rose Nails
  • 100% Occupied, 88,550 SF Bealls-Anchored Retail Center in Ocala, FL
  • Bealls (70% of GLA) – Tenant Since 2006 on NN Lease thru April 2026
  • Bealls is a Prominent Privately-Held, Florida-Based Retailer in Business Since 1915 with Over 500 Stores
  • Shadowed by Walmart Supercenter with 2.1 Million Customer Visits in the T12 Month Period (source: Placer.ai) – Only Walmart within 11-Mile Radius
  • Rapidly Growing Central Florida City: +26% Population Growth in 5-Mi Since 2010; 13% Additional Growth Projected Over Next 5 Years
  • Offered with 73.8% LTV Assumable CMBS Debt Maturing 5/2026 (5.01% IR, 30-Yr AM)
  • Loan Assumption Requires $2.85M Down Payment; Offers 7.9% Year 1 Cash/Cash Return & 15.8% 10-Yr Leveraged IRR
  • Replaceable Rents Averaging $9.92/SF NNN ($12.72/SF Gross Equivalent)
  • Dollar Tree & Flooring Factory Outlet Comprise 22.5% of GLA – Leased into May 2024 & Feb 2025, Respectively
  • Flooring Factory Outlet is an Established Florida Chain with 4 Total Stores
  • Sherwin-Williams – Tenant Since 2007; Recently Exercised 5-Year Option thru July 2027
  • 87.3% of GLA is Leased to National & Regional Retailers
  • Ease of Management with Only 5 Tenants & Efficient Operating Expenses of $3.17/SF
  • Located Just North of the Major Intersection of SW Hwy 484 and Route 200 with 31,000 VPD
  • Large SE Ocala Trade Area with Middle-Income Demographics – 43,073/5-Mi Population with $65K AHHI
  • Ocala, FL – 1 Hour to Orlando, 1.5 Hours to Tamps, 45 Minutes to Gainesville
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director