• Broker Ari Ravi 7274526864
  • Broker Nathan Timmons 8139215643

Shoppes at Cypress Creek 24791 State Road 54 7,200 SF 100% Leased Retail Building Lutz, FL 33559 $6,975,842 CAD ($968.87 CAD/SF) 6% Cap Rate

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INVESTMENT HIGHLIGHTS

  • New 2024 construction lowers the likelihood of the need for landlord capital expenditures over the next several years
  • The property is located on State Road 54, a primary thoroughfare in Lutz, FL with an AADT of 72,000
  • 17,545 households within a 3-mile radius
  • All three executed leases have 10 years of term with two of the leases having two 5-year options and one having one 5-year option
  • Located adjacent to other new construction, including a Woodie’s Wash Shack and a Take 5 Oil Change, providing additional traffic to the retail center
  • 46,938 population within a 3-mile radius

ATTACHMENTS

RIPCO-Shoppes at Cypress Creek-OM

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,200 SF
Building Class
B
Year Built
2024
Price
$6,975,842 CAD
Price Per SF
$968.87 CAD
Cap Rate
6%
NOI
$418,575 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.17
Lot Size
0.97 AC
Zoning
C-2 - Commercial
Parking
43 Spaces (5.97 Spaces per 1,000 SF Leased)
Frontage
165’ on State Road 54

TRAFFIC

COLLECTION STREET CROSS STREET TRAFFIC VOLUME YEAR Distance
State Hwy 54 Carpenters Run Blvd, W 44,513 2025 0.07 km
AL 55 Old Cypress Cree, SW 69,500 2020 0.44 km
State Hwy 54 Old Cypress Creek Rd, SW 75,327 2020 0.44 km
FL 54 Old Cypress Cree, SW 70,959 2024 0.44 km
State Hwy 54 State Hwy56, N 19,960 2025 0.70 km
Old SR 54 Old Cypress Cree, N 25,064 2023 0.84 km
Ashley Creek Trail Old Cypress Cree, N 25,068 2025 0.84 km
Cypress Creek Road Silversmith Dr, W 16,719 2025 0.91 km
Not Available Not Available, No 20,493 2020 1.02 km
Wesley Chapel Boulevard Old Cypress Cree, S 25,392 2025 1.05 km

NEARBY MAJOR RETAILERS

Fazoli's
Chicken Salad Chick
Miller's Ale House
MOD Pizza
Navy Federal Credit Union
Starbucks
Bonefish Grill
Walk-On's
Cheddar's Scratch Kitchen
Asian Chao

PROPERTY TAXES

Parcel Number 28-26-19-0010-00000-0370 Improvements Assessment $0 CAD
Land Assessment $1,425,435 CAD Total Assessment $1,425,435 CAD

MAP

ADDITIONAL PHOTOS

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