Institutional Property Advisors Exclusively Offers Shopping Center for Sale in Central Florida
September 24, 2025
MOUNT DORA, Fla., Sept. 24, 2025 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the exclusive listing for sale of Tri-Cities Shopping Plaza, a 71,172-square-foot shopping center anchored by Ross Dress for Less, TJ Maxx, and Dollar Tree in Mount Dora, Florida. The price is $12.5 million.
“With over 1.83 million annual customer visits, Tri-Cities Shopping Plaza is the most-visited shopping center in Mount Dora, Eustis, and Leesburg,” said Kirk D. Olson, IPA senior director. “The center’s below-market, fixed-rate assumable financing can provide a new owner with strong in-place cash flow.” Olson and IPA’s Drew A. Kristol are representing the seller, a private investment group based in Davie, Florida. “The property is 100% occupied by a proven, curated tenant mix with a weighted average lease term over five years,” said Kristol. “All three anchor tenants recently extended their leases, which were originally signed 10-plus years ago and are 40% below market rate.”
Tri-Cities Shopping Plaza is on the signalized corner of U.S. Highway 441 and Eudora Road, which have a combined traffic count of 53,900 vehicles per day. Downtown Orlando is within a short drive and within five miles the population is over 71,000 and the average annual household income is $73,800. The property is shadow anchored by a high-volume Hobby Lobby that is not a part of the offering and Walmart, Target and ALDI have locations less than half a mile away.
In addition to Ross Dress for Less, TJ Maxx, and Dollar Tree, the tenant roster includes VIP Care Medical, Victoria’s Hallmark, Bricks & Minifigs, and Papa John’s Pizza.
“With over 1.83 million annual customer visits, Tri-Cities Shopping Plaza is the most-visited shopping center in Mount Dora, Eustis, and Leesburg,” said Kirk D. Olson, IPA senior director. “The center’s below-market, fixed-rate assumable financing can provide a new owner with strong in-place cash flow.” Olson and IPA’s Drew A. Kristol are representing the seller, a private investment group based in Davie, Florida. “The property is 100% occupied by a proven, curated tenant mix with a weighted average lease term over five years,” said Kristol. “All three anchor tenants recently extended their leases, which were originally signed 10-plus years ago and are 40% below market rate.”
Tri-Cities Shopping Plaza is on the signalized corner of U.S. Highway 441 and Eudora Road, which have a combined traffic count of 53,900 vehicles per day. Downtown Orlando is within a short drive and within five miles the population is over 71,000 and the average annual household income is $73,800. The property is shadow anchored by a high-volume Hobby Lobby that is not a part of the offering and Walmart, Target and ALDI have locations less than half a mile away.
In addition to Ross Dress for Less, TJ Maxx, and Dollar Tree, the tenant roster includes VIP Care Medical, Victoria’s Hallmark, Bricks & Minifigs, and Papa John’s Pizza.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.