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Retail
Tri-Cities Shopping Plaza
Mount Dora, FL
71,172 SqFt
Built in 1988
Core Plus
Investment Highlights
- 71,172 SF shopping center anchored by Ross Dress for Less, TJ Maxx and Dollar Tree
- Assumable financing with fixed rate, below-market interest rate of 4.85%
- Shadow anchored by high-volume Hobby Lobby | f ree standing Pet Supermarket and KFC add additional traffic to the center
- Only one lease (1,200 SF nail salon) rolls within the next 2.5 years
- All three anchor leases were signed 10+ years ago and are +/- 40% below current market rates
- Two inline restaurants have f ive years remaining, with no renewal options and rents 30%+ below market
- Two additional inline tenants are 32% and 47% below market
- Further upside through the potential to add two additional outparcels, conditional on approval f rom anchor tenants
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