Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 4065 South Suncoast Boulevard, a three-suite neighborhood retail center located along US Highway 19 in Homosassa, Florida. The property consists of an approximately 4,260-square-foot building situated on 0.29 acres with prominent highway frontage, convenient access, approximately 18 parking spaces, and exposure to approximately 27,000 vehicles per day. The property is currently occupied by two operating tenants generating $29,826 in combined annual base rent, while the approximately 2,000-square-foot right-corner suite is available for immediate occupancy or lease-up. The available suite features highway-facing storefront windows, a direct exterior entrance, an open showroom or workspace, multiple private rooms, and a kitchenette, providing a flexible configuration for retail, office, medical, or service-oriented users. Offered at $650,000, the property represents an attractive acquisition basis of approximately $153 per square foot and provides investors with a clear value-add opportunity through the lease-up of the available suite. At a targeted rental rate of $16.00 per square foot NNN, the property has the potential to generate approximately $43,597 in illustrative stabilized NOI, representing a 6.71% indicated stabilized return at the asking price. These projections are subject to the assumptions detailed in the offering memorandum and exclude tenant improvements, leasing commissions, free rent, downtime, capital expenditures, and potential changes in operating expenses. The offering also presents a compelling owner-user strategy. A purchaser can occupy the available approximately 2,000-square-foot suite while continuing to collect income from the two existing tenants, helping offset property-level carrying costs. Near-term lease rollover and future lease negotiations provide additional flexibility to evaluate market rental rates, expense-recovery structures, and the property’s long-term tenant mix. Strategically positioned along Homosassa’s primary north-south commercial corridor, the property benefits from direct US-19 visibility and an established surrounding customer base. Approximately 23,989 residents and 11,206 households are located within five miles of the property, supporting continued demand for neighborhood retail, personal-service, and daily-needs uses. This offering provides investors and owner-users with the opportunity to acquire a highly visible US-19 retail asset featuring existing income, immediate occupancy or lease-up potential, and multiple paths to future value creation.