Curated News
By: NewsRamp Editorial Staff
September 24, 2025
SRS Sells $4.77M Central Ridge Plaza in Tampa Submarket
TLDR
- SRS Real Estate Partners secured a competitive 6.27% cap rate for investors in the $4.77 million sale of Central Ridge Plaza, offering tax advantages and income diversification.
- SRS arranged the sale of a fully occupied 10,800-square-foot retail center with new tenant leases and scheduled rental increases to Orlando-based private investors.
- This retail property sale supports local businesses like Sketchers and Firehouse Subs while contributing to economic growth in the Lecanto community near Tampa.
- A brand new 2024-built retail center with popular tenants sold for $4.77 million, located near major anchors like Walmart and Target in a growing Florida market.
Impact - Why it Matters
This transaction matters because it reflects ongoing investor confidence in Florida's retail real estate market despite economic uncertainties. The 6.27% cap rate indicates strong returns compared to other investment vehicles, making it attractive for private investors seeking income diversification. For the local Lecanto community, the sale ensures continued retail stability with established national brands like Sketchers and Firehouse Subs remaining operational. The property's location within a larger retail ecosystem anchored by Walmart and Target demonstrates how strategic positioning enhances property values. This deal also highlights Florida's appeal as a tax-advantaged state for commercial investments, potentially influencing future development patterns in growing Tampa submarkets.
Summary
SRS Real Estate Partners has successfully completed the $4.77 million sale of Central Ridge Plaza, a modern retail center located at 1184 North Lecanto Highway in Lecanto, Florida, which serves as a submarket of the Tampa area. The fully occupied property spans 10,800 square feet across two buildings and features four established tenants: Sketchers, Firehouse Subs, Marco's Pizza, and Hair Cuttery. The transaction was facilitated by SRS Capital Markets professionals Connor Barton, Patrick Nutt, and William Wamble, who represented the Florida-based private developer seller. The buyer was an Orlando-based group of private investors, and the deal closed at an attractive 6.27% cap rate, reflecting strong investor confidence in the property's value and potential.
According to Connor Barton, the property's appeal lies in its recent construction in 2024 and the fact that all tenants have new leases with scheduled rental increases, providing stable income growth for the new owners. Barton emphasized that the investment offers limited landlord responsibilities and represents a low-management opportunity in a tax-advantaged state. The property is strategically positioned within a larger retail development that includes major anchors like Walmart Supercenter, Hobby Lobby, and Panda Express, and sits directly across from the new Shoppes at Black Diamond development anchored by Target. This transaction contributes to SRS Capital Markets' impressive track record, having completed over $1.7 billion in deal volume through more than 500 transactions nationwide this year alone.
The sale underscores SRS Real Estate Partners' continued dominance in the commercial real estate sector, with the firm currently marketing over 845 properties valued at more than $3.7 billion. Founded in 1986 and headquartered in Dallas with 29 offices across the United States, SRS has established itself as one of the industry's most influential leaders, building upon its retail foundation to provide comprehensive commercial real estate solutions. For more information about their services and portfolio, interested parties can visit srsre.com to explore their extensive capabilities and current market offerings.
Source Statement
This curated news summary relied on content disributed by citybiz. Read the original source here, SRS Sells $4.77M Central Ridge Plaza in Tampa Submarket
