SRS Real Estate Partners has completed the $4.77 million sale of Central Ridge Plaza, a fully occupied four-tenant retail center located at 1184 North Lecanto Highway in Lecanto, FL, a submarket of Tampa. The 10,800-square-foot, two-building property is occupied by Sketchers, Firehouse Subs, Marco’s Pizza, and Hair Cuttery.

SRS Capital Markets Associate Connor Barton, Senior Managing Principal Patrick Nutt, and Executive Vice President & Principal William Wamble represented the seller, a Florida-based private developer. The buyer was an Orlando-based group of private investors. The closing cap rate was 6.27%.

“This property was built in 2024 and all the tenants have new leases in place with scheduled rental increases,” said Barton. “The new ownership will enjoy limited landlord responsibilities and a low-management investment in a state with no income tax. We have seen investors that need financing target these investments as they provide a greater yield and income diversification.”

The property is part of a larger retail development that features a Walmart Supercenter, Hobby Lobby, and Panda Express, among others. It is also across from Shoppes at Black Diamond, a new 29-acre retail development anchored by Target.

This year, SRS Capital Markets has completed more than $1.7 billion in deal volume comprised of more than 500 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.

About SRS Real Estate Partners

Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.

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