260 E Sr 434, Winter Springs, FL 32708 listing details

BOM, Buyer forfeited. Reduced $550K for a quick deal. PRP is pleased to exclusively represent the seller in the disposition of the REO asset known as the Venetian Square community shopping located in Winter Springs within Seminole County, Central Florida's newest high technology corridor with access to the State, Nation, & World. Venetian Square was built in 1980-1981 as a community shopping center for Winter Springs. Constructed in 3 phases this center is 48,828/SF with 44,636/SF of usable/leasable square footage. The center is positioned on 8.3+/- acres fronting SR434 with over 422'+/-of frontage. The additional land allows an investor or developer to create an addition 32,000/SF of prime retail space on the West side of the property. Value Add Center is anchored by Dollar General, occupying 9,707/SF and are currently under a store remodel as of January 10, 2014. The center is currently operating at a 49% occupancy with the potential in the next 6 to 9 months utilizing an aggressive leasing company in order to stabilize the center. Currently there are many new residential & commercial developments within a 10 mile radius from the center such as Winter Springs Village, Artesian Park, & Moss Park Apartments just .10 miles West of the center. Due to the growth within this corridor a new strip center just .10 miles East is under construction as of January 2014 called Hayes Road Plaza being developed by Harbco Construction with a 711 Anchor.