SRS Real Estate Partners announced today it has completed the $7.89 million sale of Promenade, a three-tenant real strip property located at 7605 to 7597 Triumph Ridge Point in Wesley Chapel, FL. Built in 2025, the 9,222-square-foot property is situated on 1.12 acres and is fully occupied by Heartland Dental, GoodVets and Ann’s Salon & Spa.
SRS Capital Markets Executive Vice President & Principal William Wamble, Senior Managing Principal Patrick Nutt and Associate Connor Barton represented the seller, a Florida-based developer and investor. The buyer was a Florida-based investor who paid all-cash. The closing cap rate was 6.35%.
“All the tenants are operating under new 10-year lease terms with scheduled rent increases, and there are limited landlord responsibilities,” said Wamble. “Those benefits, combined with a surrounding dense and affluent demographic, made that property a favorable, long-term and cash-flowing investment for the new ownership.”
There are more than 76,000 residents and 10,000 employees within a five-mile radius of the property and there is an average annual household income of more than $162,000 within a one-mile radius. Located about 30 miles from Tampa, Wesley Chapel is currently growing at a rate of 2.83% annually.
This year, SRS Capital Markets has completed more than $1.6 billion in deal volume comprised of more than 400 transactions across the nation. SRS currently has in excess of 900 properties actively on the market with a market value surpassing $4.3 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is celebrating 40 years of going the extra mile for its clients. A leader in consumer-driven real estate, SRS provides commercial real estate solutions across retail, industrial, and capital markets. Headquartered in Dallas with 30 offices nationwide, the firm measures its success by the achievement of its clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.