Saxon Sterling Shops 1573 Saxon Blvd 14,500 SF 4-Star Retail Building Deltona, FL 32725 $8,602,508 CAD ($593.28 CAD/SF) 6% Cap Rate

Marcus and Millichap is pleased to present the opportunity to purchase the fee simple interest in a 14,500 square foot neighborhood retail center in Deltona, Florida. The property is 100% occupied by long-term, service-oriented retailers, all of whom have signed multiple lease renewals since taking occupancy. The property is positioned at a signalized intersection and shadow anchored by one of the busiest Walmart Neighborhood Markets in the country. Walmart fully renovated this location in 2025. The tenants are a mix of local and national tenants, an ideal mix of synergistic uses who co-exist in harmony with each other and with the high-volume grocery store around which they orbit.
Average rents are comfortably in the mid-$20 per square foot range and all tenants operate on NNN leases which provide for full reimbursement of all operating expenses, including a third party management fee. A new owner should be able to take advantage of strong fixed rent increases, structured into the leases; however, two of the tenants have lease expiries pending within the next 2 years and no renewal options remaining. This is a property that affords the next landlord a clear path to continued rent growth and overall value appreciation.
Deltona, Florida is located outside of Orlando, between Orlando and Daytona Beach, frequently ranked as the fastest growing large metro in the United States, adding roughly 1,500 new residents per week. An aerial map of Deltona reveals the sheer density of single-family home development in this municipality, with zero available land left for additional development – whether residential or retail/commercial. This high barrier to entry is what allows the next owner to project continued rent growth over at least a five or ten-year period. There is nowhere else for these tenants to relocate, and no options for new tenants entering the market to gain access to these growing demographics and healthy traffic counts of approximately 38,000 vehicles per day.
This is an excellent opportunity to purchase a well-maintained retail asset, with modest in-place rents, in a rapidly growing pocket of the sunbelt. Please reach out to Marcus & Millichap for additional information.