Triple Towers Plaza 2010 SE US Highway 19 11,205 SF 100% Leased Retail Building Crystal River, FL 34429 $2,892,351 CAD ($258.13 CAD/SF) 5.59% Cap Rate

Triple Towers Plaza — Strategic Retail Powerhouse in the Heart of Citrus County
Triple Towers Plaza delivers a rare blend of location, stability, and expansion upside in one of the fastest-growing corridors of the Tampa–St. Petersburg MSA. Positioned just off the high-traffic intersection of US Hwy 19 and W G Fort Island Trail, this Anytime Fitness–anchored neighborhood center comprises 11,205 SF across four units on 3.55 acres of high-intensity commercial zoning. With 305 feet of dominant frontage on US 19 (32,500 AADT) plus secondary frontage and access along Fort Island Trail (7,300 AADT), the site is engineered for maximum visibility and sustained customer flow.
Currently 91% occupied, the plaza offers immediate income stability with additional NOI growth potential through lease-up of the final vacancy. The property further capitalizes on every square foot of land, supported by 111 parking spaces, an existing cell tower lease, and overflow vehicle storage utilized by Jenkins Kia next door. Surrounded by major national and regional drivers—including a high-performing grocery anchor and the booming Crystal River tourism and recreation district—Triple Towers Plaza commands a daily influx of consumers, commuters, and destination traffic.
Located within Citrus County, one of the Tampa MSA’s most quietly explosive growth markets, the property benefits from a community that now exceeds 155,582 residents with a 1.29% annual population growth rate. With more than 60,000 vacant parcels approved for future development, the region is rapidly transforming into a magnet for commercial, residential, and mixed-use expansion.
Triple Towers Plaza isn’t just a retail center — it’s a strategic foothold in the next chapter of Citrus County’s growth. In this market, momentum favors the prepared. Here, your enterprise moves into the slipstream of that momentum.
Annual Financial Snap Shot:
-Effective Gross Income: $ 180,746.00
-Expenes: $ 60,555.00
-Net Operating Income: $ 120,191.00
-Cap Rate: 5.59 % Cap Rate
Performa Financial Snap Shot:
-Potential Gross Income: $ 219,074.00
-Expenses: $ 60,554.00
-Net Operating Income: $ 159,000.
-Cap Rate: 7.37 Cap Rate
Trending Cap Rates Tampa/St Petersburg MSA:
-Median Asking Cap Rate: 5.8 %
-Median Sold Cap Rate: 6.7 %
Logistic Details:
-County Road 486 runs entirely along West Norvell Bryant Highway. It runs West to East from SR 44 east of Crystal River into US-41 in Hernando, just south of the southern terminus of SR 200. The route was once former SR 486. County Road 486 spans 4 lanes, is almost entirely a divided highway, and is flanked by a parallel bicycle path on the south side.
-County Road 491 is Lecanto Highway, a bi-county South to North road that begins at the Hernando-Citrus County Line in Oak Grove near the Withlacoochee State Forest, and ends at SR 200 in Stoke's Ferry, just south of the intersection with the northern segment of CR 39. It was formerly designated as SR 491.
-County Road 44 (often marked as County Road 44W) exists as the western tip of old Florida State Road 44, south of "Downtown" Crystal River. The suffix "W" was most likely added to not confuse this section with State Road 44, to the north, and to show its location by being west of US 19 and US 98(SR 55). As with the majority of these type of 'coastal spur' routes, in West Central Florida, it is county maintained.
-U. S. Route 19 (US-19) runs 264 miles (425 km) along Florida's West Coast from an interchange with U. S. Route 41 in Memphis, Florida, south of Tampa, and continues to the Georgia border north of Monticello, Florida. Newly 6 lane Hwy constructed from Hernando County line to Fort Island Trail and US 19 in Crystal River, Florida.
Suncoast Parkway:
The Suncoast Parkway recently opened was a of $135 Million Dollar expansion which extends 13 miles north from US-98 to SR 44 which features 15 new bridges, electronic tolling gantries and the extension of The Suncoast Trail part of the Florida's Statewide Greenways and Trail System. The Suncoast Parkway is just 68 Miles 1 hour and 15 mins from Tampa making it a great commuting Highway for workforce seeking to be outside of the Tampa traffic. The Veterans Expressway and Suncoast Parkway is a north–south toll road near the Florida Gulf Coast. Maintained and operated by Florida's Turnpike Enterprise, this 68-mile transportation corridor extends from State Road 60 in Tampa, north to State Road 44 near Lecanto.
Citrus County Growth:
Citrus County, Florida's estimated population is 155,582 with a growth rate of 1.29% in the past year according to the most recent United States census data. Citrus County, Florida is the 34th largest county in Florida. The 2010 Population was 141,173 and has seen a growth of 10.21% since this time. Citrus County current LDC allows for approximately a population of 350k residencies. Given the expansion of the Suncoast Parkway and the 6 lane expansion of US 19 we are in the path of tremendous growth. Currently Citrus County has 60,000 vacant parcels of land prime for development. The County and incorporated Cities have plans for extensive utility expansion throughout the county including the expansion of the Crystal River Airport Run Way 5000 feet to allow for larger aircraft to land and take off including a newly funded 75 acres industrial complex granted by the state to expand utilities, road reconstruction to support eighteen wheelers and to include environmentally friendly and energy conservation features.
Community Development:
-957 single-family residential homes on a 354-acre site in Lecanto.
-500 lot subdivision, located in Citrus Springs by Habitat for Humanity of Citrus County.
-Green Mills Group in 2020 built a 106-unit apartment campus offering affordable housing on Colonade Street in Inverness.
-County commissioners approved a planned unit development (PUD) for Preservation Point RV Resort, a 234-acre property.
-Jaymelday Holdings LLC calls for up to 600 RV sites, along with amenities such as pool, golf cart rentals, bar and grill, basketball court and walking trails in Crystal River.
-207 Home subdivision by DR Horton in Beverly Hills, Florida Citrus Ridge Area.
-930 Unit Subdivision in Planning with national builder in Lecanto just off the Suncoast Parkway extension on SR 44.