181 Rardin Ave - Storefront FOR SALE


Pahokee, FL 33476
$1,250,000 USD
561-245-0486
181 Rardin Ave, Pahokee, FL for Sale
$1,250,000 USD
Storefront - FOR SALE
1/7
null | 7.08% Cap Rate

181 Rardin Ave
Pahokee, FL 33476


OVERVIEW

Marcus & Millichap is pleased to present Thrifty Supermarket Center, a ±10,136 square-foot retail center and on ±1.73 acres at 181 Rardin Avenue, in Pahokee, Florida. The sale also includes a contiguous vacant lot zoned commercial which is a part of the Commercial Office Residential and Entertainment (CORE) district. The lot is ±0.67 acres and included in the ±1.73 acres mentioned above. Currently the property is 100 percent occupied and offers investors a unique opportunity to purchase a retail center with the ability to expand or sell off the separate piece of land to lower your basis. The Property also benefits from recent capital improvements, with the roof being replaced in 2021, the electric meters were upgraded in 2023, and the parking lot was redone with new asphalt in 2023. Thriftway Supermarket Center is positioned less than one quarter mile from the Pahokee Marina. The Glades region, which includes Pahokee, is designated as a (RACEC) by the state. This designation provides various incentives and waivers for businesses and developers, such as tax refunds and low-cost loan programs. This makes the area more attractive for new businesses and job creation. Also, the property is strategically located within a 100-mile radius of 85% of Florida's population. It is also the epicenter of a vast agricultural industry and is home to emerging sectors like food processing, manufacturing, and logistics. Finally, there is a significant push for new construction and community development in surrounding areas like Westlake, Loxahatchee, and Palm Beach Gardens. This activity could lead to increased population and economic vitality in the broader region, with spillover effects for communities like Pahokee.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$123 USD /SF

CAP RATE

7.08%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1962

SPRINKLERS

-

PARKING SPACES

53

LAND DETAILS

LAND ACRES

1.06 AC

LAND SF

46,174 SF

ZONING

C1

APN/PARCEL ID

48-37-42-18-18-004-0050

ASK ABOUT THIS PROPERTY

Nicholas McAndrewMarcus & MillichapMore Info
561-245-0486

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Nicholas McAndrewMarcus & MillichapMore Info
561-245-0486

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.