2961 Placida Rd - Storefront FOR SALE


Englewood, FL 34224
$2,450,000 USD
239-777-6280
2961 Placida Rd, Englewood, FL for Sale
$2,450,000 USD
Storefront - FOR SALE
1/5
null | 6.26% Cap Rate

2961 Placida Rd
Englewood, FL 34224


HIGHLIGHTS

  • VALUE-ADD OPPORTUNITY: Below market rents currently in-place with some long-term tenants, offering potential upside for investors
  • EXCELLENT EXPOSURE: Highly sought-after corner location on Placida Road provides high visibility and exposure
  • HIGH TRAFFIC COUNTS: The center fronts one of the most heavily traveled corridors, just minutes from the water

OVERVIEW

This fully leased, multi-tenant retail strip center is located at a signalized, high-traffic intersection at Placida Road and San Casa Drive in Charlotte County. This offering represents an excellent investment opportunity with value-add potential, as several rents are currently below market. The center is situated in a well-traveled corridor near the water and consists of a single building with seven tenants on approximately 1.22 acres. The site sits on higher ground and did not experience flooding during recent storms. It also features a diverse tenant mix, with many long-term leases in place. Several of these leases include built-in rent increases, offering a projected CAP rate of over 6% based on future NOI. Ownership has recently made a substantial investment in improvements, including: ·Exterior repainting ·New pylon sign ·New illuminated tenant signage above each unit ·New light fixtures installed at the rear entrances of all units ·New HVAC units in several tenant-occupied spaces ·Restriping of the parking lot and installation of new parking curbs ·Resurfacing of the front sidewalk

FOR SALE DETAILS

PRICE

$2,450,000 USD

PRICE/SF

$183 USD /SF

CAP RATE

6.26%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

San Casa Square

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

58

LAND DETAILS

LAND ACRES

1.22 AC

LAND SF

53,143 SF

ZONING

CG

APN/PARCEL ID

412017277001

ASK ABOUT THIS PROPERTY

Michael MahanLee & AssociatesMore Info
239-777-6280

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Michael MahanLee & AssociatesMore Info
239-777-6280

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