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