5805 Manatee Ave W - Storefront FOR SALE


Bradenton, FL 34209
$8,110,000 USD
949-221-1814
5805 Manatee Ave W, Bradenton, FL for Sale
$8,110,000 USD
Storefront - FOR SALE
1/5
null | 4.25% Cap Rate

5805 Manatee Ave W
Bradenton, FL 34209


HIGHLIGHTS

  • ALDI Corporate Guaranty | Top Supermarket Tenant | $155 Billion reported revenue in 2024 | 13,475+ stores worldwide
  • Ranked 4th in the Top 50 Global Retailers (National Retail Foundation, December 2024)
  • New 16 Year Net Lease with Zero Landlord Responsibilities | Low base rent for 48,000+ square foot building
  • Unique rental escalation schedule including option periods | ALDI has committed over $1,700,000 towards renovations
  • Manatee Ave / FL-64 (45,000 VPD) is a major traffic artery for the community of Bradenton
  • Bradenton Florida: Major Growth and a top market within the Tampa-Sarasota-Northport MSA(S)

OVERVIEW

BROKER OF RECORD...SCOTT AYRES DeYOUNG .....FL BK 3421401 Faris Lee Investments is pleased to present the rare opportunity to acquire a single-tenant ALDI investment property located in the high growth city of Bradenton, Florida within the Tampa– Sarasota–North Port MSA. ALDI is subject to a corporately guaranteed net lease with 16 years remaining on the base term. The lease includes 10% rental escalations every 5 years during the 16 year base term, a 15.5% increase for the first option period, a 20% increase for the second option period, and a 10% increase for the third and fourth options. The subject property has operated as a Grocery destination for the residents of Bradenton for 50+ years. ALDI assumed control of this high performing legacy grocer asset through their recent acquisition of the Winn-Dixie chain. ALDI is currently undergoing extension renovations to the property with the Opening estimated for August 2025. ALDI has displayed tremendous commitment to the site by spending $1,700,000 on renovations and agreeing to a rent commencement date nearly a year before the set estimated opening date. The subject property is strategically positioned at the signalized intersection of Manatee Avenue West (FL-64, 45,000 VPD) and 59th Street West (17,258 VPD) with excellent visibility and access within the dense trade area. The national grocer chain will benefit from the ideal demographics that include 148,000+ residents and an average household income exceeding $111,000 within a 1-mile radius. ALDI will serve as the anchor tenant to Palma Sola Square, a 120,000 SF daily-needs shopping center with nearby national retailers including: Publix, Target, Planet Fitness and Bealls. Bradenton is a top migration destination, ranked #4 in U-Haul’s 2023 report and #2 in net population growth nationally in 2021. The site benefits from $111K+ average household income within 1 mile and a dense trade area of 148,000+ residents within 5 miles, all in a state with no income tax. Backed by ALDI’s U.S. corporate entity, the tenant generated $155 billion in global revenue in 2024 and is ranked #4 on NRF’s Top 50 Global Retailers list, offering exceptional credit strength in a proven location.

FOR SALE DETAILS

PRICE

$8,110,000 USD

PRICE/SF

$56 USD /SF

CAP RATE

4.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

ALDI Corporate NNN Investment

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Fast Food, Restaurant, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

8.91 AC

LAND SF

388,120 SF

ZONING

GC

APN/PARCEL ID

38016-1045-6,38016-1050-9

ASK ABOUT THIS PROPERTY

Hunter SteffienFaris Lee InvestmentsMore Info
949-221-1814

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Hunter SteffienFaris Lee InvestmentsMore Info
949-221-1814

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