Neighborhood Shopping Center with Shared
For Sale
$10,065,436
713 Bald Eagle Dr, Marco Island, FL 34145
Pelican Plaza is a neighborhood shopping center with multiple retail tenants and shared parking on 2.15 acres.
Property Size24,570 SF
Lot Size2.15 Acres
Price / SF$409.66
Days on Market81
Property Features for 713 Bald Eagle Dr
General Information
Standard status
Active
Size
24,570 SF
Total Parking Spaces
153
Lot size
2.15 Acres
Property subtype
Retail
Additional Details
Business Included
Yes
Road Access
Yes
Building Details
Building Size
24,570 SF
Year Built
1978
Tenancy
Multi
Listing Agency:
Lee & Associates | Orlando
Listed By:
Biagio Bernardo
(239) 293-2350
Source:
Lee-associates
Added: Jun 17
Changed: Sep 4
Last Checked: Sep 4 at 3:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates | Orlando
Investment Insights
Based on property information with market context.
Pelican Plaza is a 24,570± SF neighborhood shopping center situated on 2.15± acres. The center includes approximately 375 feet of frontage and 153 shared parking spaces, supporting a tenant mix that includes restaurants, service providers, specialty retailers, and marine-related businesses. The property is described as having historically high occupancy with strong in-place income.
Pelican Plaza is located along Bald Eagle Drive near the intersection of Collier Boulevard, positioned in the heart of Marco Island’s primary commercial corridor. The remarks note strong visibility and traffic counts, along with a market characterized by limited new commercial development opportunities.
The property is offered for sale as an income-producing retail asset, with stated value-add potential through rent growth, lease rollover, and future redevelopment opportunities.
Pelican Plaza is located along Bald Eagle Drive near the intersection of Collier Boulevard, positioned in the heart of Marco Island’s primary commercial corridor. The remarks note strong visibility and traffic counts, along with a market characterized by limited new commercial development opportunities.
The property is offered for sale as an income-producing retail asset, with stated value-add potential through rent growth, lease rollover, and future redevelopment opportunities.
Key Highlights
- Pelican Plaza is a 24,570± SF neighborhood shopping center on 2.15± acres
- Situated on Bald Eagle Drive near the intersection with Collier Boulevard and offers approx. 375 feet of frontage
- Includes 153 shared parking spaces for tenant and customer use
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$299,180
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,983,600
$6.0M
Cap Rate 7%
$4,274,000
$4.3M
Cap Rate 9%
$3,324,222
$3.3M
Market Conditions
NOI Build-Up for 24,570 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$445.2K $18.12/SF
− Vacancy
−$17.8K −$0.72/SF
EGI
$427.4K $17.40/SF
− OpEx
−$128.2K −$5.22/SF
NOI
$299.2K $12.18/SF
Area
Collier County, FL
Vacancy
4.00%
Lease Rate
$18.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,983,600
Cap Rate 7%
$4,274,000
Cap Rate 9%
$3,324,222
Alternative Uses
Best Use
Retail
$4.27M
$3.74M – $4.99M
NOI $299,180 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.86M
$8.63M – $11.50M
NOI $690,275 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,259
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34145, FL
15,717
Population
18,436
Households
0.9
Avg Household Size
66
Median Age
48%
College-Educated
97%
High-School Grad
16.3 sq mi
ZIP Area
964
Density / Sq Mi
$104,105
Median Household Income
$53,813
Median Earnings
$1,955
Median Rent
$866,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Pelican Plaza is a neighborhood shopping center with multiple retail tenants and shared parking on 2.15 acres.
Where is this shopping center located?
The property is located at 713 Bald Eagle Dr Marco Island, FL.
What is the asking price?
The asking price for this property is $10,065,436.
What are key features of this property?
This property features: Pelican Plaza is a 24,570± SF neighborhood shopping center on 2.15± acres; Situated on Bald Eagle Drive near the intersection with Collier Boulevard and offers approx. 375 feet of frontage; Includes 153 shared parking spaces for tenant and customer use
