Listing Agency: MERRITT REALTY

Listed By: Kevin Riordan · License #SL 33660231 Show Phone

Source: Crexi

Added: Oct 21, 2023 Changed: Oct 25 Last Checked: Oct 26 at 3:32PM

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Investment Insights

Based on property information with market context.

Key Highlights

• Prime .63 acre out parcel in Placida, FL.
• Located near Boca Grande, Palm Island, and Gasparilla Island.
• High return on investment potential.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$58,703

Cap Rate

6.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,174,060 $1.2M

Cap Rate 7%

$838,614 $838.6K

Cap Rate 9%

$652,256 $652.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,300 SF

Gross rent

$86.7K $26.28/SF

− Vacancy

−$2.9K −$0.87/SF

EGI

$83.9K $25.41/SF

− OpEx

−$25.2K −$7.62/SF

NOI

$58.7K $17.79/SF

Area

Charlotte County, FL

Vacancy

3.30%

Lease Rate

$26.28 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,174,060

Cap Rate 7%

$838,614

Cap Rate 9%

$652,256

Alternative Uses

Best Use

Retail

$838.6K

$733.8K – $978.4K (±1% cap)

NOI $58,703 @ 7.0% cap · market cap 6.02%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.08M

$945.5K – $1.26M (±1% cap)

NOI $75,636 @ 7.0% cap · market cap 7.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Dental Office Building Supply HVAC Service Law Firm Hair Salon Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

87

Businesses Nearby

Explore this area Business Placement

Demographics for 33946, FL

2,485

Population

3,217

Households

0.8

Avg Household Size

67

Median Age

45%

College-Educated

97%

High-School Grad

10.8 sq mi

ZIP Area

230

Density / Sq Mi

$93,466

Median Household Income

$870

Median Rent

$626,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Similar For Sale Nearby

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Grande Storage Condos of Rotonda West

Placida, FL 33981

$267,000

1,248 SF

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Commercial Land Parcel

4270 Cape Haze Dr, Placida, FL 33946

$59,000

0.24 Acres

View details

Frequently Asked Questions

Where is this retail space located?

The property is located at 8495 Placida Rd Placida, FL.

What is the asking price?

The asking price for this property is $975,000.

What are key features of this property?

This property features: Prime .63 acre out parcel in Placida, FL.; Located near Boca Grande, Palm Island, and Gasparilla Island.; High return on investment potential.