900 Marion Ave Punta Gorda, FL 33950

Property Details for 900 Marion Ave

Year built

1994

Lot size

4.04 lot acres

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This exceptional mixed-use investment opportunity in Punta Gorda, Florida, presents a compelling value-add proposition. The property comprises three buildings totaling 40,861 square feet of net rentable space, situated on a sizable 4.04-acre lot. Currently, the property is 49.7% occupied, with the Military Heritage Museum leasing one building significantly below market rent, holding two five-year options to renew at fair market value. The current submarket rent is $23.20 per square foot (per Costar). This presents a significant opportunity to increase revenue through lease-up and rent adjustments. The property boasts beautiful panoramic views of Charlotte Harbor and is conveniently located within walking distance of upscale restaurants and shops. Its strategic location borders four roads: W. Retta Esplanade, Shreve Street, W. Marion Ave, and Pittman Street. Furthermore, it benefits from excellent accessibility, less than a mile from Tamiami Trail (US 41) with 28,000 vehicles daily, three miles from Interstate 75, and four miles from Punta Gorda Airport. The surrounding area exhibits strong demographics, with a five-mile population of 60,000 and a one-mile average household income of $109,000. The property also includes an on-site security guard house and offers potential for future redevelopment, given its location within a neighborhood residential district that allows for residential development. The property's address is 900 W Marion Ave, Punta Gorda, FL 33950, with APN 41-22-12-204-001. The property is offered fee simple. Built in 1994, this property represents a rare chance to acquire a substantial mixed-use asset with significant upside potential in a thriving Florida market.

Location Insight

City

Punta Gorda

County

Charlotte

State

Florida

Longitude

-82.0591

Latitude

26.9289