1701 Oak St Arcadia, FL 34266-8989

Arcadia Plaza, a 98,666 square foot shopping center in Arcadia, Florida, is offered for sale at $12,000,000. This stabilized, multi-tenant NNN investment boasts a 7.20% cap rate and a strong NOI of $876,798. Currently 96% occupied, the center features 15 units with 72% national tenants, including Tractor Supply, Goodwill, Hibbett Sports, Pet Supermarket, Beef O'Brady's, and H&R Block, showcasing an average tenure of 16 years. A significant value-add opportunity exists due to 32% of rents being below market rates, along with the potential for an outparcel development. The property enjoys excellent visibility and access via five points of ingress/egress, situated on a major retail artery (SR 70) connecting to Sarasota, Bradenton, and Fort Myers. The center benefits from a shadow anchor, a Winn-Dixie store (separately owned), soon to be renovated and rebranded as an Aldi, further enhancing traffic and value. Recent capital improvements include partial roof replacement (2021), LED lighting conversion, and AC unit replacements (2023). The surrounding area includes numerous national retailers and is complemented by a thriving local community with golf courses, RV resorts, and access to the Peace River. The property's NOI has shown impressive growth, with a 10-year compound annual growth rate (CAGR) of 34.8%. Leases currently extend through 2026.