1701 Oak St, Arcadia, FL 34266-8989
- Outlet malls
- 66,826 SF
- 6.21 lot acres
Current Use by Public Records
- Tractor Supply Co. / Pet Store & Service
- Pet Vaccination Clinic at Tractor Supply Co. / Veterinary Clinic
- Goodwill Manasota - Retail Store & Donation Center / Discount Store
- Garden Center at Tractor Supply / Garden Center
Property Details for 1701 Oak St
- Year built
- 1984
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 6.21 lot acres
- Zone code
- CG
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- APN
- 32-37-25-0000-0202-0000
- APU
- 323725000002020000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Apr 19, 2006 | $6,400,000 | Arcadia Property LLC | Arcadia Pointe LLC | Warranty Deed | $4.8M · Banco Popular North America |
| Jul 2, 1999 | $5,100,000 | Arcadia Pointe LLC | Capstone Atlantic Vi LP | Grant Deed | $3.5M · First Union National Bank |
| Apr 6, 1998 | $3,450,000 | Capstone Atlantic Vi LP | Jonpat Associates | Grant Deed | $3.2M · Credit Suisse First Boston Mtg |
Description
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.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,720,000
- AI Estimate
- $3,466,000
Market price range: $1.48M - $4.07MMarket price range: $1.75M - $6.06M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $2,985,000 Current use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Arcadia
- County
- Desoto
- State
- Florida
- Longitude
- -81.8401
- Latitude
- 27.2104
- CBSA code
- 11580
- CBSA name
- ARCADIA, FL MICROPOLITAN STATISTICAL AREA
