2231 Hwy 70 Arcadia, FL 34266-5625

Property Details for 2231 Hwy 70

Year built

1972

Lot size

2.21 lot acres

Zone code

CG

Property type

Commercial land

APN

05-38-25-0000-0091-0000

APU

53825000000910000

Description

This exceptional investment opportunity presents a brand-new, 19,000-square-foot Planet Fitness shopping center in Arcadia, Florida. Located at 2231 SE Hwy 70, this single-tenant property boasts a strong 100% occupancy rate with a 10-year lease in place with a proven franchisee. The building, completed in 2023, sits on a 2.21-acre lot and offers excellent visibility and accessibility from Highway 70. The property's financial performance is impressive, with a stabilized investment type, a net lease structure (NN), and a current NOI of $220,000, resulting in a compelling 6.03% cap rate. The asking price is $3,650,000, translating to $192.11 per square foot. The lease includes a beneficial provision for 10% rent increases every five years, ensuring consistent growth in future cash flow. Surrounding the property are other strong area retailers, further enhancing its value and potential for long-term appreciation. This is a rare chance to acquire a high-performing, newly constructed retail asset in a desirable location with a secure, long-term tenant. The property is situated in Desoto County, Florida, with a zip code of 34266.