2691 Placida Rd Englewood, FL 34224-5558

Property Details for 2691 Placida Rd

Year built

1978

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.54 lot acres

Property size

3,012 SF

Zone code

CG COMMERCIAL-GENERAL

Property type

Banks

APN

41-20-08-462-002

APU

412008462002

Description

This exceptional investment opportunity presents a fee-simple, absolute NNN lease on a 3,030 square foot former Truist Bank branch located at 2691 Placida Rd, Englewood, FL 34224. The property boasts a strong 11.70% cap rate and a current NOI of $374,535, with a lease expiration date of November 30, 2025, leaving one year remaining on the lease term. The tenant possesses a credit rating, ensuring financial stability. The property sits on a sizable 0.54-acre lot at a hard-corner, signalized intersection of Placida Road and Mississippi Avenue, experiencing daily traffic counts exceeding 15,800 vehicles. The asking price is $3,200,000, translating to a price per square foot of $1,056.11. Rent increases annually at 3%. The property benefits from its location in a thriving community near Englewood Community Hospital, Cape Coral Hospital, several schools (including Vineland Elementary, Heritage Christian Academy, and Lemon Bay High School), Southern Technical College, Myakka River State Park, and Grove City Walking Park. This presents a compelling investment opportunity in a desirable Florida location with significant upside potential. The property is currently 100% occupied. The investment is further enhanced by Florida's no-income-tax status.