|Gross Leasable Area (GLA)||12,776 Sq.Ft.|
|Price Per Square Foot (GLA)||$90|
|Lot Size||1.45 Acres|
Marcus & Millichap is pleased to announce the sale of Deep Creek Plaza located in Punta Gorda, Florida, the county seat for Charlotte County.
The subject property is a 12,776-square foot SunTrust anchored shopping center built in 1988 and renovated in 2013. The property is currently priced at under $94 per foot and is occupied by an attractive tenant mix including a consumer bank, beauty salon, pizza resturant and other local tenants. The center is currently 72 percent occupied with the ability to bring the cash-on-cash return to an estimated 20 percent by leasing the remaining space. The plaza is ideally located within Deep Creek at the fourway intersection of Rio De Janeiro Avenue and Rampart Boulevard. As of June 2014, the SunTrust anchor tenant had deposits of $56,409,000, making it the second largest Sun Trust location in Punta Gorda.