Deep Creek Plaza – Punta Gorda, FL

Deep Creek Plaza – Punta Gorda, FL

Deep Creek Plaza – Punta Gorda, FL
2000 Rio De Janeiro Avenue
Punta Gorda, Fl 33983

$1,195,000

Cap Rate 9.90%
Gross Leasable Area (GLA) 12,776 Sq.Ft.
Price Per Square Foot (GLA) $90
Year Built 1988
Lot Size 1.45 Acres
  • Increase Income to Over 20 Percent Cash-on-Cash Return by Leasing Vacancy
  • 2nd Largest SunTrust Bank in Punta Gorda | $56 Million in Deposits
  • Less Than $94 Per Square Foot
  • 10 Percent Capitalization Rate Upon Stabilization
 
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Deep Creek Plaza – Punta Gorda, FL (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

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.

For More Information, Please Contact:

Armando Rodriguez

Associate
813-387-4806
Armando.Rodriguez@MarcusMillichap.com