|Gross Leasable Area (GLA)||9,610 Sq.Ft.|
|Price Per Square Foot (GLA)||$134|
|Lot Size||1.04 Acres|
Marcus & Millichap is pleased to present a 9,610 square foot retail center which shadows a 215,000 square foot Walmart Supercenter. The property is ideally situated on one of two main entrances to Walmart, which is located on the highly desirable intersection of US-41 and US-301. Positioned adjacent to Dunkin’ Donuts on Hasko Road, this asset is home to a number of staple destination tenants that serve the immediate community. National retailers such as Aldi, Taco Bell, Wendy’s and McDonald’s surround the property and make this location a destination hot spot.
Palmetto is conveniently located along the Gulf of Mexico and is part of the North Port-Sarasota-Bradenton MSA. Located approximately 50 miles south of Tampa, the metropolitan area is one of the fastest growing in the country, and is renowned for its cultural and environmental amenities, beach resorts and Spanish influence.
Built in 2007, this center provides a new buyer with an opportunity to purchase a stabilized retail asset with little to no management responsibility and annual increases that act as a hedge against inflation. An investor can get into the deal for just under $400,000, which will yield an 8.51 percent cap rate day one, with an expected cash-on-cash return of 12 percent.