Publix & Harbor Freight Plaza (New Construction) Arcadia, Florida

$13,410,000
Cap Rate: 6.00%
Property type: Multi-Tenant / Shopping Center

Property Details

Cap Rate: 6.00%
Price: $13,410,00
Net Operating Income: $804,617
Price PSF: $198.37
Gross Leasable Area: 67,608 SF
Lot Size: ±8.24 Acres
Occupancy: 100%
Year Built: 2016 / 2019*

2515-2551 Southeast Highway 70
Arcadia, FL 34266

Investment Highlights

  • New 67,608-Square-Foot Publix and Harbor Freight Anchored Center
  • 100 Percent Occupied by Publix, Publix Liquors, Harbor Freight, Pizza Hut, T-Mobile, Great Clips and Happy Nails
  • Excellent, Complementary Tenant Mix with 98 Percent National Tenants
  • Fresh Tenant Leases
  • Attractive Building Constructed in 2016 and Expanded in 2019 to Add Space Occupied by Harbor Freight
  • Current Prototype/Footprints for Publix and Harbor Freight
  • The Nearest Publix is 23 Miles from the Subject Property
  • Located on the Main Commercial Artery of a Central Retail Hub
  • Outparcels of the Subject Property Include Walgreens, Taco Bell and KFC
  • Several Thousand Housing Units are Being Planned in the Area Allowing for Doubling of the Population in the Next Five to 10 Years
  • Other Surrounding Tenants Include Walmart Supercenter, Winn- Dixie, Bealls, Save-A-Lot, Sears, Tractor Supply Company, Holiday Inn Express, Chili’s, McDonald’s, Burger King, Wawa (In Development) Beef O’Brady’s, Dunkin Donuts and Wells Fargo
  • Two Miles from South Florida State College – DeSoto Campus

 

Investment Summary

Marcus & Millichap is pleased to exclusively offer for sale Arcadia Crossing, a new 67,608-square-foot Publix and Harbor Freight anchored center in Arcadia, Florida. The subject property was constructed in 2016 and expanded in 2019 to add space occupied by Harbor Freight. The plaza is 100 percent occupied by Publix, Publix Liquors, Harbor Freight, Pizza Hut, T-Mobile, Great Clips and Happy Nails. It has an excellent, complementary tenant mix with 98 percent national tenants. All tenants have fresh leases.

The building prototype/footprints are current for Publix and Harbor Freight. The subject property is located on the main commercial artery of a central retail hub. Outparcels of the plaza include Walgreens, Taco Bell and KFC. Other surrounding tenants include Walmart Supercenter, Winn- Dixie, Beall’s, Save-A-Lot, Sears, Tractor Supply Company, Holiday Inn Express, Chili’s, McDonald’s, Burger King, Wawa (In Development) Beef O’Brady’s, Dunkin Donuts and Wells Fargo.

In the immediate surrounding area there are several thousand housing units being planned, allowing for doubling of the population in the next five to 10 years. This property is two miles from South Florida State College – DeSoto Campus. The nearest Publix is 23 miles from the subject property.

Publix has the number one market share in the State of Florida and is one of the nation’s leading grocers with 1,250 stores and 193,000 employees. Publix has maintained positive comparable stores sales growth and continues to grow their store count. Harbor Freight Tools has more than 1,000 stores across the country, with over 40 million customers and in 2018 had a revenue of $5 billion.

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