Chandler Plaza Lehigh Acres, Florida

$2,475,000
Not Available
Property type: Multi-Tenant / Shopping Center

The space

  • Listing Price: $2,475,000
  • Cap Rate: 7.57%
  • Net Operating Income: $187,383
  • Rentable Square Feet: 8,000
  • Price PSF: $334.61
  • Parking Spaces: 26
  • Land Area: 29,375 SF
  • Year Built/Renovated: 1986 / 2022

Description

1315 Homestead Rd N
Lehigh Acres, Florida 33936

Investment Highlights

  • 8,000 Square Feet of Multi-Tenant Retail, 100% Occupied
  • Anchored by Trulieve Cannabis Corp. (OTC: TCNNF) | All Tenants Have Guaranteed Triple Net (NNN) Leases With 3% Annual Rent Increases
  • Entire Shopping Center Repainted and All Doors and Windows Were Resealed in 2022
  • Population Nearly 100,000 in Five Miles of Subject Property
  • Located on Homestead Road With a Traffic Count of More Than 27,500 Vehicles Daily | Just Off Lee Boulevard With More Than 50,000 Vehicles Daily, and Directly Connecting Lehigh Acres to Fort Myers
  • A Half Mile from Fountain Crest Retirement Community | Directly Across the Street from Publix-Anchored Center
  • Less Than a Mile from Lehigh Regional Medical Center, 53-Bed Hospital With More Than 100 Physicians
  • Other Surrounding National Retailers Include Walmart Supercenter, Aldi, Bravo Supermarket, Bealls Outlet, Save-a-lot, World Gym, Family Dollar, Dollar General, Aaron’s, Tire Kingdom, AutoZone, Verizon Wireless, Cricket Wireless, H&R Block, Pinch a Penny, Ace Hardware, McDonald’s, Burger King, Pizza Hut, Wendy’s, Taco Bell, Dunkin’, Wells Fargo, Bank of America, CVS and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Chandler Plaza, a multi-tenant retail center located in Lehigh Acres, FL (Fort Myers MSA). The subject property includes approximately 8,000 square feet of space and is 100% occupied, anchored by Trulieve Cannabis Corp., the leader of medical marijuana sales in FL. All tenants have guaranteed triple net (NNN) leases with 3% annual rent increases.The entire shopping center has gone through recent improvements. In 2022, the building was repainted, and all doors and windows were resealed, the parking lot resealed and striped, and all fixtures/box signs resealed, caulked and painted. The signs electric/lighting system and monument sign was also redesigned/redone in 2022. A new metal roof was installed in November 2016. All soffits were replaced with vinyl for added durability, in October 2017.The subject property is located directly across the street from a Publix-anchored center, and a half mile from Fountain Crest Retirement Community. Also located less than a mile from Lehigh Regional Medical Center, 53-bed hospital with more than 100 physicians.Chandler Plaza’s location offers strong traffic counts, with a population of nearly 100,000 in five miles; located off Homestead Road with a traffic count of more than 27,500 vehicles daily and just off Lee Boulevard with more than 50,000 vehicles daily, and directly connecting Lehigh Acres to Fort Myers. Surrounding national retailers include Walmart Supercenter, Aldi, Bravo Supermarket, Bealls Outlet, Save-a-lot, World Gym, Family Dollar, Dollar General, Aaron’s, Tire Kingdom, AutoZone, Verizon Wireless, Cricket Wireless, H&R Block, Pinch a Penny, Ace Hardware, McDonald’s, Burger King, Pizza Hut, Wendy’s, Taco Bell, Dunkin’, Wells Fargo, Bank of America, CVS and many more.

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