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Shopping Strip

Fresh Choice Market Plaza | Opportunity Zone | Income Tax Free State

201 S Charleston Ave, Fort Meade, FL 33841

Listing Price: $1,800,000

Cap Rate
7.82%
Rentable SF
26,080
Lot Size
1.93 acres
Year Built
1971

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Fresh Choice Market Plaza located at 201 S Charleston Ave, in Fort Meade, Florida. The site consists of 26,080 total square feet of building space and sits on 1.93 acres of land. The site will be subject to a 10-year sale-leaseback with Fresh Choice Market. Starting in year one, the total base rent shall be $161,652. The lease will call for 2.0% annual rental escalations during the base term for the grocer and throughout the three, five-year renewal option periods (25-year total term). Given it's unique nature, Fresh Choice Market Plaza also features a co-tenant, Scaling Made Simple Manufacturing. Scaling Made Simple Manufacturing will feature 3.0% annual rental escalations throughout their lease. The subject property benefits from being located in a dense residential corridor surrounded by limited competition, educational facilities and manufacturing plants. Located on South Charleston Avenue, the subject property is surrounded with the following major tenants in the immediate area; Dollar General, Dollar Tree, Burger King, Sunoco Gas Station, Circle K , McDonald's as well as other service retailers. This plaza also benefits from its proximity to the Peace River Packing Company, Lewis Elementary School, Komatsu Mining Corp and the Valmont Utility plant. Priced well below replacement cost, the subject property is situated between the major cities of Tampa Bay and Orlando with frontage on US Highway 17. With exposure to approximately 18,000 vehicles per day, the subject property is well positioned within a qualified opportunity zone. Recent renovations to the site include a full-roof replacement, new HVAC units and recent improvements to the façade for the new co-tenant.

Investment Highlights

  • High Performing Grocery Anchor With A Fresh 10-Year NNN Lease Commencing At The Close Of Escrow
  • High Traffic Location- Frontage on US-17 with 18,000 AADT 
  • Opportunity For Future Development Of Outparcel Parcel
  • Priced Well Below Replacement Cost
  • Located In An Opportunity Zone
  • Annual Rent Increases
  • Income Tax Free State
  • Lakeland MSA

Exclusively Listed By

Financing By

Shopping Strip

Fresh Choice Market Plaza | Opportunity Zone | Income Tax Free State

Listing Price: $1,800,000

Cap Rate
7.82%
Rentable SF
26,080
Lot Size
1.93 acres
Year Built
1971

Investment Highlights

  • High Performing Grocery Anchor With A Fresh 10-Year NNN Lease Commencing At The Close Of Escrow
  • High Traffic Location- Frontage on US-17 with 18,000 AADT 
  • Opportunity For Future Development Of Outparcel Parcel
  • Priced Well Below Replacement Cost
  • Located In An Opportunity Zone
  • Annual Rent Increases
  • Income Tax Free State
  • Lakeland MSA

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Fresh Choice Market Plaza located at 201 S Charleston Ave, in Fort Meade, Florida. The site consists of 26,080 total square feet of building space and sits on 1.93 acres of land. The site will be subject to a 10-year sale-leaseback with Fresh Choice Market. Starting in year one, the total base rent shall be $161,652. The lease will call for 2.0% annual rental escalations during the base term for the grocer and throughout the three, five-year renewal option periods (25-year total term). Given it's unique nature, Fresh Choice Market Plaza also features a co-tenant, Scaling Made Simple Manufacturing. Scaling Made Simple Manufacturing will feature 3.0% annual rental escalations throughout their lease. The subject property benefits from being located in a dense residential corridor surrounded by limited competition, educational facilities and manufacturing plants. Located on South Charleston Avenue, the subject property is surrounded with the following major tenants in the immediate area; Dollar General, Dollar Tree, Burger King, Sunoco Gas Station, Circle K , McDonald's as well as other service retailers. This plaza also benefits from its proximity to the Peace River Packing Company, Lewis Elementary School, Komatsu Mining Corp and the Valmont Utility plant. Priced well below replacement cost, the subject property is situated between the major cities of Tampa Bay and Orlando with frontage on US Highway 17. With exposure to approximately 18,000 vehicles per day, the subject property is well positioned within a qualified opportunity zone. Recent renovations to the site include a full-roof replacement, new HVAC units and recent improvements to the façade for the new co-tenant.

Exclusively Listed By

Financing By

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