For Sale
Call for price

900 Marion AvePunta Gorda, FL 33950

40,861 SF, 4-acre lot, high upside.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional mixed-use investment opportunity in Punta Gorda, Florida, presents a compelling value-add proposition. The property comprises three buildings totaling 40,861 square feet of net rentable space, situated on a sizable 4.04-acre lot. Currently, the property is 49.7% occupied, with the Military Heritage Museum leasing one building significantly below market rent, holding two five-year options to renew at fair market value. The current submarket rent is $23.20 per square foot (per Costar). This presents a significant opportunity to increase revenue through lease-up and rent adjustments. The property boasts beautiful panoramic views of Charlotte Harbor and is conveniently located within walking distance of upscale restaurants and shops. Its strategic location borders four roads: W. Retta Esplanade, Shreve Street, W. Marion Ave, and Pittman Street. Furthermore, it benefits from excellent accessibility, less than a mile from Tamiami Trail (US 41) with 28,000 vehicles daily, three miles from Interstate 75, and four miles from Punta Gorda Airport. The surrounding area exhibits strong demographics, with a five-mile population of 60,000 and a one-mile average household income of $109,000. The property also includes an on-site security guard house and offers potential for future redevelopment, given its location within a neighborhood residential district that allows for residential development. The property's address is 900 W Marion Ave, Punta Gorda, FL 33950, with APN 41-22-12-204-001. The property is offered fee simple. Built in 1994, this property represents a rare chance to acquire a substantial mixed-use asset with significant upside potential in a thriving Florida market.

Highlights

  • Three buildings totaling 40,861 square feet on a 4.04-acre parcel, including a security guard house.
  • Owner-user opportunity; one building occupied by a military museum at below-market rent with two five-year options at market rate.
  • Significant value-add potential through lease-up and rent increases; current submarket rent is $23.20/SF.
  • Panoramic Charlotte Harbor views; walkable to upscale dining and shopping.
  • Future redevelopment potential for residential use.
  • Frontage on four roads: W. Retta Esplanade, Shreve St, W. Marion Ave, and Pittman St.

Property Details for 900 Marion Ave

Property type
Retail properties, Mixed-use properties
Year Built
1994
Buildings
3
Lot Size (sq. ft)
175,982 SF

Location Insight

City
Punta Gorda
County
Charlotte
State
Florida
Latitude
26.928913021999
Longitude
-82.05905451547
900 Marion Ave, Punta Gorda, Florida

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900 Marion Ave
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