4427 53Rd AveBradenton, FL 34203

Property Details for 4427 53Rd Ave

Year built

1988

Lot size

1.03 AC

Property size (Sq ft)

3,202 SF

Zone code

GC

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

17621.0010-3

APU

1762100103

Description

This exceptional investment opportunity presents a fee-simple ownership of a 3,202 square foot, freestanding Cookies dispensary in Bradenton, Florida (Tampa MSA). The property boasts a brand-new 10-year lease (commencing May 28, 2024 and expiring May 31, 2034) with a strong corporate guarantee and two 5-year renewal options. The lease includes attractive 2% annual rent increases, ensuring consistent NOI growth and inflation protection. The Net Net Net (NNN) lease structure minimizes landlord responsibilities, making this an ideal low-management investment. Situated on a 1.02-acre lot with 9 parking spaces, the property benefits from a prime location at a signalized, hard-corner intersection, offering excellent visibility and accessibility. This high-traffic area is enhanced by its proximity to a Walmart-anchored shopping center and numerous national retailers, including Publix, Sam's Club, and CVS. The property's strong demographics are further supported by a 5-mile trade area encompassing over 171,000 residents and 72,000 employees, with an average household income exceeding $95,127 within a 1-mile radius. Built in 1988 and renovated in 2005, the property is zoned for general commercial use. The current Net Operating Income (NOI) is $249,900, representing a 7.70% cap rate on the asking price of $3,245,000 ($1,013.43 per square foot). This is a truly exceptional opportunity to acquire a high-performing, passively managed retail investment with significant long-term growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,279,906

  6.5%

  $1,181,452

  7%

  $1,097,062

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,589,906

  Geo Method

  $1,473,649

• Alternative Use

  Use

  Valuation

  Residential

  $996,599

  Hospitality

  $912,879

  Educational

  $759,505

  Medical

  $785,625

  Retail

  $1,181,452

Location Insight

City

Bradenton

County

Manatee

State

Florida

Latitude

27.4468

Longitude

-82.506

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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