5502 Cortez RdBradenton, FL 34210

Property Details for 5502 Cortez Rd

Year built

1983

Lot size

15.42 AC

Property size (Sq ft)

122,434 SF

Zone code

BR_SCC

Property type

Retail properties

Property subtype

Community centers

APN

51111.2015-9

APU

5111120159

Description

Cortez Commons, a two-building retail center in Bradenton, Florida, presents a compelling investment opportunity. Located at 5502 Cortez Rd W, this property boasts a prime location at the corner of 59th Street and Cortez Road West, experiencing high traffic volume with a combined 45,800 cars daily. The center offers multiple tenancy options, with a total of 15,900 square feet currently vacant, divisible into spaces ranging from 800 to 8,500 square feet. Five spaces are immediately available, ideal for a variety of retail or restaurant uses. The property underwent renovations in 2022, ensuring modern and attractive spaces for tenants. Its strategic location benefits from significant residential growth potential, with over 10,000 new homes planned within a two-mile radius. Furthermore, Cortez Commons enjoys high visibility across the street from the highest-volume Walmart Supercenter in Southwest Florida, guaranteeing substantial foot traffic and brand recognition. This exceptional location, combined with the available space and recent renovations, makes Cortez Commons an attractive proposition for businesses seeking a thriving retail environment in a rapidly expanding market. The property's address is 5502 Cortez Rd W, Bradenton, FL 34210.

• CAP approach

  CAP return

  Valuation

  6%

  $42,620,576

  6.5%

  $39,342,068

  7%

  $36,531,920

• Comparable approach

  Method

  Valuation

  Relative Method

  $57,927,964

  Geo Method

  $56,347,504

• Alternative Use

  Use

  Valuation

  Residential

  $33,186,508

  Hospitality

  $30,398,662

  Educational

  $25,291,330

  Medical

  $26,161,138

  Retail

  $39,342,068

Location Insight

City

Bradenton

County

Manatee

State

Florida

Latitude

27.4637

Longitude

-82.618

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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