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CHIARELLI PLAZARETAIL STRIP CENTER OPPORTUNITY1315 HOMESTEAD RD N • LEHIGH ACRES, FL 33936
trinitycre.com9250 Corkscrew Rd • Suite 13 • Estero, FL 33928
© 2019 Trinity Commercial GroupThis information is considered accurate, but not guaranteed.
CONTACT INFORMATION
DOUG OLSONPrincipal | Managing [email protected]
BRENT [email protected]
DARREN [email protected]
OFFERING MEMORANDUM
EXECUTIVE SUMMARYCHIARELLI PLAZA
PROP
ERTY
OVE
RVIE
W ADDRESS 1315 HOMESTEAD RD N. LEHIGH ACRES, FL 33936
BUILDING 8,164 SF
ACREAGE 0.67 AC
PARKING 28 SPACES
YEAR BUILT 1986
ZONING C-2
TRAFFIC COUNTS HOMESTEAD RD - 26,500 VPD
OCCUPANCY 100%
OFFERING PRICE $115/SF ($938,860)
PROPERTY:Trinity Commercial Group, LLC. Is pleased to present the sale of a
8,164± square foot retail shopping center located in Lehigh Acres, FL.
LOCATION:The subject is centrally located along Homestead Rd N in the heart of
Lehigh Acres, FL. The site has full directional access. The property is
across the street from Homestead Shopping Plaza, a 90,051 sf Publix
anchored center and just North of Beall’s Plaza, a 74,472 sf center
anchored by Sav a Lot, Ace Hardware and Beall’s Outlet.
STRONG UPSIDE:This property represents a significant built in NOI growth opportunity
via both mark to market rent as well as conversions to triple net leases.
Most of the leases are currently gross leases, rolling in the next 9-24
months. The current average net rent is only $8.22 psf against market
rates of $12-$14 psf NNN.
RECENT CAPITAL IMPROVEMENTS:• Roof - New Metal Roof Nov 2016
• Roof - Replaced all Soffit with vinyl for added durability Oct 2017
• Exterior Building Maintenance – Entire Shopping Center was
repainted and all doors and windows were resealed Mar 2017
• Monument Sign – Upgraded sign lighting system Apr 2017
• HVAC – Units A, B, D, and F – New HVAC Units as of – 2015
• HVAC – Units G and H – New HVAC Units as of – 2016
• HVAC – Unit E – Unit will be repaired or replaced within the next
30 days
SOUTHWEST, FLORIDA
LEHIGH ACRES,FLORIDA
HOMESTEAD RD N
26,500± VPD
BETH
STA
CEY
BLVD
7,3
00±
VPD
HOMESTEAD RD N
26,500± VPD
BETH
STA
CEY
BLVD
7,3
00±
VPD
UNIT A UNIT B UNIT C UNIT D UNIT E UNIT F UNIT G UNIT H
UNIT A & B SPRINT 2,000± SF
UNIT C ARTEMISA BARBERSHOP 1,000± SF
UNIT D ORBITAL WATER 1,000± SF
UNIT E & F KINDERDANCE 2,000± SF
UNIT G MPIRE REAL ESTATE 1,000± SF
UNIT H MPIRE TATTOO 1,000± SF
Definitions of Southwest Florida vary, though its boundaries are generally considered to put it south of the Tampa Bay area, west of Lake Okeechobee, and mostly north of the Everglades and to include Manatee, Sarasota, Charlotte, Lee, and Collier counties. For some purposes, the inland counties of DeSoto, Glades, and Hendry, and the thinly populated mainland section Monroe County, south of Collier, are also included. The region includes four metropolitan areas: the North Port-Bradenton-Sarasota MSA (sometimes alternately considered a part of the Tampa Bay Area to the north), the Cape Coral-Fort Myers MSA, the Naples-Marco Island MSA, and the Punta Gorda MSA. Southwest Florida is one of the fastest-growing areas in the nation, according to the U.S. Census Bureau’s most recent population estimates.
Lee and Collier counties ranked in the top 10 of the nation’s fastest-growing metro areas based on population increases from July 2013 to July 2014. Census figures released today show Lee County added 18,177 people during that span, an increase of 2.7 percent, the sixth-largest increase in the country. Collier ranked No. 10 with an increase of 2.5 percent, adding an estimated 8,671 residents. The Census Bureau estimated Lee’s population at 679,513 as of last July and 348,777 for Collier. If both counties grow at their same rates through July 2015 that would put Lee’s population at an estimated 697,860 and Collier’s at 357,496.
Southwest Florida was largely ignored by commercial developers until the late 1800s, and as such, lacks much of the heavier development present in other parts of Florida, such as that found in the central or southern regions of the state. In recent years however, there has been a major real estate boom focusing on downtown Fort Myers (high-rise residential condominiums); southern Lee County (commercial development and high-technology); eastern Collier County (residential development); and eastern parts of Bradenton.
Southwest Florida International Airport, located in South Fort Myers, served over 7.9 million passengers in 2014 and offers non-stop flights to 3 cities in Europe and 2 in Canada, in addition to 36 domestic airports. The area’s secondary airport, Sarasota-Bradenton International Airport, served 2.9 million passengers in 2014. Southwest Florida is served by several major highways, including the Tamiami Trail (U.S. 41) and the Interstate 75 freeway, both of which connect the area to Tampa to the north, and Greater Miami–Ft. Lauderdale to the east. Tourism is a major economic driver in the area. In addition, many seasonal residents live in the area during the winter months, as temperatures in south Florida stay very moderate during that time of year.
SOUTHWESTFLORIDA
MARKET OVERVIEWCHIARELLI PLAZA
Lehigh Acres is a diverse community of approximately 80,000 residents. Just 12 miles east of Fort Myers, Lehigh Acres boasts ponds, lakes and canals. With 175 miles of canals and 16 well-stocked lakes, It is a perfect destination for both fishing enthusiasts and beginners alike. For a change of pace, the Gulf of Mexico and its nearby barrier islands provide spectacular saltwater fishing opportunities, with bountiful grouper, mackerel, redfish, snapper, snook and trout. For a challenge on the green, visit one of Lehigh Acres’ four championship golf courses. With parks, lakes, tennis, and safe roads for bicycling or walking, this charming suburban enclave is the ideal retreat for families or seniors seeking an affordable and laid-back vacation.
Lehigh Acres is a census-designated place (CDP) in Lee County, Florida, United States. The US Census Bureau of 2010 had the CDP’s population at 86,784. Lehigh Acres is a part of the Cape Coral-Fort Myers, Florida Metropolitan Statistical Area.
Lehigh Acres was developed in the mid-1950s by Chicago businessman Lee Ratner. Seeking a tax shelter, Ratner had sold his pest control business and faced the possibility of losing most of his earnings to the high capital gains tax of that era. Ratner heard that cattle was a good investment for people in his predicament, and he bought 18,000 acres of land in eastern Lee County and named it the Lucky Lee Ranch. After ranching for a while, and despite having no prior development experience, Ratner joined with Gerald H. Gould, a Florida advertising executive, Manuel Riskin, a Chicago CPA, and Edward Shapiro, a former Chicagoan who was in the real estate business in California, and began land sales at Lehigh Acres.
CITY OF LEHIGH ACRES
SUMMARY PROFILE2000-2010 Census, 2019 Estimates with 2024 ProjectionsCalculated using Weighted Block Centroid from Block Groups
Lat/Lon: 26.6091/-81.6532
1315 Homestead Rd N1 mi radius 3 mi radius 5 mi radius
Lehigh Acres, FL 33936
PO
PU
LATI
ON
2019 Estimated Population 0 T 6,845 43,735 87,087
2024 Projected Population 0 T 7,826 49,976 100,191
2010 Census Population 0 T 5,681 35,846 71,549
2000 Census Population 0 T 4,907 20,407 31,191
Projected Annual Growth 2019 to 2024 - 2.9% 2.9% 3.0%
Historical Annual Growth 2000 to 2019 - 2.1% 6.0% 9.4%
2019 Median Age 44.9 39.1 36.9
HO
US
EH
OLD
S
2019 Estimated Households 0 T 2,843 15,690 29,801
2024 Projected Households 0 T 3,091 17,062 32,628
2010 Census Households 0 T 2,355 12,904 24,556
2000 Census Households 0 T 2,236 8,048 11,972
Projected Annual Growth 2019 to 2024 - 1.7% 1.7% 1.9%
Historical Annual Growth 2000 to 2019 - 1.4% 5.0% 7.8%
RA
CE
AN
D
ETH
NIC
ITY
2019 Estimated White - 74.1% 68.9% 66.2%
2019 Estimated Black or African American - 12.8% 17.4% 19.6%
2019 Estimated Asian or Pacific Islander - 2.2% 1.7% 1.8%
2019 Estimated American Indian or Native Alaskan - 0.4% 0.4% 0.4%
2019 Estimated Other Races - 10.6% 11.6% 11.9%
2019 Estimated Hispanic - 36.0% 36.8% 36.3%IN
CO
ME 2019 Estimated Average Household Income $0 T $49,545 $54,227 $55,901
2019 Estimated Median Household Income $0 T $44,357 $49,976 $50,830
2019 Estimated Per Capita Income $0 T $20,629 $19,475 $19,144
ED
UC
ATI
ON
(AG
E 2
5+)
2019 Estimated Elementary (Grade Level 0 to 8) - 8.3% 8.5% 8.4%
2019 Estimated Some High School (Grade Level 9 to 11) - 14.7% 12.0% 11.7%
2019 Estimated High School Graduate - 32.8% 37.2% 37.0%
2019 Estimated Some College - 21.1% 19.7% 19.3%
2019 Estimated Associates Degree Only - 8.7% 8.5% 9.1%
2019 Estimated Bachelors Degree Only - 9.1% 10.4% 10.2%
2019 Estimated Graduate Degree - 5.2% 3.7% 4.2%
BU
SIN
ES
S 2019 Estimated Total Businesses 0 T 599 1,086 1,578
2019 Estimated Total Employees 0 T 4,489 7,263 9,786
2019 Estimated Employee Population per Business - 7.5 6.7 6.2
2019 Estimated Residential Population per Business - 11.4 40.3 55.2
©2019, Sites USA, Chandler, Arizona, 480-491-1112 page 1 of 1 Demographic Source: Applied Geographic Solutions 4/2019, TIGER Geography
L E H I G H A C R E S ,
© 2019 Trinity Commercial GroupThis information is considered accurate, but not guaranteed. TCG has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than TCG and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income,expenses, and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information herein is subject to change.
PRESENTED BY:
SOUTHWEST FL OFFICE9250 Corkscrew Rd Suite #13Estero, FL 33928
P: 239.334.3040
DOUG OLSONPrincipal | Managing [email protected]
BRENT [email protected]
DARREN [email protected]