Chiarelli Plaza Offering Retail Strip Center Opportunity Memorandum 1315 Homestead Rd N • Lehigh Acres, Fl 33936
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CHIARELLI PLAZA OFFERING RETAIL STRIP CENTER OPPORTUNITY MEMORANDUM 1315 HOMESTEAD RD N • LEHIGH ACRES, FL 33936 CONTACT INFORMATION DOUG OLSON BRENT WESTERFIELD DARREN MOORE trinitycre.com 9250 Corkscrew Rd • Suite 13 • Estero, FL 33928 Principal | Managing Director Advisor Advisor © 2019 Trinity Commercial Group 239.334.3040 239.334.3040 239.334.3040 This information is considered accurate, but not guaranteed. [email protected] [email protected] [email protected] EXECUTIVE SUMMARY CHIARELLI PLAZA Trinity Commercial Group, LLC. Is pleased to present the sale of a 8,164± square foot retail shopping center located in Naples, FL. The subject is located along Homestead Rd N in Lehigh Acres, FL The property is located across the street from Homestead Shopping Plaza, a 90,051 square foot Publix anchored shopping center. The center also sits approximately one half of a mile north of Bealls Plaza, a 74,472 square foot Save A Lot and Bealls Outlet anchored shopping center. 1315 HOMESTEAD RD N. ADDRESS 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 $938,860 PROPERTY OVERVIEW PROPERTY SOUTHWEST, FLORIDA LEHIGH ACRES, FLORIDA 26,500± VPD HOMESTEAD RD N 7,300± VPD 7,300± BETH STACEY BLVD STACEY BETH 26,500± VPD HOMESTEAD RD N 7,300± VPD 7,300± BETH STACEY BLVD STACEY BETH MARKET OVERVIEW CHIARELLI PLAZA 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 SOUTHWEST 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 FLORIDA 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. 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, CITY OF 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 Lehigh Acres was developed in the mid-1950s by Chicago businessman Lee Ratner. Seeking a tax shelter, Ratner had sold his ACRES 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. SUMMARY PROFILE 2000-2010 Census, 2019 Estimates with 2024 Projections Calculated using Weighted Block Centroid from Block Groups Lat/Lon: 26.6091/-81.6532 1315 Homestead Rd N 1 mi radius 3 mi radius 5 mi radius Lehigh Acres, FL 33936 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% POPULATION Historical Annual Growth 2000 to 2019 - 2.1% 6.0% 9.4% 2019 Median Age 44.9 39.1 36.9 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% HOUSEHOLDS Historical Annual Growth 2000 to 2019 - 1.4% 5.0% 7.8% 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% - 10.6% 11.6% 11.9% RACE AND RACE ETHNICITY 2019 Estimated Other Races 2019 Estimated Hispanic - 36.0% 36.8% 36.3% 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 INCOME 2019 Estimated Per Capita Income $0 T $20,629 $19,475 $19,144 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% (AGE 25+) EDUCATION 2019 Estimated Bachelors Degree Only - 9.1% 10.4% 10.2% 2019 Estimated Graduate Degree - 5.2% 3.7% 4.2% 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 LEHIGH ACRES, BUSINESS 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 PRESENTED BY: DOUG OLSON BRENT WESTERFIELD DARREN MOORE Principal | Managing Director Advisor Advisor 239.334.3040 239.334.3040 239.334.3040 SOUTHWEST FL OFFICE [email protected] [email protected] [email protected] 9250 Corkscrew Rd Suite #13 © 2019 Trinity Commercial Group Estero, FL 33928 This 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 P: 239.334.3040 for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer.