Santa Barbara Plaza

Shopping Center for Sale
Catylist Listing ID: 30326951
Property Subtypes: Strip Center
Building Size (RSF): 21,000 SF
Gross Building Area: See Agent
Sale Price: $2,980,000
Unit Price: $141.90 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/21/2018

Overview / Comments

The subject property is a bustling turnkey strip-center, consisting of 17 units in two separate buildings with a total of 21,000 s.f. 1031 Santa Barbara is a 7,000 s.f. building with seven (7) 1,000 s.f., units; and 1025 Santa Barbara is a 14,000 s.f. building with ten (10) 1,400 s.f. units. It also includes 2 additional commercial lots, with a pending permit to construct 45 additional pkg spaces, and potentially more rental space.

Santa Barbara Blvd Traffic Count: 22,000 AADT, Nicholas Pkwy: 11,100 AADT.
The building has a solid mix of new and established tenants, including D.R. Horton, the 10 Twenty Five Restaurant, Cape Ice Cream, H2 Fitness, Studio Elite Acro and Dance Academy, Experimac, Little Beginnings Ultrasound Studios, Flawless Barber, and the Micro Spa.

The buildings have absolutely no deferred maintenance. The roof was recently inspected and in good repair, the buildings are freshly painted, and most units have been recently remodeled.
This is a turnkey property in a great location!!

Attachments & Media

Additional Details

Nearest MSA: Cape Coral-Fort Myers
County: Lee
Taxing Authority: Cape Coral
Tax ID/APN: 24-44-23-C1-01026.0030; 24-44-23-C1-01027.0120; 24-44-23-C1-01027.0140
Retail Clientele: General
Largest Nearby Street: Santa Barbara Blvd.
Traffic/Vehicle Count: 22,000
Highway Access: 20 minutes to I-75
Site Description: Busy local intersection of Santa Barbara Blvd. and Nicholas Pkwy
Area Description: Located in Southwest Florida in the city of Cape Coral, which was ranked number 1 by Forbes magazine as the fastest growing cities of 2017! According to Forbes, the population grew almost four percent in 2016 and it is predicted to expand even more in the coming year. Cape Coral is situated just north of the Fort Myers/Naples area, and two hours south of Tampa, Florida.
Total Number of Buildings: 2
Property Condition: Excellent
Year Built: 2008
Roof Type: Flat
Construction/Siding: Stucco
Exterior Description: Stucco block with fresh paint. Great condition!
Parking Ratio: 3 (per 1000 SF)
Parking Type: Surface
Parking Description: Recently repaved and striped with fresh blacktop.
Total Parking Spaces: 62
Sprinklers: Wet
Heat Type: Electricity
Zoning Description: C-1
Water Service: Municipal
Sewer Type: Municipal

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