Royal Crown Plaza

Shopping Center for Sale
Also listed as Vacant Land, Office
Catylist Listing ID: 29948668
Property Subtypes: Community Center, Mixed Use, Neighborhood Center, Net Leased, Strip Center
Building Size (RSF): 13,226 SF
Gross Land Area: 57,500 SF
Sale Price: $3,300,000
Unit Price: $249.51 PSF
Ceiling: 9 ft.
Property Use Type: Net Leased Investment (NNN)
Building Name: Crown Royal Plaza
Usable Size (USF): 11,900 SF
Core Factor: 1.11%
Sale Terms: Cash to Seller
Cap Rate: 4.0%
Last Updated: 7/24/2017

Overview / Comments

This property offers exception opportunities for a savvy investor.
With 250 ft. of frontage on US 41, 279 ft. of depth, and 164 ft. of fronting on Franklin. The fact that the property goes through the block means the property not only has South Bound 41 access but also allows easy North Bound access from either the O'Donnell or the Stratford intersections. An ideal location for a hotel, restaurant or expanded shopping center provides the opportunity for double digit returns on your investment.
Once Fuccillo opens the traffic should easily increase from the 50,000 cars daily to well over 60,000.
The property backs up to the proposed Murdock village project as well, providing even more opportunity for the new owner.

Financials

Finance Data Year 2015
Real Estate Taxes - Annual($) $12,103 (Annual)
Assessed Value - Total($) $534,967 (Annual)
Potential Rental Income $216,000 (Annual)
Net Operating Income $115,977 (Annual)
Gross Operating Income $144,440 (Annual)
Actual or Proforma Year Actual
Lender Name N/A

Current Tenants

Tenant Business Name Anderson & davis Real rstate
Industry Type Real Estate and Rental and Leasing
Is Renting? Yes
Suite Number 1
SF of Space Occupied 1,000 SF
Current Rent $14,400 PSF (Annual)
Lease Expiration 7/0031
Tenant Notes Rent = base rent $1005.41 and 8.3% share of Real Property Tax
Tenant Business Name Javi's Barber Shop
Industry Type Other Services
Is Renting? Yes
Suite Number 2
SF of Space Occupied 1,000 SF
Current Rent $13,200 PSF (Annual)
Lease Expiration 4/0030
Tenant Notes Base Rent $911.95 per month plus 8.3% of Real Property Tax
Tenant Business Name Smokey Phantom Hookah Lounge
Industry Type Retail Trade
Is Renting? Yes
Suite Number 3
SF of Space Occupied 1,000 SF
Current Rent $13,200 PSF (Annual)
Lease Expiration 7/0031
Tenant Notes Base rent $911.95 plus 8.3% of Real Property Tax
Tenant Business Name My Nail Salon
Industry Type Other Services
Is Renting? Yes
Suite Number 4
Current Rent $13,200 PSF (Annual)
Lease Expiration 5/0031
Options Base rent $911.95 plus 8.3% of Real Property Tax
Tenant Business Name Finly Insurance Co.
Industry Type Finance and Insurance
Is Renting? Yes
Suite Number 5
SF of Space Occupied 1,000 SF
Current Rent $12,600 PSF (Annual)
Lease Expiration 4/0030
Tenant Notes Base rent $865.22 plus 8.3% of Real Property Tax
Tenant Business Name Salty Dog designs Inc.
Industry Type Retail Trade
Is Renting? Yes
Suite Number 6
SF of Space Occupied 1,000 SF
Current Rent $13,200 PSF (Annual)
Lease Expiration 4/0030
Tenant Notes Base rent $911.95 plus 8.3% of Real Property Tax
Tenant Business Name Paw Bright Pet Salon
Industry Type Retail Trade
Is Renting? Yes
Suite Number 7
SF of Space Occupied 1,000 SF
Current Rent $14,400 PSF (Annual)
Lease Expiration 10/2016
Tenant Notes Base rent $1005.41 plus 8.3% of Real Property Tax
Tenant Business Name Druthers Emporium
Is Renting? Yes
Suite Number 8
SF of Space Occupied 1,000 SF
Current Rent $13,200 PSF (Annual)
Lease Expiration 1/2017
Tenant Notes Base rent $911.95 plus 8.3% of Real Property Tax
Tenant Business Name Banquet Hall
Industry Type Accommodation and Food Services
Suite Number 9 & 10
SF of Space Occupied 2,000 SF
Current Rent $30,000 PSF (Annual)
Lease Expiration 10/0016
Tenant Notes Base rent $2104.27 plus 16.6% of Real Property Tax
Tenant Business Name RSRM Inc.
Industry Type Real Estate and Rental and Leasing
Suite Number 200
SF of Space Occupied 2,000 SF
Current Rent $20,000 PSF (Annual)
Tenant Notes This is currently used as landlords office.

Additional Details

Nearest MSA: Punta Gorda
County: Charlotte
Taxing Authority: Charlotte County
Tax ID/APN: 402111201011 & 012
Zoning: CG,CG
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Other
Property Located Between: Toledo Blade Blvd. & Chamberlain Blvd.
Property Visibility: Excellent
Largest Nearby Street: Toledo Blade
Feet of Frontage: 250
Traffic/Vehicle Count: 50,000
Highway Access: Interstate 75 five minutes east
Airports: Punta Gorda Airport 20 minutes south, Sarasota airport 20 minutes North.
Site Description: 250 feet of direct access frontage on US 41, clear visibility from both North and South bound lanes. The property goes through the block (279 ft deep) and has 164 ft. of frontage Franklin as well. This means that the North bound lanes can access and egress the property via either the O'Donnell or Stratford intersections. Located just 1 mile south of the new Mega KIA dealership. Once Fuccillo opens both the KIA dealer and the related businesses on his 80 acres the surrounding are is sure to develop as a major regional shopping and recreation destination.
Area Description: 134,000 people; 58,000 Households; $56,315 Average Income; 50,000 Cars daily. On busy US 41 just north of Toledo Blade Blvd. The already busy Murdock Circle shopping area is sure to expand North to your door bringing even more people to your door.
Total Number of Buildings: 1
Number of Stories: 15
Typical SF / Floor: 9,000 SF
Property Condition: Excellent
Year Built: 1989
Year Renovated: 2000
Roof Type: Flat
Construction/Siding: Block
Parking Ratio: 5.1 (per 1000 SF)
Parking Type: Surface
Parking Description: Currently 60 Spaces provide ample parking. Two thirds of the property is unused/undeveloped providing almost limitless possibilities.
Total Parking Spaces: 60
Sprinklers: Other
Heat Type: Electricity
Heat Source: Other
Air Conditioning: Other
Internet Access: Other
Interior Description: Clean & well maintained
Zoning Description: CG Intent. The purpose and intent of this district is to allow general commercial activity. (b) Permitted uses (P) and structures: (1) Animal hospital, boarding facility. (2) Art, dance, music, photo studio or gallery. (3) Assisted living facility or day care center, adult, six (6) or less. (See section 3-9-62, assisted living facility.) (4) Auditorium, convention center, performing arts center. (5) Bank, financial services. (6) Bar, cocktail lounge, nightclub, tavern. (7) Business services. (8) Clubhouse, community center. (9) Day care center, child. (10) Drug store, pharmacy. (11) Dry cleaner. (12) Elementary, middle, or high school. (13) Emergency services. (14) Essential services. (See section 3-9-71, essential services.) (15) Funeral homes, crematoria. (16) Gas station. (17) General offices. (18) General retail sales and services. (See section 3-9-61, accessory outdoor retail sales, display, and storage. (19) Government uses and facilities. (20) Homeless shelter. (21) Hospital. (22) Hotel, motel, inn. (23) Laundromat. (24) Liquor, package store. (25) Mass transit station. (26) Medical or dental office, clinic. (27) Mini-warehouses or storage facilities, but not bulk storage of flammable liquids. (28) Model home. (See section 3-9-78, model homes.) (29) Motor vehicle wash. (30) Nursing home. (31) Paid or public parking lot, garage, structure. (32) Park, public or not-for-profit. (33) Personal services. (34) Place of worship. (See section 3-9-82, places of worship.) (35) Post office. (36) Printing facilities. (37) Private club. (38) Professional services. (39) Recreation, indoor. (40) Recreation, outdoor. (41) Restaurant.
Lot Frontage: 250
Lot Depth: 164
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned
Legal Description: PORT CHARLOTTE SEC 35 BLK 1271 LTS 21 22 23 24 167/622 811/1435 & 1437 989/2057 RE991/1694 1774/327 RES1931/1278 PCH 035 1271 0009 PORT CHARLOTTE SEC 35 BLK 1271 LT 9 397/719 902/231 989-2056 RE991-1693 RE991/1690 1774/327 PCH 035 1271 0010 PORT CHARLOTTE SEC 35 BLK 1271 LT 10 465/559 737/31 UNREC DEED 1200/1575

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 807 31,345 91,158
Median Age: 44.09 46.83 46.46
Households: 301 12,978 38,253

Source

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