Development opportunity corner of Hwy 776 & Tampa Bay Rays Stadium

Vacant Land for Sale
Catylist Listing ID: 30832217
Property Subtypes: Retail, Other
Gross Land Area: 5 Acres
Sale Price: $3,980,000
Unit Price: $796,000 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/19/2023

Overview / Comments

This 5 Acre development site is located within Charlotte County Florida’s commercial general development district. Located at the corner of Hwy 776 and the Charlotte Sports Park - Spring Training Home of the Tampa Bay Rays and directly across from the Charlotte County Fairgrounds plus the community of West Port. West Port offers approximately 2,000 single family and multifamily dwellings in several distinct open and gated villages offering a variety of housing types for a multi-generational community. The master plan includes commercial areas along Hwy 776/El JoBean Road envisioned to feature retail, restaurant, and possible hotel uses. Recently an additional 150 acres was approved for a master plan development also. The property is located near Port Charlotte Town Center encompassing over 1 million SF of retail space. The 5-mile 2020 population is 70,884 and households are 35,517. The growth rate within that 5 mile ring is expected to exceed 10%. The county would approve a commercial retail development and could consider of?ce as well.

2392 El JoBean Rd/Hwy 776 is approximately 5 acres with 4 acres useable and is primed for development with flat topography and all utilities to the site.
Zoning permits for many uses of commercial general and the county has expressed interest in family-oriented developments as restaurants, hotel, and children's centers.
Opportunity to capitalize on demand only 5 properties proposed or under construction and occupancy rates above 97% within 5 miles.
Hold a prized position along Hwy 776 at the entrance to the Tampa Bay Rays Stadium, plus 600 feet of frontage on Hwy 776 with combined traffic counts over 40,000 VPD. Hwy 776 is the exclusive route to the Gulf beaches.
Vast and affluent network of customers with an average household income of $86,172 and $1.4B in annual consumer spending within five miles.
The fabric of this neighborhood is an equal combination of Senior Escape's avg age 54 and Middleburg's avg age 36 within five miles. The population growth is high with over 400 new jobs coming to Charlotte County in 2023.

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Additional Details

Nearest MSA: Punta Gorda
County: Charlotte
Tax ID/APN: 402114100006
Legal Description: 14 40 21 P-2-1 5.10 AC. M/L COMM NW1/4 COR LT 1 BLK 3318 TH SW 204.36 FT SE 10 FT SW 878.69 FT FOR POB SW 600 FT SE ALG A PORTION OF E/LY RW LINE OF PROPOSED EXT OF EDGEWATER DR 370 FT NE 600 FT NW 370 FT TO POB 834/1171 834/1176-78 1017/235 1137/131 FJ1236/1342 1621/545 1623/1226-MERGER 2376/145
Feet of Frontage: 600
Traffic/Vehicle Count: 315,000
Site Description: Located in Port Charlotte Florida at the corner of Hwy 776 and the entrance to the Charlotte Sports Park - Spring Training Home of the Tampa Bay Rays.
Area Description: This area features excellent public amenities within walking distance including Twisted Fork which is an automotive, motorcycle, steampunk, retro-vibe restaurant that is one-of-a-kind, Harley Davidson Amphitheatre, Centennial Park, Centennial Park Recreation and Aquatic Center, Charlotte County Fairgrounds and the Charlotte Sports Park - Spring Training Home of the Tampa Bay Rays.
Lot Frontage: 600.0
Lot Depth: 360.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,311 15,935 83,732
Median Age: 46.77 51.8 47.31
Households: 490 7,025 35,625
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