$77.5 Million Non-Performing Office Loan
US - Washington, DC
MYR 342,434,000 | 28,508 m²
Office
Under Contract
floridacentral Credit Union - Port Charlotte, FL
1600 Tamiami Trl, Port Charlotte, FL, 33948-1104, US
Gallery
Asset Description
floridacentral Credit Union is located 0.5 miles from the intersection of Veterans Boulevard and Tamiami Trail (US 41), the center of the dense Port Charlotte Town Center retail node.
Attributes
Asking Price
MYR 16,517,000
Building area Gross
19,492 m²
Year built
2000
Cap Rate
5.35%
NOI
MYR 884,000
Investment Highlights
- Florida financial services tenant with $569 million in chain deposits
- 7-year lease with increases and zero short-term landlord obligations
- Unique upside from soon-to-be vacant 2nd floor space
- Excellent frontage along Tamiami Trail (54,000 VPD)
- Dense commercial trade area that is geographically constricted
- 94,000 residents in 5 miles with avg HH income over $70,000
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Last updated
30 Nov 2022