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Margate Shopping Center 2922 N State Road 7 20,714 sq ft Vacant Retail Property Margate, FL 33063 £5,406,413 (£261.00/sq ft) 2.84% Net Initial Yield
Investment Highlights
- Located Directly on State Rd 7 / 441
- 8.5% Pro-forma CAP Rate
- 49.31% Occupied
- Perfect for an Investor or Owner-User!
Executive Summary
This prime investment property spans 20,714 SF on a 1.32-acre lot and includes 65 parking spaces. The shopping center features a total of 12 units, currently 49.31% occupied by four tenants. There is approximately 10,500 SF available, presenting an excellent opportunity for an owner-user or additional lease-up potential.
This is an exceptional investment opportunity in a prime location. For further details, please refer to the enclosed offering memorandum. Please do not disturb the tenants.
This is an exceptional investment opportunity in a prime location. For further details, please refer to the enclosed offering memorandum. Please do not disturb the tenants.
Property Facts
Sale Type
Investment or Owner Occupier
Property Type
Retail
Property Subtype
Shopfront Retail / Office
Property Size
20,714 sq ft
Costar Property Class
C
Year Built
1972
Price
£5,406,413
Price per sq ft
£261.00
Yield
2.84%
NOI
£153,488
Occupancy Rate
Vacant
Tenancy
Multiple
Number of Floors
1
Plot ratio
0.36
Total Plot Size
1.32 ac
Use Class
TOC-C - TRANSIT-ORIENTED CORRIDOR-CORRIDOR
Parking
42 Spaces (2.03 Spaces per 1,000 sq ft Leased)
Amenities
- Dedicated Turn Lane
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 2916-2920
- 5,500 sq ft
- Retail
- -
- Now
- 2924-2934
- 10,000 sq ft
- Retail
- In-Line
- Now
- 2928
- 1,500 sq ft
- Retail
- In-Line
- Now
| Space | Size | Space Use | Position | Available |
| 2916-2920 | 5,500 sq ft | Retail | - | Now |
| 2924-2934 | 10,000 sq ft | Retail | In-Line | Now |
| 2928 | 1,500 sq ft | Retail | In-Line | Now |
2916-2920
| Size |
| 5,500 sq ft |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
2924-2934
| Size |
| 10,000 sq ft |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
2928
| Size |
| 1,500 sq ft |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
Moderately walkable
60/100
Exceptionally car friendly
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 48-42-19-02-0010 | Improvements Assessment | £2,051,208 |
| Land Assessment | £643,236 | Total Assessment | £2,694,444 |
Property Taxes
Parcel Number
48-42-19-02-0010
Land Assessment
£643,236
Improvements Assessment
£2,051,208
Total Assessment
£2,694,444
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Margate Shopping Center | 2922 N State Road 7
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