-
1441 Tamiami Trail
Port Charlotte, FL 33948
Strong Store Sales ($16.25MM+)
Top 3 store in the chain
Early Extension in december 2016
(Exp. May 2027)
FOR SALE
$9,135,000
7.25% CAP RATE
6x5-year options
(w/ Rent escalations)
Anchor to Port Charlotte
Town Center with MAcy’s,
Dillards, JcPenney, Regal Cinemas
Strong Traffic Counts
(43,000 VPD)
-
TABLE OF CONTENTS
MARKET INFORMAT ION
Aerials
I NVESTMENT OVERV IEW
Investment Summary
Lease Highlights
Rent Schedule
Survey
Maps
Market Data
Demographics
Nick [email protected]
Site Plan
About Bealls
-
3
I NVESTMENT OVERV IEW
Store OverviewBealls is a 91,489 SF single-tenant retail store
located in Port Charlotte, FL. It is located along Tamiami Trail
(US 41), a main retail artery, that experiences traffi c counts
exceeding 43,000 vehicles per day. Bealls is one of 5 national
anchors to the Port Charlotte Town Center, the premier shopping and
dining center in Charlotte County drawing consumers form a 30-mile
radius. The Center is institutionally owned and anchored by Bealls,
Macy’s, Dillards, JC Penney and Regal Cinemas. Port Charlotte Town
Center is also located in proximity to Walmart Supercenter, Target,
Home Depot, Kohl’s, Aldi, and Best Buy.
Market OverviewBayfront Health, Publix Supermarkets and WalMart
are major employers in the area. The Spring training for Tampa Bay
Devil Rays takes place one mile away from the mall. Additionally,
two developments consisting of 1,000 homes are under development by
national home builders Del Webb and Centex just 5 miles from the
mall. Port Charlotte was named to Forbes’ list of “25 Best Places
to Retire.”
3 Miles 5 Miles 10 Miles
Total Population 33,538 86,969 190,043
Average HHI $55,832 $56,916 $60,328
ADDRESS: 1441 Tamiami Trail, Port Charlotte, FL
PRICE: $9,135,000
NOI: $662,047
CAP RATE: 7.25%
RENTABLE SF: 91,489 SF
COMMENCEMENT DATE: January 18, 2002
EXPIRATION DATE: May 31, 2027
STORE SALES: $16.25MM+ (Top 3 Store in Chain)
RENT INCREASES: Every 5 Years (see schedule below)
OPTIONS: 6x5-Year
RENT SCHEDULE
6/1/2017 - 5/31/2021 $662,047
6/1/2022 - 5/31/2027 $670,770
Option 1 $684,494
Option 2 $698,217
Option 3 $715,672
Option 4 $733,564
Option 5 $751,903
Option 6 $770,700
Strong Store SalesApprox. $16 MM(TTM July 2016)
43,000 Cars/dayon US 41
(Tamiami Trail)
-
4
I NVESTMENT OVERV IEW
About Bealls
Bealls, Inc. is the parent company of Bealls Department Stores,
Inc, Bealls Outlet Stores, Inc., and Burke’s Outlet Stores, LLC.
The
corporation, through its subsidiaries, operates over 530 retail
store sites across the southern and eastern United States with
annual
sales over one billion dollars. Since its modest beginnings in
1915 Bealls has grown to be a major employer in the State of
Florida as
well as a valued asset to all the communities it serves
throughout the country. Headquartered in Bradenton, Florida, the
operating
companies take advantage of resource sharing by utilizing
functions provided by Bealls, Inc., including Distribution,
Finance, Information
Systems, Loss Prevention and Human Resources. Conversely, each
company has its own buying, product development, real estate,
and advertising organization.
History
In 1915, 22-year-old Robert M. Beall Sr. opened a dry goods
store in Bradenton, Florida. Investing his entire savings in
merchandise,
he used empty wooden packing crates as his fi rst display
tables. Because the store sold nothing for more than one dollar he
called
his store The Dollar Limit. Following World War I infl ation, in
1920 Beall renamed his store The Five Dollar Limit. Business
prospered
during the Florida land boom of the 1920s; in a few years Beall
purchased a vacant lot facing the courthouse and erected a new
modern
department store, which opened for Christmas, 1924. The Florida
boom ended in a few years, only to be followed by the stock
market
crash. Hard hit and unable to pay his debts, Robert Beall lost
his business to the bank. He stayed on as manager through the
depression.
By 1944 he had saved enough to repurchase it. For many years the
store lived up to its motto,”We Outfi t the Family for Less.”
Today Bealls surpasses a billion dollars in sales annually with
over 535 stores and with www.beallsfl orida.com. Featuring
exclusive
brands and fashions especially chosen for Sunbelt climates,
Bealls is the source of choice for lifestyle-right and priced-right
apparel
and home goods. A century after opening its doors, Bealls
continues to serve communities with the spirit of pride and
appreciation fi rst
shown by Robert M. Beall back in 1915.
-
MARKET INFORMAT ION
5
MURDOCK CIRCLE
VETERANS BLVD
Where it’s Easy to get a Great Night’s Sleep!
KIRKLANDS TAMIAMI TRAIL
-
MARKET INFORMAT ION
6
Where it’s Easy to get a Great Night’s Sleep!
KIRKLANDSPORT CHARLOTTE HIGH SCHOOL
CHARLOTTE TECHNICAL COLLEGE
®
BED BATH &BEYOND®
MURDOCK CIRCLE
VETERANS B
LVD
TAMIAMI TR
AIL
-
MARKET INFORMAT ION
7
TENANT ROSTERTENANTBealls
SIZE91,489 SF
91,489 SF
SUITE1441
TOTAL
-
MARKET INFORMAT ION
8
Bealls Department Store1441 Tamiami TrailPort Charlotte, FL
33948
Bealls Department Store1441 Tamiami TrailPort Charlotte, FL
33948
-
MARKET INFORMAT ION
9
Port Charlotte, FloridaFound along Florida’s welcoming Gulf
Coast, Port Charlotte is located about halfway between Sarasota and
Fort Myers and also located within
a comfortable driving distance from Tampa, Orlando and Miami.
Tamiami Trail is the primary northsouth thoroughfare serving Port
Charlotte and
located in Charlotte County’s primary regional retail
concentration. Port Charlotte has a growing market that has
expanded by 10 percent over the
past decade and 40 percent over the past 20 years. It’s a short
8 mile distance to the Punta Gorda Airport and a 38 mile distance
to Southwest Florida
International Airport in Fort Myers. Port Charlotte is perfectly
positioned to offer every manner of water-borne activities. It has
more than 165 miles of
waterways, providing access to Charlotte Harbor and the Gulf of
Mexico and many more miles of natural shoreline bordering Charlotte
Harbor and
the Peace and Myakka rivers. Seven of the 21 golf courses
located in Charlotte County are found in Port Charlotte. Charlotte
Sports Park is home to
spring training for the Tampa Bay Rays. Tippecanoe Environmental
Park offers hiking trails and wildlife viewing through 380 acres of
scrub and pine
fl at-woods. Overall, Port Charlotte was named to Forbes’ list
of “25 Best Places to Retire”.
Punta Gorda, FloridaPort Charlotte is part of the Punta Gorda,
Florida Metropolitan Statistical Area. Punta Gorda is one of the
fastest growing U.S. MSAs. Over the next
15 years, the Punta Gorda MSA is projected to rank 5th in
population growth and 17th in employment growth among the top 300
MSAs.
-
MARKET INFORMAT ION
10
% % %
% % %
% % %
vacant units
2.761.20
20,279 20.0
101,417
63,367
50.2
1,330.0
familieswith person under 18
non-familieswith person under 18
Median household incomemedian family incomemedian non-family
income
Household sizefamily sizenon-family size
owner-occupiedrenter-occupied
American IndianAsian, Pacific Islanderother, multi-racial
1.1
Diversity index
Hispanic 8,549.0 10.0
malefemale
Race whiteblack
15,143.0
81,124
54,408 67.118,126 33.3
8.2
62.517,757 17.5
Median age
15,691
101.0482.0
27,0415,777
40.9
in familiesin non-families
in group quarters
under age 18age 55 and overage 65 and overage 75 and over
Per capita income 22,855
82.432,178 17.61,383 0.8
36 31
88.312,506.0 6.8
459.0 0.2
162,196.0
2,404.0 1.36,169.0 3.4
36,213
24,311
22,921
46.749.8
73,802.0
3,375.0
15.4
232 16.8
0.31,268.0 1.5
86.2
29,647 16.185,557 46.658,457 31.8
52.5
9,328
2.902.35
38.467.1
1.31.234.0
45,26852,810
1.22
11,903 32.9150
2.25
26,716
55,00832,653
32.9284
47,036
16,786
32,000
18.8
43,425
7,213
37
16.68,181
1.20
64.7
15.619.7
28,03210,855
244.0
24,514
51.650.2
3,590
0.3
3.94.01.5
3,410.0 10.3
9,345
14,170
65.938.4
Households
Housing Units
57
33,393
4,824
51,696
2,6193,315
2.322.89
44,563
64.6
183,736
182,35383.0
14,490150,175
17.0
33,058
0.7148 26.5
85,09470,60482.4
54.2558 0.7
17.6240
in noninstitutional group quarters 130
10 mi ring
32,818 99.3
Population99.3
5 mi ring3 mi ring
in households
85,652
99.2
13,51918.05,960
8,831
18.340.926.826.7
35,068
48.8
4,317
2,815.028,330.0
28,25011,236 13.1
22,238
48.6
6,964.0 8.1
13.1
85.78.5
46.0
-
MARKET INFORMAT ION
11
% % %
5,218
8,082
6.48.1
5.36.2under $10,000
6.0$25,000 - 29,999$30,000 - 34,999
2 persons3 to 4 persons5+ persons
10.311.8
2 persons3 to 4 persons5+ persons
1 person
$35,000 - 39,999
$50,000 - 59,999$60,000 - 74,999$75,000 - 99,999$100,000 -
124,999
25.478.1
6.6
45.2
1.92.82.65.5
6.1
5.55.86.8
Household income (households) (households)
3 mi ring 5 mi ring 10 mi ring
(households)
63,367
6.15.3
5,0044,3224,3374,6115,217
26.9
21.3
81,12421,801
6.45.75.3
$55,418$47,036
21.932.1
3,306
5.610.0
4,579
5,693
8,3624,4642,109
36,676
2,242
9,548
%
1,578
4,496
4,8986,545
1,090852
45.7
8.1
77.4
24.5
25.3
4,807
17,7578,181
2,852
5,6893,452
10,855
9,541
% %
41.1
36,213
Owner households 28,032
3 to 4 persons5+ persons
14,88726.3
14,1703,942
25.730.1
3,315
27.8
5,33517,303
16,108
5.2
50.331,86912,079
26.3
5,2242,029
44.6
22.630.01 person
385
2 persons997
2,4512,069
11.6 1,1002,566
8,85840.1
5.6
19.1
27.129.411.4
23.432.9
22.46.5
25.331.413.4
6,2921,827
12,818
2,927
7,090
1,901$52,498$45,268
Renter households
2.51.9
361
9.64.7
All households
22.66.5702
2,455
24.47.7
76.6
1,087
4,837
Aggregate income ($M)
304
$10,000 - 14,999$15,000 - 19,999$20,000 - 24,999
$40,000 - 49,999
Household size
$125,000 - 149,999$150,000 - 199,999$200,000 - 249,999$250,000
and over
824791
8481,407
944787
$53,185$44,563
1,4171,6471,363
663
754
269 1.8
2,3421,945
3,608
9.6
2.4
3,4594,304
6422.3
11.910.05.0
9.96.7
11.6
6.59.16.55.4
2,3643,295
Average incomeMedian income
1 person
2,2271,9341,985
891 6.35.85.6
790867
2,1152,477
5.6
6.0
10.0
2.11,819
860837
-
Nick Pourhassan
Transactions
[email protected]
404.665.1156
