Bradenton Retail Portfolio
Bradenton, FL (Tampa Bay MSA)
First Vice President Investments
Downtown Bradenton Retail Property Portfolio
Eight Freestanding Assets in Dense, Urban Core
Priced Significantly Below Replacement Cost
96 Percent Occupied by Internet Resistant, Service-Oriented Tenants
13.36% Cash-On-Cash Return
Marcus & Millichap is pleased to offer for sale this rare opportunity to acquire a portfolio of prime retail locations in downtown Bradenton, Florida (Tampa Bay MSA). The portfolio consists of eight properties totaling 30,623 square feet. All eight buildings are located in close proximity to each other providing ease of management at unusually high return in today's real estate market.
Currently 96 percent occupied by internet resistant, service-oriented businesses, this offering is located in close proximity to more than $50 Million of new senior housing, retail and office developments. In recent years created the Bradenton Downtown Development Authority to promote bringing local and regional businesses to the urban core with the goal of creating a bustling, vibrant neighborhood to attract more businesses and residents within the urban core. This strategy has been a great success and has subsequently increased the population in the surrounding area by nearly 13% over the last five years.
In addition to a growing local population, the Bradenton economy has flourished with a robust tourism industry. This year, more than 665,400 people visited Bradentons pristine beaches and area attractions compared to 646,700 people last year increasing the economic impact by 5.5 percent. IN total, more than three million tourists from all over the world visited the Tampa / Bradenton / Sarasota MSA.
Bradenton is home to major employers including Champs Sports corporate headquarters and Bealls Department Stores. Tropicana Products was founded in Bradenton, and still has operations in the area. The Pittsburgh Pirates spring training facility is located in downtown Bradenton, in addition to the Pirates minor league baseball team.