H.W. Smith Arcade Building - Downtown Punta Gorda

Highlights:

• AS OF 11/2024, NEW ROOF, NEW A/C UNITS, UP TO CODE, FULLY RENOVATED UNITS, NEW ELECTRICAL, NEW FLOORING, AND MORE.
• Great opportunity for an owner user to have retail frontage along Marion Ave!
• Current Tenants:
• The Perfect Caper Restaurant (Award-winning dining)
• Florida Department of Corrections (Probation office)
• Florida Department of Juvenile Justice
• Steph's Bakery
• Surface parking ample street parking available - 36 spaces
• TAX CREDITS FOR HISTORIC BUILDINGS. Property is listed on the National Register of Historic Places. See Page 15 in the OM for more information.
• Situated in the heart of downtown Punta Gorda, walking distance to shopping, dining, entertainment, and the Punta Gorda waterfront
• Excellent for investors looking to own a piece of history in a growing, vibrant area. Potential for rent increases and value appreciation.
• Centrally located with easy access to major highways and Airport
• Unique historic charm, offering character and distinction in a prime location
• Long-term, stable tenants in place

Description:

Step into history with the iconic Arcade Building, located in the heart of downtown Punta Gorda, Florida. Built in 1926, this landmark property showcases classic Mission and Mediterranean Revival architecture, featuring a Spanish mission-style parapet, a tiled loggia, and a striking triple-arch entrance. The Arcade Building was designed to be one of the first indoor malls in the area, with a central hall flanked by storefronts, leading to a post office at the rear. This unique structure highlights the rich architectural history of Punta Gorda.

The Arcade Building has been recognized for its historical and architectural significance and continues to serve as a functional commercial space today. Currently, it houses The Perfect Caper restaurant, the Florida Department of Corrections probation office, and the Florida Department of Juvenile Justice office contributing to its dynamic mix of tenants.

Exclusively listed by SVN Commercial Partners, this property presents an exceptional opportunity for investors and businesses alike to own a piece of Punta Gorda’s rich history in a prime downtown location. Whether you're looking to expand your business or invest in historic real estate, The Arcade Building offers both character and convenience in one of Southwest Florida’s most vibrant commercial districts.

Historical information from the Punta Gorda History Center:
H.W. Smith Arcade Building – Punta Gorda’s first mini-mall was also the Post Office
Directly across the street from the new Post Office is the old post office, which was located in the H.W. Smith Building, on the south side E. Marion Avenue, half way in between Nesbit and King Street (now US 41N).

During the 1920s, Henry W. Smith owned a small bakery in Punta Gorda and delivered baked goods to local merchants in a horse-drawn wagon. In 1926, as the prosperity of the Florida Land Boom was about to collapse, Smith built an arcade in the commercial area town, on Marion Avenue east of King Street (now US 41N).
The arcade was designed with a central hallway flanked by commercial space for shops and offices, much like a miniature version of today's enclosed malls. Smith relocated his bakery to the arcade and rented out the rest of the space to the U.S. Post Office and several other businesses.

During the 30 years the Post Office occupied the rear of the building, mail was shipped twice daily to Punta Gorda. There was no home delivery at that time, so residents picked up their mail at the arcade, making it a gathering place in the community. The Post Office also provided a steady stream of potential customers for the other businesses in the building, which included a pharmacy, a home supply store and Smith's bakery.

The H. W. Smith Building is the only arcade in Punta Gorda dating from the 1920s. This form of commercial building was common in Florida before 1930. It is also a fine example of Mission style architecture.

Documents: