Belmont Plaza

Highlights:

• Transformative Surrounding Development: Adjacent to Deering Park North & Deering Park Center, a 7,000+ acre master-planned community delivering 8,000+ new housing units and 4.3M+ SF of commercial, office, industrial, and retail space, supported by major infrastructure improvements and long-term population growth in Edgewater.
• Prime US-1 Location | S. Ridgewood Avenue: Positioned along a highly trafficked corridor with excellent frontage and visibility.
• Robust Traffic Counts: Exposure to ±21,500 vehicles per day (VPD).
• Established & Diverse Tenant Mix: A strong lineup of tenants meeting everyday local demand.
• Superior Accessibility & Visibility: Prominent frontage with convenient on-site parking for customers.
• Compelling Value-Add Potential: Significant upside through conversion to triple net leases and rental growth.
• Income Growth Opportunity: Current rents are below market, providing substantial upside for investors.
• Attractive Pricing Below Replacement Cost: Offered at just $159 per square foot.

Description:

Matthews is pleased to present the exclusive offering of a ±14,400 SF neighborhood strip center located in Edgewater, Florida. Strategically positioned along highly visible US-1 (S. Ridgewood Avenue), the property benefits from exposure to more than 21,000 vehicles per day, ensuring consistent visibility and customer traffic.

This center presents investors with a compelling value-add opportunity, as over 40% of the tenancy is currently month-to-month and paying below-market rents. This provides significant upside potential through rent increases, lease conversions, and stabilization strategies.

With strong frontage, established tenants catering to local demand, and the added catalyst of nearby transformative developments such as Deering Park North & Deering Park Center (bringing thousands of new homes and millions of square feet of commercial space), this asset is well-positioned to deliver long-term income growth and appreciation.

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