Bealls Port Charlotte

Description:

A single-tenant free-standing NNN leased property, with Bealls Department Store as the tenant with nine years remaining plus six 5-year options to renew. This is a top 10 performing Bealls in the chain.


KW Commercial is pleased to present a single-tenant Bealls located in Port Charlotte Town Center in Port Charlotte, Florida. Port Charlotte Town Center is located in the center of the town and serves a 30-mile retail radius. Port Charlotte is in Charlotte County, located on the West coast of Florida just 44 miles from Sarasota and 28 miles from Fort Myers. Port Charlotte is known for its unhurried, laid-back lifestyle and plenty of Old Florida charm, and has been recognized as a top place to retire in the U.S. by Forbes Magazine, based on features like a low cost of living, Florida’s retiree-friendly tax code, quality health care, desirable amenities, and a vast network of canals and waterways that lead to Charlotte Harbor and the Gulf of Mexico. Charlotte Harbor includes one of the world’s largest protected marine estuaries encompassing 270 square miles with 219 miles of natural shoreline, making the area a
desirable location for outdoor and wildlife enthusiasts. Port Charlotte is a sought-after destination for outdoor enthusiasts and golfers with over 700,000 annual visitors that generate over $700M a year. The
Port Charlotte Town Center has strong and consistent foot traffic in a retail-dense area due to the growth of the market and the lack of retail as you move further away from the property.

This is a top 10 performing Bealls in the country that has already executed an early lease extension once, demonstrating their commitment to the site. Furthermore, after Hurricane Ian the location recieved a new
roof and Bealls remodeled their interior and exterior to further modernize their store. The investment offers an investor the opportunity to acquire a successful location in a strong and growing market. Bealls is
privately owned and has no corporate debt, allowing them to successfully navigate bull and bear markets.


Southwest Florida single-tenant Bealls located within Port Charlotte Town Center
Recent lease extension showing strong tenant commitment to the site: 9 Years remaining with bumps
   in each option period
Historically a Top 10 performing Bealls in the chain
Port Charlotte Town Center brings 2M annual visits to the property: JCPenney, Dillard's, Regal, DSW,
   among others
Pulls from a large trade area of over 30 miles
Surrounded by national retailers such as: Publix, Sam's Club, Target, Lowe's, Marshalls, Bed Bath &
   Beyond, Dillard's, and the newly built Port Charlotte Marketplace with Burlington, Total Wine, Ross &
   Home Goods
Recent property upgrades: new $1M+ roof, interior and exterior store renovations
Located at the intersection of Port Charlotte's two major roads: Tamiami Trl (48,500 VPD) and El
   Jobean Rd (28,500 VPD)
Florida has no state income tax, making it an attractive place to live, invest, and retire