1820 S Tamiami Trail | Venice, Florida 34293
Vice President Investments
First Vice President InvestmentsJames.Garner@MarcusMillichap.com
Redevelopment Strategy - Conversion or Build to Suit
Enjoyment of Cash Flow and All Expenses Paid by Current Tenant During Entire Planning Stage
Tenant Hard Out February 1, 2022
48,000 Cars Per Day on US 41 - the Main Business and Commuter Artery
Adjacent to Lowe’s Home Improvement Center
Marcus & Millichap is pleased to present Pizza Hut, a truly rare investment opportunity for an investor to purchase an occupied building with the nation’s largest franchisee. However, this rare property offering is optimally positioned as a redevelopment opportunity. The tenant has recently executed a one and half year lease which provides the investor the opportunity with ample time to execute the necessary planning for a conversion while enjoying income and having all expenses paid.
The location is extremely strong and ideally located in the center of a dense retail corridor. Additionally, this dense infill, high barrier to entry location is situated on US 41, the main N/S thoroughfare through SW Florida, which sees over 48,000 Cars Per Day. The location has a long operating history as a Pizza Hut since 1970. The property has numerous location drivers including being situated adjacent to Lowe’s Home Improvement Center, is surrounded by numerous national restaurant concepts and is located in a high growth, emerging SW Florida market. With local market rents in the high $50 / ft. range in this highly desirable corridor, the options are immense for this property transformation. This redevelopment opportunity offers an investor the potential to either convert the existing structure or demolish and erect a new build to suit building, while enjoying cash flow and tenant paid expenses during the entire strategic planning timeline.