SAM S CLUB PLAZA 315/335 SW PINE ISLAND RD CAPE CORAL, FL 33991
03 EXECUTIVE SUMMARY 05 PROPERTY LOCATION 09 THEATER COMPETITION 11 MARKET OVERVIEW CONTACT INFORMATION TIM SCHNEIDER Principal 239.334.3040 tim.schneider@trinitycre.com TONY MANGIONE Principal 239.334.3040 tony.mangione@trinitycre.com trinitycre.com 9250 Corkscrew Rd Suite 13 Estero, FL 33928 2018 Trinity Commercial Group, Inc. This information is considered accurate, but not guaranteed.
THE OFFERING Trinity Commercial Group, Inc. (TCG) is pleased to present the sale of the last remaining lot available in the Sam s Club development located on Pine Island Rd at Hancock Bridge Pkwy in the heart of Cape Coral, Florida. The subject property, Lot 6, is 7.82± Acres of vacant land substantially improved with infrastructure such as the traffic signal, land clearing & fill, master underground, and installation of the interior frontage road. The site is strategically positioned in the heart of Cape Coral along one of the area s busiest thoroughfares, Pine Island Rd. Almost 40,000 vehicles per day pass by the site, which sits adjacent to a very busy and successful Sam s Club and behind Buffalo Wild Wings, Culver s, Xfinity, Med Express, and Aspen Dental. The property is also positioned more than six miles from the next closest theater, creating a unique opportunity in a growing market where there s a significant gap for theater expansion. The only other two theaters in Cape Coral, AMC at Merchants Crossing and Marquee Cinemas at Coralwood Center, are outdated, developed in the 80s and 90s. Cape Coral is rapidly expanding and starving for something new. HIGHLIGHTS PROPERTY OVERVIEW Gap for movie theater, next closest theater over 6 miles away (only two theaters in all of Cape Coral, home to more than 180,000 residents) High traffic volume on Pine Island Rd, 38,500± VPD Great access with traffic signal at entry to the property Fantastic signage available on Pylon with Sam s Club Strong demographics PROPERTY LOCATION: LAND SIZE: ZONING: Lot 6, 315/335 SW Pine Island Rd, Cape Coral, FL 33991 7.82± Acres CORR Corridor (CCC - City of Cape Coral) Preliminary conversations with the City of Cape Coral determined potential for development incentives such as deferred impact fees PURCHASE PRICE: $3,900,000
SOUTHWEST, FLORIDA
IDENTIFIED OPPORTUNITY ZONE Potential 15% initial capital gain savings Potential 0% capital gains at sale if held for more than 10 years, per IRS regulations For more information: https://www.irs.gov/newsroom/opportunity-zonesfrequently-asked-questions 38,500± AADT PINE ISLAND RD SANTA BARBARA BLVD HANCOCK BRIDGE PKWY DEL PRADO BLVD
PINE ISLAND RD 38,500± AADT
THEATER COMPETITION 1) AMC MERCHANTS CROSSING: $2,700,000 - BOX OFFICE 10 MILE RADIUS 2) MARQUEE CINEMAS CAPE CORAL CORALWOOD: $2,949,656 IN 32,041 SF (IN 2011) 3) EDISON PARK 8 CINEMA: $500,000 - BOX OFFICE 4) REGAL CINEMAS BELLTOWER 20: $7,600,000 - BOX OFFICE 5) REGAL AT GCTC: $8,874,602 IN 75,358 SF $555K PER SCREEN 10% SALES GROWTH SINCE 2012 5 MILE RADIUS 3 MILE RADIUS 1 1 MILE RADIUS 2 3 4 5
IN 2017 FORBES NAMED CAPE CORAL #1 OUT OF 25 IN AMERICA S FASTEST GROWING CITIES OF 2017 Cape Coral is a city located in Lee County, Florida, United States, on the Gulf of Mexico. Founded in 1957 and developed as a planned community, the city grew to a population of 154,305 by the year 2010. The city s population estimate was 165,831 for 2013 and 179,804 for 2016. With an area of 120 square miles, Cape Coral is the largest city between Tampa and Miami. It is a principal city in the Cape Coral Fort Myers, Florida Metropolitan Statistical Area. The population estimate for the statistical area was 679,513 for 2014. The city is known as a Waterfront Wonderland ; with over 400 mi of navigable waterways, Cape Coral has more miles of canals than any other city in the world. Cape Coral history began in 1957 when two brothers from Baltimore, Maryland, Leonard and Jack Rosen, flew over the peninsula known as Redfish Point, across the Caloosahatchee River near present-day Fort Myers. Cape Coral was founded as Redfish Point. Leonard and Jack Rosen, who were real-estate developers, purchased a 103-square-mile tract known as Redfish Point for $678,000 in that year and, in 1958, began development of the city as a masterplanned, pre-planned community. The Gulf American Land Corporation (GALC), was formed to develop the area. Canals were dug, streets paved, houses and businesses built. Cape Coral was promoted like no other Florida development. Celebrities were brought in to tout the benefits of the Cape, as it is known locally. The first building in Cape Coral, even before any houses were constructed, was the Rosen s sales office. It was built right on the spot where George s Auto now stands, at Cape Coral and Coronado Pkwys. Cape Coral s first permanent resident was Kenny Schwartz, the Rosens general manager.cape Coral s first four homes were completed in May 1958, on Riverside and Flamingo Drives. Development continued through the early 1960s, mostly on Redfish Point, south of Cape Coral Parkway. By 1963, the population was 2,850; 1,300 buildings had been finished or were under construction; 80 mi of road had been built, and 160 mi of canals had been dug. The public yacht club, a golf course, medical clinic and shopping center were up and running. A major addition for Cape Coral was the construction of the 3,400 feet long Cape Coral Bridge across the Caloosahatchee River, which opened in early 1964. Before the bridge, a trip to Fort Myers was more than 20 mi via Del Prado Boulevard and over the Edison Bridge to cross the river.
325 SW Pine Island Rd Cape Coral, FL 33991 1 mi radius 3 mi radius 5 mi radius 10 mi radius POPULATION 2018 Estimated Population 4,411 57,571 143,823 366,974 2023 Projected Population 5,205 67,223 166,506 420,440 2010 Census Population 3,705 48,776 119,083 307,855 2000 Census Population 2,178 28,810 75,149 250,891 Projected Annual Growth 2018 to 2023 3.6% 3.4% 3.2% 2.9% Historical Annual Growth 2000 to 2018 5.7% 5.5% 5.1% 2.6% 2018 Median Age 37.7 40.3 42.7 46.6 HOUSEHOLDS RACE AND ETHNICITY 2018 Estimated Households 1,530 20,736 53,381 154,302 2023 Projected Households 1,680 22,504 57,447 164,435 2010 Census Households 1,303 17,869 45,013 132,097 2000 Census Households 773 10,415 28,374 107,545 Projected Annual Growth 2018 to 2023 2.0% 1.7% 1.5% 1.3% Historical Annual Growth 2000 to 2018 5.4% 5.5% 4.9% 2.4% 2018 Estimated White 84.3% 83.4% 84.9% 81.1% 2018 Estimated Black or African American 6.1% 6.5% 5.9% 9.8% 2018 Estimated Asian or Pacific Islander 1.9% 2.2% 2.2% 1.8% 2018 Estimated American Indian or Native Alaskan 0.3% 0.3% 0.3% 0.4% 2018 Estimated Other Races 7.4% 7.5% 6.6% 6.9% 2018 Estimated Hispanic 31.4% 26.6% 23.0% 19.2% INCOME EDUCATION (AGE 25+) BUSINESS 2018 Estimated Average Household Income $57,343 $61,309 $64,163 $62,618 2018 Estimated Median Household Income $52,759 $54,649 $56,765 $53,221 2018 Estimated Per Capita Income $19,947 $22,110 $23,836 $26,392 2018 Estimated Elementary (Grade Level 0 to 8) 5.8% 4.3% 3.8% 4.8% 2018 Estimated Some High School (Grade Level 9 to 11) 8.1% 7.5% 6.7% 7.3% 2018 Estimated High School Graduate 38.7% 36.6% 35.9% 33.4% 2018 Estimated Some College 21.2% 22.1% 22.3% 21.4% 2018 Estimated Associates Degree Only 7.9% 9.9% 10.0% 8.6% 2018 Estimated Bachelors Degree Only 13.0% 13.8% 14.2% 15.7% 2018 Estimated Graduate Degree 5.3% 5.8% 7.1% 8.8% 2018 Estimated Total Businesses 283 2,302 4,526 17,501 2018 Estimated Total Employees 2,660 18,615 34,334 149,142 2018 Estimated Employee Population per Business 9.4 8.1 7.6 8.5 2018 Estimated Residential Population per Business 15.6 25.0 31.8 21.0
CONTACT US TIM SCHNEIDER Principal tim.schneider@trinitycre.com TONY MANGIONE Principal 239.334.3040 tony.mangione@trinitycre.com 9250 Corkscrew Rd Suite 13 Estero, FL 33928 2018 Trinity Commercial Group, Inc. This information is considered accurate, but not guaranteed.