181 Rardin Ave 10,136 SF 100% Leased Retail Building Pahokee, FL 33476 $1,250,000 ($123.32/SF) 7.08% Cap Rate

Marcus & Millichap is pleased to present Thrifty Supermarket Center, a ±10,136 square-foot retail center and on ±1.73 acres at 181 Rardin Avenue, in Pahokee, Florida. The sale also includes a contiguous vacant lot zoned commercial which is a part of the Commercial Office Residential and Entertainment (CORE) district. The lot is ±0.67 acres and included in the ±1.73 acres mentioned above. Currently the property is 100 percent occupied and offers investors a unique opportunity to purchase a retail center with the ability to expand or sell off the separate piece of land to lower your basis. The Property also benefits from recent capital improvements, with the roof being replaced in 2021, the electric meters were upgraded in 2023, and the parking lot was redone with new asphalt in 2023. Thriftway Supermarket Center is positioned less than one quarter mile from the Pahokee Marina.
The Glades region, which includes Pahokee, is designated as a (RACEC) by the state. This designation provides various incentives and waivers for businesses and developers, such as tax refunds and low-cost loan programs. This makes the area more attractive for new businesses and job creation. Also, the property is strategically located within a 100-mile radius of 85% of Florida's population. It is also the epicenter of a vast agricultural industry and is home to emerging sectors like food processing, manufacturing, and logistics. Finally, there is a significant push for new construction and community development in surrounding areas like Westlake, Loxahatchee, and Palm Beach Gardens. This activity could lead to increased population and economic vitality in the broader region, with spillover effects for communities like Pahokee.