Income Producing I-75 Roadside Pylon Sign
Sandhill Blvd Billboard - Punta Gorda
For sale24501 Sandhill Blvd, Punta Gorda, FL 33983
Property type
Land
Price
$350,000
Net Operating Income
$22,440
Cap Rate
6.41%
Occupancy
100%
APN
402306402004
Zoning code
aPD (Planned Development)
Lot size
0.42 acres
Sold/status
On Market
Property description
Franklin Street is pleased to present 24501 Sandhill Boulevard, an income producing I-75 roadside pylon sign in Punta Gorda, Florida. The 0.42 acre parcel sits right off the I-75 / Kings Highway interchange (Exit 170) and holds a fully licensed, double sided pylon sign with visibility to approximately 72,850 vehicles per day on I-75 and 23,052 vehicles per day on Kings Highway. The sign is 100% licensed to Applebee's and West Florida Professional Center, generating $22,440 in annual income. The Applebee's license runs through 2032 with a scheduled rent increase in 2028 and four 5 year renewal options with increases in each option period. Licensees maintain their own sign panels and cabinets and reimburse property taxes, insurance and sign electricity, leaving minimal landlord responsibilities. The property is zoned PD (Planned Development) with a Future Land Use of DRI Mixed Use, offering long term flexibility for future commercial development. Offered at $350,000, a 6.41% cap rate.
Property highlights
- Excellent location along Sandhill Blvd right off the I-75 / Kings Highway interchange (Exit 170), a main interstate exit serving Port Charlotte and the Deep Creek community
- 0.42 acre parcel with a fully licensed, double-sided pylon sign providing excellent visibility to approximately 72,850 vehicles per day on I-75, plus an additional 23,052 vehicles per day on Kings Highway
- 100% licensed to Applebee's and West Florida Professional Center, generating $22,440 in annual income, with the Applebee's license running through 2032, a scheduled rent increase in 2028, and four 5-year renewal options with increases in each option period
- Minimal landlord responsibilities, with licensees maintaining their own sign panels and cabinets and reimbursing the property taxes, insurance, and sign electricity
- Surrounded by national retailers and daily traffic drivers such as Walmart Supercenter, RaceTrac, 7-Eleven, Culver's, Popeyes, Applebee's, Cracker Barrel, Wendy's, CVS, Tire Kingdom, Wells Fargo, and Bank of America
- Strong hospitality presence at the interchange including Hampton Inn, Holiday Inn Express, Country Inn & Suites, Sleep Inn & Suites, and Comfort Inn & Suites, bringing steady visitor and traveler traffic year round
- Located in the path of growth with new residential development in the immediate area, including a 272 unit community and additional units planned along Veterans Blvd
- Zoned PD (Planned Development) with a Future Land Use of DRI Mixed Use, offering long-term flexibility for future commercial development