Home Depot Anchored Center

Highlights

• Home Depot - anchored power center location
• National tenant (Aaron’s) through 9/30/2027
• Below-market rent with repositioning upside
• NOI ±$103K | Market NOI ±$185K+
• Renovated building with pylon signage

Description

American Property Group presents 2114 Cortez Rd. W., Bradenton, FL

This highly visible retail asset presents a rare opportunity to acquire an undervalued, income-producing property with significant future upside in one of Bradenton’s most active retail commercial corridors.

The ±8,442 SF building is positioned within a Home Depot - anchored shopping center, benefiting from strong daily traffic, excellent exposure, and shared access to a giant parking lot via recorded easement with Home Depot and CubeSmart Self Storage. The property also features a standalone pylon sign directly on Cortez Road West, further enhancing visibility and branding potential.

The building has been occupied by a single national tenant, Aaron’s, since 2010. Aaron’s operates in the furniture, appliance, and electronics rent-to-own sector and currently has a lease in place through September 30, 2027, with no renewal options, creating a clear and attractive repositioning opportunity. The existing rent is well below current market levels, providing an investor or owner-user the ability to significantly increase income upon lease expiration. Tenant is responsible for all expenses including insurance, real estate taxes and pylon sign maintenance. Only responsibilities for the landlord include the roof and structure. As the building occupies the entire property, there are no CAM expenses. The adjacent property owners are responsible for lot lighting, lot repair and any landscaping expenses.

In today’s market, comparable retail properties within Power Centers are achieving rents of $22.00/SF NNN or higher, positioning the property for substantial NOI growth. The current Net Operating Income is ±$103,000, with projected future NOI estimated at $185,742+, driven by market rent adjustments alone.

The property has been extensively renovated, including a major building renovation in 2021 and continued mechanical/HVAC upgrades from 2022 through 2025, reducing near-term capital expenditure risk.

Adding to the long-term upside, the adjacent property to the east - owned by Benderson Development - is slated for future redevelopment, which is expected to further enhance traffic, demand, and overall property values in the immediate area.

Ideal for investors seeking stable income with value-add upside or owner-users planning a future occupancy strategy, this asset combines strong fundamentals, national tenancy, and a compelling growth narrative in a proven retail location.

Situs Address: 2114 CORTEZ RD W, BRADENTON, FL 34207-1242
Jurisdiction: UNINCORPORATED MANATEE COUNTY
Tax District: 0302; CEDAR HAMMOCK FIRE CONTROL DISTRICT
CRA/TIF District: SW; SOUTHWEST COUNTY IMPROVEMENT DISTRICT
Sec/Twp/Rge: 03-35S-17E
Neighborhood: 7003; BRADENTON-SOUTH OF RIVER, WEST OF I-75

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