The Old Opera House | 114 W Oak St
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The Old Opera House 114 W Oak St
13,781 SF 100% Leased Retail Building Arcadia, FL 34266 $1,700,000 ($123/SF) 6.80% Cap Rate
Executive Summary
HISTORIC BUILDING IN ARCADIA W/NEW ROOF (2023) FOR SALE! Located at the corner of Oak St & Polk Ave, the Heard Opera House building is a hallmark of Historic Downtown Arcadia. 106 W Oak features 19,604 square foot & is home to FIVE ground-floor store fronts, an assembly hall w/stage, dressing rooms & balcony plus TEN office/flex spaces on the 2nd floor. Property has 32 NEW IMPACT-RESISTANT WINDOWS ON 2ND FLOOR! Other updates include NEW A/C in Opera House (stage area) & NEW A/C for corner retail unit on Polk (104 W Oak). On-street & back of building parking available. At time of listing, the property is fully leased. Tenants cover their own utility bills. Listing also contains 114 W Oak St which was damaged during Hurricane Ian & being sold AS IS. Facade to remain intact per historic building preservation codes. 114 W Oak was previously used as retail storefront w/2nd floor apartment/living space. 114 W Oak potentially adds an additional 5,249 square feet to property. Heard Opera House is located in the heart of the historic antique district of Arcadia. Surrounded by coffee shops, antique stores, restaurants, and other retail/office spaces, this property is a hallmark of downtown Arcadia with daily traffic counts of around 9,000. Buy a piece of history today. Arcadia is less than 30 miles to Punta Gorda, approximately 50 miles to downtown Sarasota or Ft Myers or approximately 100 miles to Disney World/Orlando area. Property has been featured in local news segments highlighting the rich history of the Opera House dating back to 1906.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
13,781 SF
Building Class
C
Year Built
1906
Price
$1,700,000
Price Per SF
$123
Cap Rate
6.80%
NOI
$115,600
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
12’
Building FAR
1.05
Lot Size
0.30 AC
Opportunity Zone
Yes
Zoning
B-2
Frontage
112 FT on W Oak St
Amenities
- Corner Lot
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 25-37-24-0012-0280-0047 | Improvements Assessment | $62,397 |
| Land Assessment | $36,024 | Total Assessment | $98,421 |
PROPERTY TAXES
Parcel Number
25-37-24-0012-0280-0047
Land Assessment
$36,024
Improvements Assessment
$62,397
Total Assessment
$98,421
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The Old Opera House | 114 W Oak St
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