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H.W. Smith Arcade Building 121 East Marion Avenue, Punta Gorda, FL 33950
Property Description
Step into history with the iconic Arcade Building, located in the heart of downtown Punta Gorda, Florida. Built in 1926, this landmark property showcases classic Mission and Mediterranean Revival architecture, featuring a Spanish mission-style parapet, a tiled loggia, and a striking triple-arch entrance. The Arcade Building was designed to be one of the first indoor malls in the area, with a central hall flanked by storefronts, leading to a post office at the rear. This unique structure highlights the rich architectural history of Punta Gorda.
The Arcade Building has been recognized for its historical and architectural significance and continues to serve as a functional commercial space today. Currently, it houses The Perfect Caper restaurant, the Florida Department of Corrections probation office, and the Florida Department of Juvenile Justice office contributing to its dynamic mix of tenants.
Exclusively listed by Remax Commercial ®, this property presents an exceptional opportunity for investors and businesses alike to own a piece of Punta Gorda's rich history in a prime downtown location. Whether you're looking to expand your business or invest in historic real estate, The Arcade Building offers both character and convenience in one of Southwest Florida's most vibrant commercial districts.
Highlights
- AS OF 11/2024, NEW ROOF, NEW A/C UNITS, UP TO CODE, FULLY RENOVATED
- UNITS, NEW ELECTRICAL, NEW FLOORING, AND MORE.
- Great opportunity for an owner user to have retail frontage along Marion Ave!
- Current Tenants:
o The Perfect Caper Restaurant (Award-winning dining)
o Florida Department of Corrections (Probation office)
- Florida Department of Juvenile Justice
- Steph's Bakery
- Surface parking ample street parking available - 36 spaces
- TAX CREDITS FOR HISTORIC BUILDINGS. Property is listed on the National Register of Historic Places. See Page 15 for more information.
- Situated in the heart of downtown Punta Gorda, walking distance to shopping, dining, entertainment, and the Punta Gorda waterfront
- Excellent for investors looking to own a piece of history in a growing, vibrant area.
- Potential for rent increases and value appreciation.
- Centrally located with easy access to major highways and Airport
- Unique historic charm, offering character and distinction in a prime location
- Long-term, stable tenants in place
Full Address: 121 East Marion Avenue, Punta Gorda, FL 33950
Listing Type: FOR SALE
Status: Active
Zoning: TPG-DC
Region: S-SE
County: Charlotte County
Property ID: 4090271
Building Sf: 14,066
Parcel Num: 412306331005
Number Units: 4
Number Buildings: 1
Year Built: 1926
Year Renovation: 2024
Cap Rate: 7.76%
Tenancy Type: Multi-Tenant
o The Perfect Caper Restaurant (Award-winning dining) o Florida Department of Corrections (Probation office)