Pelican Plaza is pound for pound one of the best value properties on market in Edgewater Florida. The property is for sale at $1,800,000 and totals 32,810 square feet. The site is 95% occupied with both local and national tenants. The property itself, including the roof, is in great shape. The parking lot has recently been sealed and the signage directly on US 1 was redone.
Pelican Plaza is priced at just under $55 a foot for a fully stabilized and under market rented building. Many of these tenants have not had their rents increased in nearly ten years.
Opportunities like Pelican Plaza only come around once every couple decades.
Edgewater, Florida 32141