Sunday, December 8, 2019

Commercial Properties Selling Well on Marco Island


Provence of Marco

Provence of Marco

It has been a busy 12 months for commercial real estate on Marco Island.

During the last year commercial properties sold on Marco Island with prices ranging from $105,000 for an 890 square foot office space at the Provence of Marco at 1857 San Marco Road to $2,350,000 for the Elkcam Circle Plaza, across the street from the post office at 601 E. Elkcam. Two industrial spaces sold at the Island Industrial Park at 994 N. Barfield for $145,000 and $155,000.

At least three vacant lots are being developed on the island. ABC Liquors is planning to build a standalone building at the corner of Bald Eagle and Chalmers. First Florida Integrity Bank is planning a standalone building at the corner of Bald Eagle and Windward. A developer is planning an assisted living, independent living and memory care facility on vacant land between the Realtors building and the NCH Healthcare Systems urgent care facility on Bald Eagle.

Part of the marina at Goodland bridge. Photos by Gary Elliott

Part of the marina at Goodland bridge. Photos by Gary Elliott

The Island Tower Building at 606 Bald Eagle Dr. has a pending sale for a 2,100 square foot office space. It is listed for $495,000.

Last week several commercial properties were listed for sale on Marco Island. A two story standalone building with 2,000 square feet at 5 Front Street is listed for sale for $485,000.

Island Tower

Island Tower

The former Liquors building at 695 Bald Eagle with 8,000 square feet is listed for sale for $1,899,000.

The Provence of Marco at 1857 San Marco Rd has an 890 square feet commercial space ready for build out for sale for $144,900.

The 58-slip marina at the Goodland Bridge is for sale for $5,975,000. Plans are available for a buyer to build a 52 unit, nine-story complex already approved by the city.

Near the fire station four lots have been assembled into one package for sale at $595,000. Three of the lots are zoned C-1 and have 240 feet of frontage on San Marco Rd.

A 0.55 acre lot is for sale for $975,000 at 515 Bald Eagle at the corner of Hartley Avenue.

Former Eagle building on the market for land value.

Former Eagle building on the market for land value.

The 8,848 square foot former Marco Eagle building damaged by Hurricane Irma at the corner of East Elkcam Circle and Tallwood Street is priced at land value for $1,800,000 for 0.9 acre.

Between The Provence of Marco and the Schilling Jewelers building at 1851 San Marco Rd is a 1.54 acre site on the market for $2,750,000.

Marco Island has five commercial zones ranging from C-1 to C-5:

C-1 zoning is for commercial and professional services and is intended to permit those uses which minimize pedestrian and vehicular traffic.

5 Front Street

5 Front Street

C-2 zoning is for small scale shopping and personal needs. C-3 zoning is for a wider variety of goods and services in areas that have a higher degree of automobile traffic. C-4 zoning is to concentrate commercial development at the intersections of arterial roads where traffic impacts can readily be accommodated. C-5 zoning allows for a range of more intensive commercial uses and services. The C-5 district permits heavy commercial services such as full-service automotive repair, and establishments primarily engaged in construction and specialized trade activities.

Gary Elliott is the President of the Marco Island Area Association of Realtors and can be reached at 239-248-1776..

The Liquors building at 695 Bald Eagle.

The Liquors building at 695 Bald Eagle.

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