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$1,700,000
Est. payment /mo
8,048 SqFt
UPDATED:
09/30/2024 10:42 PM
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 8,048 sqft
Price per Sqft $211
MLS Listing ID 224073635
HOA Y/N No
Year Built 1981
Annual Tax Amount $10,646
Tax Year 2023
Lot Size 0.575 Acres
Acres 0.575
Property Description
This freestanding automotive sales and service center is available for sale as an investment property with a long-term tenant in place. Being offered at a 5.2% CAP Rate, the current annual gross income is $98,880 with 3% annual escalations. The lease has 8 1/2 years remaining, expiring on February 28, 2033, with (1) one (3) three-year Option to Renew. The current tenant has been in this same location since 2012 and recently signed a new lease, which includes a personal guarantee.
The building is constructed of concrete block and stucco. It has high visibility with 125 feet of frontage on Fowler Street, a pylon sign, and a 25,500 AADT (2023 Annual Average Daily Traffic) per the FDOT. 8,048± SF Includes 1,440± SF Finished Carport
The building is constructed of concrete block and stucco. It has high visibility with 125 feet of frontage on Fowler Street, a pylon sign, and a 25,500 AADT (2023 Annual Average Daily Traffic) per the FDOT. 8,048± SF Includes 1,440± SF Finished Carport
Location
State FL
County Lee
Area Fm04 - Fort Myers Area
Rooms
Bedroom Description NaN
Interior
Fireplace No
Exterior
Waterfront Description None
Garage No
Building
Story 1
Others
Senior Community No
Tax ID 25-44-24-P2-00100.015F
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Listed by VIP Realty Group Inc • Ethan Schumacher
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