INVESTMENT INCOME PROPERTY 8.1% CAP RATE | 100% OCCUPANCY

Property Overview

Separate but fully leased, 2 building portfolio, on 1.23 acres. 52 units averaging 215 sf. Occupied by 47 local tenants on leases averaging 2 years. Professionally managed and maintained.

New re-roof in 2017. Recent HVAC replacements also. Common areas include, lobby area, breakrooms and atrium. Historically high occupancy with less than 2.5% vacancy with a long wait list. Liberal CI zoning allows for a multitude of retail, office or medical uses.

Property features and attractive 8.1% CAP rate with considerable upside as leases reset.

• 13,778 +/- gross SF, 11,241 +/- rentable SF
• Lot Size: 1.23 +/- acres
• Taxes: $24,137
• Zoning: CI -Commercial intensive (City of Ft. Myers)
• Year Built: 1984
• Strap #36-44-24-P3-01300.0200 & 36-44-24-P3-01300.0190

Property Details

For Sale:Yes
Property Type:Retail-Commercial
Subtype:General
Use Type:Investment
Status:Active
Street Address:4066-4100 Evans Avenue
City:Fort Myers
County:Lee County
Asking Sale Price:$3,000,000
Cap Rate:8%
Building Size:13778 SF
Percent Occupied:100%
Number of Stories:1
Year Built:1984
Zoning:CI -Commercial intensive (City of Ft. Myers)
Number of Units:52
Space Available:11241 SF

Area Description

Located in the City of Ft. Myers just off Winkler Avenue and near US 41, with easy access to I-75. Many professional and medical offices nearby.