Cape Coral investment property

Retail-Commercial for Sale
Catylist Listing ID: 30585023
Property Subtypes: Free-Standing Building, Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 7,751 SF
Gross Building Area: See Agent
Gross Land Area: 34,080 SF
Sale Price: $885,000
Unit Price: $114.18 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/29/2020

Overview / Comments

Reduced, motivated seller wants offers. Property is now listed for sale at only 114.18 PSF which is well under recent appraisal price. This 7,751 SF Multi-tenant investment building with 240' of frontage on Del Prado Boulevard is located in a convenient, high traffic area with excellent highway visibility. The property has 4 units but is currently divided into 3 units. The Orient Restaurant is a long term tenant. The other tenant is the "O" bar. There is currently a 900 SF office/retail unit that is available for lease or could be owner occupied. The vacant unit has formerly been used as a Doctors office and most recently as an Insurance agency. The unit could also be used for retail. The property has a new roof and outstanding parking with lots on the north and south sides of the property along with a large rear parking lot. .

Additional Details

Nearest MSA: Cape Coral-Fort Myers
County: Lee
Tax ID/APN: 184424C2014580570
Retail Clientele: General
Property Located Between: Cape Coral Hospital and Hancock Bridge Parkway
Property Visibility: Excellent
Feet of Frontage: 240
Site Description: 34,080 SF parcel with two driveway cuts and 240' of frontage on Del Prado Blvd.
Area Description: Very busy, high traffic area.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1977
Roof Type: Flat
Parking Type: Surface
Parking Description: Excellent parking with a lot on the north side, a lot on the south side and a rear parking lot.
Zoning Description: Commercial - office/retail
Lot Frontage: 240
Lot Depth: 142
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,339 69,190 165,938
Median Age: 42.91 41.83 42.8
Households: 5,696 27,003 67,745


Photograph of Listing Agent

Jack Britton, CCIM

Professional Realty Consultants
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