Cape Coral investment property

Retail-Commercial for Sale
Catylist Listing ID: 30426963
Property Subtypes: Street Retail
Building Size (RSF): 2,186 SF
Gross Land Area: 3,300 SF
Sale Price: $449,000
Unit Price: $205.40 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 7.5%
Average Occupancy Rate: 100
Last Updated: 6/14/2019

Overview / Comments

Fully leased well maintained investment property in prime high-profile location fronting on Cape Coral Parkway E. in the downtown district is being offered for sale at a 7.5% CAP Rate. Excellent 1031 exchange property. The property has a flexible floor plan that can accommodate up to 5 tenants. The fully occupied property currently houses a Craft Brewery that spent over $100,000.00 on its build-out of the 3 units that front Cape Coral Parkway and and Insurance, CPA, financial advisor long term tenant occupies the two rear units. A unique feature of the property is that the building's front elevation extends further out towards Cape Coral Parkway then all the surrounding buildings which makes this the highest visibility location on the street. Property parking is outstanding with on-street parking in the front and the large "Big Johns" public parking lot to the rear. The building also features an enclosed pedestrian hallway that connects Cape Coral Parkway to the rear parking lot.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $2,700 (Annual)
Net Operating Income $33,600 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Cape Coral-Fort Myers
County: Lee
Tax ID/APN: 184524C2010640260
Retail Clientele: General, Business, Traveler, Tourist, Recreation
Property Located Between: Del Prado Blvd. and Vincennes Blvd.
Property Visibility: Excellent
Largest Nearby Street: Cape Coral Parkway
Area Description: Downtown Cape Coral
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1965
Roof Type: Flat
Parking Type: Surface
Parking Description: On-street in front. Large Public Parking lot in rear.
Zoning Description: SC South Cape Downtown District
Lot Frontage: 25
Lot Depth: 132
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,085 64,068 180,740
Median Age: 54.71 51.89 48.48
Households: 4,749 30,052 81,472

Contact

Photograph of Listing Agent

Jack Britton, CCIM

Professional Realty Consultants
SWFLCA Member
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