High Profile Investment Opportunity

Special Purpose for Sale
Catylist Listing ID: 30776270
Property Subtypes: School/University
Building Size (RSF): 42,570 SF
Gross Building Area: 44,334 SF
Gross Land Area: 1.64 Acres
Sale Price: $6,950,000
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/30/2022

Overview / Comments

The main property consists of a two-story building with 42,570± SF over a finished open parking garage at ground level.

Property Address: 1685 Medical Lane Fort Myers, FL 33907 / Lee County
Year Built: 1986
Building Size: 44,334± SF
# of Stories: Two (2)
Land Size: 1.64± Acres (71,467± SF)
Parking: 59 Covered spaces 103 Open spaces
Zoning: CN – Neighborhood Commercial

The secondary property is designated for additional parking.
Property Address: 1726 Medical Lane Fort Myers, FL 33907 / Lee County
Year Improved: 2002
Lot Size: .517 Acres (22,520± SF)
Parking: 43 Open spaces
Improvements: Fencing, lighting

Predictable Cash Flow
•Property is 100% leased by Southern Technical College Suncoast LLC
•Tenant has been in place since November 2009
•Lease features 2% Annual Increases
•Tenant performs all day-to-day repairs and maintenance at the Property
•through direct service contracts with vendors.
•Utilities and Real Estate Taxes paid directly by Tenant
•Landlord responsible for roof system and structural elements (exterior
walls, foundations, beams, masonry work, and load-bearing partitions)

Current Tenants

Tenant Business Name Southern Technical College Suncoast LLC

Additional Details

Nearest MSA: Cape Coral-Fort Myers
County: Lee
Taxing Authority: Lee County
Tax ID/APN: 024524P2003000090; 001A
Property Located Between: US 41 and Summerlin Rd
Property Visibility: Good
Largest Nearby Street: Colonial Blvd
Area Description: •One block south of Colonial Blvd. and west of US 41 / Cleveland Ave. •Easy access to I-75 via Colonial Blvd. (5± Miles) •Direct commute to SW Florida International Airport (14± Miles) •Proximity to Cape Coral, Naples, Tampa, St. Petersburg
Total Number of Buildings: 1
Number of Stories: 3
Year Built: 1986
Parking Type: Structure, Surface
Parking Description: 59 Covered spaces and 103 Open spaces on main property 43 open spaces on secondary property
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,511 72,953 171,880
Median Age: 38.96 40.92 45.15
Households: 5,285 31,532 75,390


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